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A-One Steels India IPOLISTED
A-One Steels India Limited is a backward-integrated steel manufacturer producing sponge iron, billets, TMT bars, HR/CR coils, pipes and ferro alloys across its facilities in South India.
Listing price
₹455
Listing gain
+12.35%
Current
₹455
Listed
01 Oct 26
Opens
24 Sept 26Closes
28 Sept 26Allotment
29 Sept 26Refund
30 Sept 26Demat
30 Sept 26Listing
01 Oct 26Listed at
₹455
+12.35% on 01 Oct 26
Overview
Price band
₹385-405
Lot size
37 shares
Min. investment
₹14,985
Issue size
₹405.00 Cr
100.00 L shares
Fresh issue
₹355 Cr
87.65 L shares
Offer for sale
₹50 Cr
12.35 L shares
Face value
₹10 / share
Issue type
Book Built Issue
Listing at
NSE, BSE
Reservation
| Category | Shares offered | % of issue |
|---|---|---|
| Anchor Investor | 29,85,160 | 29.85% |
| QIB | 19,87,592 | 19.88% |
| NII (HNI) | 14,91,825 | 14.92% |
| B-HNI | 9,94,550 | 9.95% |
| S-HNI | 4,97,275 | 4.97% |
| Individual | 34,80,926 | 34.81% |
| Employee | 54,496 | 0.54% |
| Total | 99,99,999 | 100% |
Lot size & investment
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 37 | ₹14,985 |
| Retail (Max) | 13 | 481 | ₹1,94,805 |
| S-HNI (Min) | 14 | 518 | ₹2,09,790 |
| S-HNI (Max) | 66 | 2,442 | ₹9,89,010 |
| B-HNI (Min) | 67 | 2,479 | ₹10,03,995 |
Listing performance
NSE/BSE: AONESTEELSListing gain
+12.35%
Gain per retail lot
₹1,850
Latest vs issue
—
GMP was
₹45 (+11.11%)
Issue price
GMP estimate
Listing price
Latest price appears here during market hours.
A-One Steels India Live GMP
Not enough GMP history yet to draw a trend.
Subscription
11 Oct, 12:56 pmOversubscribed 12.22 times · 5,77,416 applications
Total applications
5,77,416
Total bid amount
₹3,471 Cr
Category breakdown
| Category | Shares offered | Shares bid | Times | Bid amount |
|---|---|---|---|---|
| QIB | — | — | 7.69x | ₹619 Cr |
| NII (HNI) | — | — | 25.80x | ₹1,559 Cr |
| B-HNI | — | — | 26.18x | ₹1,055 Cr |
| S-HNI | — | — | 25.03x | ₹504 Cr |
| Retail | — | — | 9.09x | ₹1,282 Cr |
| Employee | — | — | 5.15x | ₹11.38 Cr |
| Total | — | — | 12.22x | ₹3,471 Cr |
Financials
(₹ in crores)
Key performance indicators
As of 31 Mar 2026ROE
14.7%
PAT Margin
3.04%
ROCE
12.86%
EBITDA Margin
7.29%
Debt to Equity Ratio
1.17
RoNW
15.43%
Valuation vs listed peers
EPS Pre IPO
₹18.61
EPS Post IPO
₹16.5
P/E Pre IPO
21.76
P/E Post IPO
24.55
Price-to-earnings
| Company | P/E | P/B | RoNW | Face value |
|---|---|---|---|---|
| MSP Steel & Power Ltd. | 13.8 | — | — | — |
| Jai Balaji Industries | 40.6 | — | — | — |
| Shyam Metalics and Energy Limited | 26.7 | — | — | — |
Peer median P/E 26.7× · Ratios as disclosed in the offer document.
Buzz AI analysis
From this IPO's filings and market data · educational, not investment advice
Revenue growth FY24 → FY26
+8.8%
Profit growth FY24 → FY26
+227.4%
P/E vs peer median
24.6× vs 26.7×
- PAT margin 3.0% and ROCE 12.9%.
- Priced below its listed-peer median P/E.
Strengths & risks
- Backward-integrated operations with better control over quality and supply.
- Diversified product portfolio across steel and industrial products.
- Strategic locations near iron ore sources and major ports.
- High renewable energy usage and green-certified products.
Buzz score · Neutral
From GMP, subscription and issue size
Objects of the issue
| Purpose | Amount (₹ Cr) |
|---|---|
| Pre-payment or partial re-payment of a portion of certain outstanding borrowings availed by the Company. | 250 |
| General Corporate Purposes. | - |
Company & documents
A-One Steels India Limited is a backward-integrated steel manufacturer in Southern India, offering a diversified portfolio of long steel, flat steel and industrial products across the steel value chain.
The company commenced operations in 2013 with MS billets and has an integrated manufacturing process covering sponge iron (DRI), MS billets and finished steel products such as TMT bars, HR/CR coils and pipes. Intermediate products are mainly used for captive consumption, with surplus sold in the open market.
A-One Steels also manufactures met coke, silicon manganese and ferro silicon. Its backward-integrated model helps maintain better control over product quality and availability, while reducing dependence on third-party suppliers.
The company’s products serve various construction, infrastructure, power and industrial applications, including bridges, highways, airports, dams, marine structures and high-rise buildings.
A-One Steels operates six manufacturing facilities across Karnataka and Andhra Pradesh, covering around 401.75 acres. The facilities are located in Gauribidanur, Bellary, Chikkantapur, Koppal and Hindupur, with two facilities in Bellary.
Product Portfolio:
- Sponge Iron: Intermediate product used in the company’s integrated steel manufacturing process.
- MS Billets: Semi-finished steel used for manufacturing downstream products such as TMT bars.
- TMT Bars: Reinforcement steel available in various grades and sizes for construction and infrastructure.
- HR Coils: Flat steel products used in downstream applications, including pipes.
- CR Coils: Cold-rolled steel products used for applications requiring specific surface and dimensional properties.
- Pipes & Tubes: Includes HR (MS) pipes, CR pipes and galvanized tubes and pipes for industrial and infrastructure applications.
- Met Coke & Ferro Alloys: Includes met coke, silicon manganese and ferro silicon, sold in the open market.
As of June 30, 2026, A-One Steels India Limited had a workforce of 2,459 personnel, comprising 1,377 permanent employees and 1,082 contractual employees. Its sales and marketing team consisted of 63 employees.
Registrar
Company contact
A-One Steels India Ltd.
A-One House, No. 326, CQAL Layout, Ward No. 08, Sahakarnagar, Bangalore Urban, Karnataka, 560092
Phone: 080-45646000
Email: legal@aonesteelgroup.com
Book running lead managers
- Khambatta Securities Limited
- PL Capital Markets Private Limited
Promoters
- Sandeep Kumar
- Sunil Jallan
- Krishnan Kumar Jalan