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A-One Steels India IPO
📅 Founded: 2012
📍 Bengaluru, Karnataka
👥 2,459 employees
🌐 aonesteelgroup.com
📋 Face Value: ₹10
🏦 Market Cap: ₹3,128 Cr
Price Band
₹385 – ₹405
Issue Size
₹405 Cr
Lot Size
37 shares
Min. Investment
₹14,985
GMP
+₹54 (+13.3%)
Est. Return
+13.3%
Listing Date
01 Oct 2026
Registrar
Bigshare Services
A-One Steels India IPO at a glance
A-One Steels India IPO was a mainboard issue of ₹405 Cr at a price band of ₹385 – ₹405 per share, open from 24 Sep 2026 to 28 Sep 2026. It was subscribed 1.43 times overall (QIB 0.1x, NII 2.29x, retail 1.87x). The shares listed on BSE, NSE on 01 Oct 2026.
IPO Signal Analysis
📊 Based on Grey Market Premium (GMP) & Subscription Data — not financial advice
GMP Signal
High Interest
GMP: +13.3% above issue price
⭐ Overall Signal
High Interest
GMP + Subscription combined
Not financial advice
Not financial advice
Subscription Signal
Moderate Interest
1.43x subscribed
Issue Details
Fresh Issue₹355 Cr
Offer for Sale (OFS)₹50 Cr
Total Issue Size₹405 Cr
Face Value₹10
Market Cap (at issue)₹3,128 Cr
Listing ExchangeBSE, NSE
📅 Open Date24 Sep 2026
🔒 Close Date28 Sep 2026
✂️ Cut-off Price Date28 Sep 2026
🎟️ Allotment Date29 Sep 2026
💸 Refund Initiation30 Sep 2026
📂 Demat Credit30 Sep 2026
📈 Listing Date01 Oct 2026
Objects of the Issue
- 💰 Repayment of borrowings — ₹250 Cr
- 💰 General corporate purposes
About the Company
A-One Steels India is a Bengaluru-based steel maker that produces long products such as TMT bars, flat products such as HR and CR coils, and pipes. It also makes industrial inputs including met coke and ferrosilicon at plants in Karnataka and Andhra Pradesh, close to iron ore sources.
Strengths
- ✅ Backward-integrated steel maker — from sponge iron and billets to coils, pipes and TMT
- ✅ Six manufacturing units in Karnataka and at Hindupur
- ✅ Revenue of over ₹4,000 Cr in FY26
Risk Factors
- ⚠️ Profit is volatile — PAT fell to under ₹8 Cr in FY25 before recovering
- ⚠️ Steel prices and raw-material costs are cyclical
- ⚠️ Borrowings of over ₹1,000 Cr
- ⚠️ Low net margin of about 3%
Subscription Status
1.43x Overall
QIB: 0.1x
NII: 2.3x
RII: 1.9x
GMP Trend
Day-wise Subscription
| Day | QIB | NII | RII | Overall |
|---|---|---|---|---|
| Day 1 | — | — | — | 0.00x |
| Day 2 | — | — | — | 0.00x |
| Day 3 | — | — | — | 0.00x |
Share Reservation
QIB
50%
NII
15%
RII
35%
Allocation as per SEBI regulations for Mainboard IPO
Anchor Investors
Anchor allotment details not yet available.
Promoter Holding
85.86%
Pre-IPO
→ -11.3%
74.51%
Post-IPO
Founders & Leadership
SK
Sandeep Kumar
Promoter
Promoter of the company
SJ
Sunil Jallan
Promoter
Promoter of the company
IPO Timeline
✓
Open Date
24 Sep 2026
✓
Close Date
28 Sep 2026
✓
Allotment Date
29 Sep 2026
✓
Listing Date
01 Oct 2026
Key Financials
Revenue₹4,202.05 Cr
PAT₹127.41 Cr
EPS₹16.5
P/E Ratio24.55x
ROE15.43%
Market Cap₹3,128 Cr
Company Financials (Restated Consolidated)
| Period Ended | FY26 | FY25 | FY24 |
|---|---|---|---|
| Total Income | 4202.05 | 3569.63 | 3862.44 |
| Profit After Tax | 127.41 | 7.71 | 38.91 |
| EBITDA | 303.64 | 174.06 | 172.19 |
| Net Worth | 819.52 | 676.63 | 421.79 |
| Total Borrowing | 1010.94 | 963.67 | 1042.53 |
Amount in ₹ Crore
Key Performance Indicators (KPI)
| KPI | FY26 | FY25 |
|---|---|---|
| ROE (%) | 15.55 | 1.14 |
| EBITDA Margin (%) | 7.23 | 4.88 |
| Debt / Equity | 1.23 | 1.42 |
| Net Worth (Rs. Cr) | 819.52 | 676.63 |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS | ₹16.5 | — |
| P/E (x) | 24.55x | — |
| ROE (%) | 15.43% | — |
| Promoter Holding | 85.86% | 74.51% |
| Market Cap | ₹3,128 Cr | |
IPO Registrar
A-One Steels India IPO FAQs
A-One Steels India IPO is a mainboard IPO with an issue size of ₹405 Cr at a price band of ₹385 – ₹405. Minimum lot size is 37 shares (minimum investment ~₹14,985). Opened on 24 Sep 2026 and closed on 28 Sep 2026. Listed on BSE, NSE. Registrar: Bigshare Services.