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A-One Steels India Limited IPO
Backward-Integrated Steel Manufacturer · Long & Flat Products · TMT Bars & Coils · Bangalore
📋 Mainline IPO
Fresh + OFS
NSE, BSE
₹405
Upper Price
₹405.00 Cr
Issue Size
Oct 1, 2026
Listing Date
₹2,772.84 Cr
Market Cap (Pre)
📅 IPO Timetable
All dates tentative🟢
IPO Opens
Thursday, 24 September 2026
Bidding starts — apply before close
🔒
IPO Closes
Monday, 28 September 2026
Last day to bid — closes at 5:00 PM IST
📊
Basis of Allotment
Tuesday, 29 September 2026
Allotment finalised by registrar
🔄
Refund & Share Credit
Wednesday, 30 September 2026
Unallotted funds returned; shares credited to demat
🏷️
Thursday, 1 October 2026
Trading begins from 10:00 AM IST
📋 IPO Details
IPO Open Date24 September 2026 (Thu)
IPO Close Date28 September 2026 (Mon)
Listing Date1 October 2026 (Thu)
Face Value₹10 per share
Price Band₹385 to ₹405
Issue Price (Upper Band)₹405 per share
Issue TypeBook Build — Fresh + OFS
Lot Size37 shares
Total Issue Size99,99,999 shares (₹405.00 Cr)
Fresh Issue87,65,432 shares (₹355.00 Cr)
Offer for Sale (OFS)12,34,567 shares (₹50.00 Cr)
Employee DiscountNA
Pre-Issue Shares6,84,65,270
Post-Issue Shares7,72,30,702
Promoter Holding (Pre)85.86%
Market Cap (Pre-IPO)₹2,772.84 Cr
Listing ExchangeNSE, BSE
Lead ManagerPL Capital Markets, Khambatta Securities
RegistrarBigshare Services Pvt.Ltd.
💰 Lot Size & Minimum Investment
At upper price ₹405| Investor Type | Lots | Shares | Amount |
|---|---|---|---|
| Retail — Minimum | 1 | 37 | ₹14,985 |
| Retail — Maximum | 13 | 481 | ₹1,94,805 |
| S-HNI (sNII) — Min | 14 | 518 | ₹2,09,790 |
| S-HNI (sNII) — Max | 66 | 2,442 | ₹9,89,010 |
| B-HNI (bNII) — Min | 67 | 2,479 | ₹10,03,995 |
⚠️ Note: Investors can bid for a minimum of 37 shares and in multiples thereof. Retail individual investors can apply up to ₹2,00,000.
👥 Investor Reservation
Allocated portion of Net OfferNot more than 50%
QIB Portion
Not less than 35%
Retail Portion
Not less than 15%
NII Portion
📊 Subscription Status
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📈 Company Financials
Restated Consolidated · ₹ Crore| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total Assets | 3,191.31 | 2,753.06 | 2,395.87 |
| Total Income | 4,202.05 | 3,569.63 | 3,862.44 |
| PAT | 127.41 | 7.71 | 38.91 |
| EBITDA | 303.64 | 174.06 | 172.19 |
| Net Worth | 819.52 | 676.63 | 421.79 |
| Total Borrowing | 1,010.94 | 963.67 | 1,042.53 |
Income Growth
FY 2023–24₹3,862.44 Cr
FY 2024–25₹3,569.63 Cr
FY 2025–26₹4,202.05 Cr
🎯 Key Performance Indicators
14.70%
ROE
FY 2025–26
1.17
Debt/Equity
FY 2025–26
12.86%
ROCE
FY 2025–26
3.04%
PAT Margin
FY 2025–26
7.29%
EBITDA Margin
FY 2025–26
15.43%
RoNW
FY 2025–26
3.38x
Price/Book
FY 2025–26
119.70
NAV
FY 2025–26
⚖️ Valuation & EPS
Pre-IPO EPS
₹18.61
FY26 earnings + pre-issue shares
P/E: 21.76xPost-IPO EPS
₹16.50
FY26 earnings + post-issue shares
P/E: 24.55xPrice to Book Value
3.38x
At upper price band ₹405
Market Cap (Pre-IPO)
₹2,772.84 Cr
At issue price ₹405
ℹ️
Pre-IPO EPS (₹18.61) based on pre-issue shares (6,84,65,270) and FY26 restated PAT (₹127.41 Cr). Post-IPO EPS (₹16.50) accounts for the dilution resulting from the issuance of 87,65,432 fresh equity shares extending the total post-issue equity to 7,72,30,702 shares. Post-IPO Market Cap expands to ₹3,127.84 Cr at the upper issue price of ₹405.
