Summary
The A-One Steels India IPO is a mainboard book-build IPO, scheduled to open on 24th September 2026 and close on 28th September 2026.
The IPO shares are to be listed on both the NSE and BSE, with the tentative listing scheduled for 1st October 2026.
The price band and lot size are yet to be announced.
A-One Steels India IPO is a mainboard book-building issue scheduled to open for subscription on 24 September 2026 and close on 28 September 2026. The company plans to raise around ₹405 crore through a combination of a fresh issue of approximately ₹355 crore and an offer for sale of around ₹50 crore. The shares are proposed to be listed on both the NSE and BSE, with the tentative listing date set for 1 October 2026. The price band and lot size are yet to be announced.
A-One Steels India IPO Key Details
The table below presents the essential details investors should know before applying for the A-One Steels India IPO.
| IPO Open Date | 24 September 2026 |
| Close Date | 28 September 2026 |
| Face value | ₹10 per share |
| Price Band | _ |
| IPO Lot Size | _ |
| Fresh issue | ₹355.00 crore approx |
| Offer for Sale | ₹50.00 crore approx |
| Type of issue | Book-building |
| Listing at | NSE and BSE |
| Total Issue Size (₹ Crore) | ₹405.00 cr approx |
| Minimum Investment | _ |
A-One Steels India IPO Timeline
Below is the complete schedule of events for the A-One Steels India IPO.
| Bid Opening | 24 September 2026 |
| Bid Closing | 28 September 2026 |
| Tentative Allotment | 29 September 2026 |
| Initiation of Refunds | 30 September 2026 |
| Credit of Shares to Demat | 30 September 2026 |
| Tentative Listing Date | 1 October 2026 |
| UPI mandate closing date | 28 September 2026 |
Key Performance Indicators of A-One Steels India IPO
The financial ratios highlight the company’s profitability, capital efficiency, and overall financial performance over the past three financial years.
| 31-03-2026 | 31-03-2025 | 31-03-2024 | |
| ROE (% before exceptional item) | 14.70 | 1.69 | 8.75 |
| ROCE (%) | 12.86 | 7.03 | 8.67 |
| Debt Equity (in times) | 1.17 | 1.34 | 2.34 |
| RoNW (%) | 15.43 | 1.25 | 9.12 |
| PAT Margin (% before exceptional item) | 3.04 | 0.34 | 1.01 |
| EBITDA margin (%) | 7.29 | 4.91 | 4.49 |
| Price to book |
A-One Steels India IPO Financial Details
The Financial information of the A-One Steels India IPO is as follows.
| FY 2025-2026 | FY 2024-2025 | FY 2023-2024 | |
| Revenue | 4,148.56 | 3,541.78 | 3,834.21 |
| Total Asset | 3,191.30 | 2,753.06 | 2,395.87 |
| Profit | 127.40 | 7.71 | 38.91 |
A-One Steels India IPO Subscription Status
The subscription data is not available yet.
Bidding is open from 10:00 AM to 5:00 PM on public issue days.
A-One Steels India IPO Grey Market Premium (GMP)
The reported GMP is currently ₹0. Since the IPO price band has not yet been announced, an estimated listing price cannot be calculated at this stage.
| GMP Date | GMP | Est. Listing Price | Est. Gain | Last updated |
| 16-09-2026 | ₹0 | ₹ | 0.00% | 16-09-2026, 5:55 |
| 15-09-2026 | ₹0 | ₹ | 0.00% | 15-09-2026, 5:55 |
| 14-09-2026 | ₹0 | ₹ | 0.00% | 14-09-2026, 5:55 |
| 13-09-2026 | ₹0 | ₹ | 0.00% | 13-09-2026, 5:55 |
| 12-09-2026 | ₹0 | ₹ | 0.00% | 12-09-2026, 13:50 |
GMP is the premium value of the share in the unofficial market before it opens for subscription.
A-One Steels India IPO Reservation
The following table shows the distribution of shares reserved for retail investors, QIBs, and NIIs under the IPO.
| Investor Category | Offered No. of Shares |
| QIBs | Not more than 50% of the net offer |
| NIIs | Not less than 15% of the net offer |
| Retails | Not less than 35% of the net offer |
| Total |
A-One Steels India IPO Prospectus
Investors can access the offered prospectus for the A-One Steels India IPO mentioned below.
About A-One Steels India Ltd.
