Controlled rolling processes are designed to produce a desired microstructure via the control of hot rolling without subsequent heat treatment. Critical to the success of controlled rolling are the stages that occur after hot deformation, when the steel is cooled to room temperature. This can be divided into two parts: the run out table, where the material is allowed to cool relatively rapidly to a pre-determined temperature, and "coiling" at which point the rolled material is coiled, thus showing down the cooling rate considerably. Controlled rolling schedules generally finish by coiling the steel at temperatures below the bainite transformation start temperature (Bs). Any changes in coiling conditions (temperature and time) in this region can result in variations in bainite characteristics (morphology, size, carbide precipitation, etc.). This in turn, may affect the state of the retained austenite and, consequently, the mechanical properties of Si-Mn TRIP steels, which have bainite as the dominant microconstituent. The effect of changes in the bainite transformation conditions were investigated using two grades of Si-Mn TRIP steels, including one a containing Nb as a microalloy addition. The results reveal that the retained austenite volume fraction was strongly influenced by both bainite formation temperature and hold time, The highest values of total elongation (46 and 33%) and formability index (61180 and 40260 MPa·%) were observed for an intermediate hold time (5 min) and temperature (400°C), respectively. These findings are explained by considering the effect of the bainite transformation on the state of the retained austenite.