🎯 Objects of the Issue
Net proceeds utilisation1
Pre-payment or partial re-payment of a portion of certain outstanding borrowings availed by the Company
₹250.00 Cr
2
General Corporate Purposes
Balance
Total Fresh Issue Goal
₹355.00 Cr
🏢 About A-One Steels India Ltd.
Est. 2012 · Bangalore, Karnataka · Backward-Integrated Steel ManufacturerA-One Steels India Limited, incorporated in 2012, is a highly established backward-integrated steel manufacturer operating primarily in Southern India. The company delivers a robust and diversified product portfolio encompassing long and flat steel products alongside critical industrial materials utilized heavily in primary steel production.
The business maintains comprehensive production capabilities, manufacturing HR and CR coils from MS billets, which are further converted into high-grade HR pipes, CR pipes, and galvanized tubes. Concurrently, it produces industry-standard TMT bars and strategic industrial inputs like met coke and silicon manganese/ferrosilicon. A-One Steels runs six strategically positioned manufacturing facilities (five in Karnataka and one in Andhra Pradesh) located securely within 450 km of major ports such as Ennore, New Mangalore, and Goa-Mormugao to optimize logistics. Bolstered by a workforce of 2,459 personnel and a dedicated 10 MW waste heat recovery power plant, the company prominently leverages long-term 15 to 25-year green energy PPAs to solidify its operational sustainability.
Brand Ecosystem
🏗️
Long & Flat Products
Manufactures versatile HR/CR coils, galvanized tubes, and TMT bars serving heavy infrastructure.
⚗️
Sponge Iron & Alloys
Produces essential inputs including sponge iron, met coke, and ferrosilicon for integrated steelmaking.
🏭
Strategic Manufacturing Hubs
Six dynamic production units located near major iron ore sources across Karnataka and Andhra Pradesh.
⚡
Green Energy Leadership
Relies heavily on 15 to 25-year solar/wind PPAs and an upcoming 10 MW waste heat recovery plant.
Competitive Strengths
🏆Firmly positioned as one of the largest backward integrated steel product manufacturers in Southern India.
📍Locational advantage combining proximity to iron ore reserves and access to massive export ports within 450 km.
♻️Industry-leading green footprint marked by CII-certified green TMT bars and heavy solar/wind reliance.
📈High barriers to entry fortifying its market share, yielding ₹4,202.05 Cr in revenue and aggressive PAT scaling in FY26.
Company Promoters
SK
Sandeep Kumar & Sunil Jallan
Promoters, A-One Steels India Ltd.
KJ
Krishnan Kumar Jalan
Promoter, A-One Steels India Ltd.
Key Selling Shareholders (OFS)
Sandeep Kumar₹20.00 Cr Estimated
Sunil Jallan₹20.00 Cr Estimated
Krishan Kumar Jalan₹10.00 Cr Estimated
📅 Key Dates
IPO Opens24 Sep 2026
IPO Closes28 Sep 2026
Allotment29 Sep 2026
Refund & Share Credit30 Sep 2026
Listing Day1 Oct 2026
💡 Quick Summary
Price Band₹385 – ₹405
Upper Price₹405 / share
Lot Size37 shares
Min. Investment (Retail)₹14,985
Issue Size₹405.00 Cr
ListingBSE, NSE
🏦 Registrar & Lead Manager
Lead Manager
PL Capital Markets Pvt.Ltd., Khambatta Securities
📍 Registered Address
A-One Steels India Ltd.
A-One House, No. 326, CQAL Layout,
Ward No. 08, Sahakarnagar,
Bangalore Urban, Karnataka — 560092
📞 080-45646000
[email protected]
A-One House, No. 326, CQAL Layout,
Ward No. 08, Sahakarnagar,
Bangalore Urban, Karnataka — 560092
📞 080-45646000
[email protected]
🛡️ Regulatory Note: Mainline IPO investments are subject to SEBI regulations. Always read the Prospectus/RHP before applying. Consult a SEBI-registered advisor before investing.
⚠️
Disclaimer: This page presents publicly available information from the A-One Steels IPO RHP for informational purposes only. It does not constitute investment advice. IPO investments are subject to market risk. Please read all offer documents and consult a SEBI-registered advisor before investing.
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