A-One Steels India Limited was incorporated in 2012 and operates as a backwards-integrated steel manufacturer in southern India. Its operations cover different stages of steel production, with manufacturing facilities in Karnataka and Andhra Pradesh. The company has a diversified portfolio of long and flat steel products and industrial products used in steel manufacturing, including TMT bars, MS billets, HR and CR coils, pipes and tubes, sponge iron, met coke and ferro alloys. Its Hindupur facility in Andhra Pradesh manufactures MS billets, structural steel and TMT bars, while its Koppal facility in Karnataka, operated through subsidiary Vanya Steels, produces sponge iron.
As of 31 March 2026, A-One Steels India and its subsidiaries operated six manufacturing facilities across Karnataka and Andhra Pradesh, with an aggregate installed capacity of 17,33,100 MTPA for steel and industrial products. Its crude steel capacity stood at 5,70,000 MTPA.
Promoters:
- Sandeep Kumar
- Sunil Jallan
- Krishan Kumar Jalan
| Book Runner | PL Capital Markets Pvt. Ltd. Khambatta Securities Ltd. |
| Issue Registrar | Bigshare Services Pvt. Ltd. |
Purpose of A-One Steels India IPO
The company intends to deploy the funds raised through this public issue toward specific operational and strategic goals, as detailed in the table below.
| Particulars | Estimated Amount in ₹ Crores |
| Repayment or prepayment of outstanding borrowings | 250.00 |
| General corporate purpose | _ |
| Total | _ |
A-One Steels India Ltd.- Strengths and benefits
- Backwards-Integrated Manufacturing: A-One Steels operates across multiple stages of steel manufacturing, including sponge iron and finished steel products. This integrated structure can help the company manage raw material availability and production costs across parts of its value chain.
- Diverse Products: The company manufactures a range of steel and industrial products instead of relying on a single product category. Its portfolio includes TMT bars, MS billets, HR and CR coils, pipes and tubes, sponge iron and ferro alloys. This allows it to cater to construction, infrastructure and industrial applications.
A-One Steels India Ltd- Risks and limitations
- Fluctuating Steel Industry: Steel prices and demand can move significantly with changes in construction, infrastructure, economic activity and global markets. The company has specifically identified the cyclical nature of the steel industry and fluctuations in raw material and finished steel prices as risks.
- Expansion Plans Risk: A-One Steels has planned several expansion and infrastructure projects. These include a 10 MW waste heat recovery power plant, an iron ore beneficiation plant and a railway siding at its Koppal facility. Delays, cost increases, regulatory requirements or operational issues could affect the expected benefits from these projects.
- Related-Party Involvement: The company enters into certain related-party transactions in the ordinary course of business. The RHP notes that such transactions could affect its business, financial condition, cash flows or results if they are not managed effectively.
A-One Steels India IPO Review
A-One Steels India is entering the public market with a ₹405 crore issue comprising a ₹355 crore fresh issue and a ₹50 crore offer for sale. A significant portion of the fresh issue is proposed to be used for repayment or prepayment of outstanding borrowings, with the remaining amount intended for general corporate purposes.
The IPO price band, lot size and valuation-based measures are not yet available. Therefore, a fuller assessment of the issue’s valuation can be made only after the company announces the final price band. The reported GMP is currently ₹0, but GMP is unofficial and can change before listing.
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A-One Steels India IPO FAQ
A-One Steels India IPO is a mainboard book-building public issue of approximately ₹405 crore. It comprises a fresh issue of around ₹355 crore and an offer for sale of approximately ₹50 crore. The shares are proposed to be listed on the NSE and BSE.
Investors can apply for the IPO through a registered stockbroker or supported online IPO platform using their demat and trading account. UPI can be used to authorise the application and block the required funds in the bank account.
The IPO has both operating strengths and risks that investors should evaluate. The company has an integrated manufacturing model, a diversified product portfolio and improved FY2026 financial results. At the same time, its business remains exposed to steel-price cycles, fluctuating profitability and risks associated with expansion projects. The final price band will also be important for assessing the valuation of the issue.
The A-One Steels India IPO is scheduled to open on 24 September 2026 and close on 28 September 2026.
The lot size has not yet been announced. It will be known once the company discloses the final price band and issue details.
The tentative basis of allotment is scheduled for 29 September 2026. Refund initiation and credit of shares to eligible investors’ demat accounts are scheduled for 30 September 2026.
The shares are proposed to be listed on both the NSE and BSE on 1 October 2026, subject to the completion of the IPO process.
