A-One Steels India IPO Details Details

A-One Steels IPO is a book-built issue of ₹405 crore, comprising a fresh issue of 87.65 lakh shares worth ₹355 crore and an Offer for Sale (OFS) of 12.35 lakh shares worth ₹50 crore. The IPO will open for subscription on September 24, 2026, and close on September 28, 2026. The basis of allotment is expected to be finalized on September 29, 2026, while the shares are tentatively scheduled to list on the BSE and NSE on October 1, 2026. The company has fixed the price band at ₹385–₹405 per share. The minimum application size for retail investors is 37 shares, requiring an investment of ₹14,985 at the upper price band of ₹405 per share. PL Capital Markets Pvt. Ltd. is acting as the Book Running Lead Manager (BRLM) for the issue, while Bigshare Services Pvt. Ltd. is the registrar. Key IPO Details Issue Size: ₹405 crore Fresh Issue: ₹355 crore Offer for Sale: ₹50 crore Price Band: ₹385–₹405 per share Lot Size: 37 shares Minimum Retail Investment: ₹14,985 IPO Open Date: September 24, 2026 IPO Close Date: September 28, 2026 Expected Allotment: September 29, 2026 Tentative Listing Date: October 1, 2026 Listing: BSE & NSE Lead Manager: PL Capital Markets Pvt. Ltd. Registrar: Bigshare Services Pvt. Ltd. Investors should refer to the company’s Red Herring Prospectus (RHP) for comprehensive information regarding its business operations, financial performance, risk factors, objectives of the issue, and other material disclosures before making an investment decision.

IPO Details

IPO Date 24 Sep 26
Listing Date 01 Oct 26
Face Value ₹10 per share
Price Band ₹385 to ₹405
Lot Size 37
Sale Type Fresh capital cum OFS
Issue Type Bookbuilding IPO
Listing At NSE, BSE
Total Issue Size ₹405 Cr
Fresh Issue
₹355 Cr
Offer for Sale
Share Holding Pre Issue 6,84,65,270 shares
Share Holding Post Issue 7,72,30,702 shares

IPO DRHP Status

Description Details

IPO Reservation

Investor Category Shares Offered
QIB Shares Offered Not more than 50% of the Net Offer
Retail Shares Offered Not less than 35% of the Net Offer
NII Shares Offered Not less than 15% of the Net Offer

About A-One Steels India IPO Details.


Incorporated in 2012, A-One Steels India Limited is a backward-integrated steel manufacturer with a diversified product portfolio comprising long steel products, flat steel products, and industrial products used in steel manufacturing. The company operates across multiple stages of the steel value chain. It manufactures MS billets, which are further processed into HR and CR coils, HR pipes, CR pipes, galvanized tubes, and TMT bars. This backward-integrated manufacturing model enables the company to exercise greater control over production processes, product quality, and manufacturing costs. In addition to finished and semi-finished steel products, the company manufactures industrial products such as met coke, silicon manganese, and ferrosilicon, which are also sold in the open market. Ferrosilicon is an important alloying material used extensively in steel manufacturing. Green Energy & Sustainable Manufacturing According to the CRISIL Report, the company sources a significant proportion of green energy compared with its peers. Its TMT bars have been certified as green products by the Confederation of Indian Industry (CII) and are manufactured in various sizes at its Gauribidanur and Hindupur facilities. Steel manufacturing is highly dependent on a consistent supply of power and fuel. To support its energy requirements while increasing the use of renewable energy, the company has entered into long-term Power Purchase Agreements (PPAs) for solar and wind energy, with contractual periods ranging from 15 to 25 years. The company is also setting up a 10 MW power plant with a waste heat recovery system on approximately 39.29 acres of land, further supporting its efforts toward energy efficiency and captive power generation. Manufacturing Facilities A-One Steels operates six manufacturing facilities, including five facilities in Karnataka and one in Hindupur, Andhra Pradesh. Its manufacturing presence includes locations such as Gauribidanur, Bellary, Koppal, Chikkantapur, and Hindupur. The company manufactures sponge iron at its Koppal facility, operated through Vanya Steels, as well as at its Bellary plant. Its manufacturing facilities benefit from their proximity to key raw-material sources and transportation infrastructure. The plants are located close to major iron ore sources and within approximately 450 km of ports such as Ennore, New Mangalore, and Goa-Mormugao, supporting efficient procurement and transportation of raw materials and finished products. End-User Industries The company's products cater to a broad range of industries and infrastructure applications, including construction, infrastructure projects, power plants, dams, airports, bridges, flyovers, stadiums, highways, marine structures, industrial buildings, and high-rise residential developments. Key Products Sponge Iron: Primarily used as a raw material in steel manufacturing for the production of steel billets and other steel products. MS Billets: Semi-finished steel products used as raw material for manufacturing bars, rods, TMT bars, and other structural steel products. TMT Bars: Primarily used for reinforcing concrete structures across construction and infrastructure projects. HR Coils: Used in the manufacturing of pipes, tubes, automotive frames, structural components, and various industrial equipment. CR Coils: Used in automotive panels, appliances, precision components, and other finished products requiring dimensional accuracy and a smooth surface finish. Employees As of November 30, 2024, the company had a workforce of 2,459 employees, comprising 1,377 permanent employees and 1,082 contractual employees. Its sales and marketing team consisted of 63 employees. Competitive Strengths One of the large backward-integrated steel product manufacturers in Southern India, with a diversified product portfolio. Strategically located manufacturing facilities offering proximity to raw-material sources, ports, and key markets. Established and well-connected distribution network with a presence across multiple sales channels. Integrated manufacturing operations that provide greater control over production costs, product quality, and pricing. Presence in a capital-intensive industry with relatively high entry barriers. Strong brand recognition supported by product quality, innovation, and a diversified product range. Significant use of renewable and green energy in steel manufacturing, supported by long-term solar and wind power arrangements.

Company Financials (Restated)

Period Ended 31 Mar 2026 31 Mar 2025 31 Mar 2024
Assets 3,191.31 2,753.06 2,395.87
Total Income 4,202.05 3,569.63 3,862.44
Profit After Tax 127.41 7.71 38.91
EBITDA 303.64 174.06 172.19
Net Worth 819.52 676.63 421.79
Amount in ₹ Crore

IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

# Issue Objects Est Amt (₹ Cr.)
1 Pre-payment or partial re-payment of a portion of certain outstanding borrowings availed by the Company 250.00
2 General Corporate Purposes 0.00

Key Performance Indicator (KPI)

KPI Mar 31, 2026 Mar 31, 2025
ROE 14.70%% 1.69%%
ROCE 12.86%% 7.03%%
Debt/Equity - -
RoNW 15.43%% 1.25%%
PAT Margin 3.04%% 0.34%%
EBITDA Margin 7.29%% 4.91%%

Key Performance Indicator (KPI)

Pre IPO Post IPO
EPS Rs 18.61 16.50
The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP. The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.

IPO Registrar

  • Bigshare Services Pvt.Ltd.
  • 8657578989/8069219065/8069219060
  • ipo@bigshareonline.com
  • Visit Website

IPO Lead Manager(s)

Contact Details

A-One Steels India Ltd. Address
A-One House, No. 326, CQAL Layout, Ward No. 08, Sahakarnagar, Bangalore Urban, Karnataka, 560092

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