A-One Steels India Sets IPO Price Band at Rs 385-405 per Share for Rs 405 Crore Issue

Integrated steel manufacturer A-One Steels India Ltd has fixed the price band for its initial public offering (IPO) at ₹385 to ₹405 per equity share. The ₹405 crore public issue is scheduled to open for subscription on Thursday, September 24, 2026, and will close on Monday, September 28, 2026.

Anchor investor bidding will take place on Wednesday, September 23, 2026. The equity shares are slated to list on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on October 1, 2026.

Issue Structure and Key Dates

The IPO comprises a fresh issue of 87.65 lakh equity shares aggregating up to ₹355 crore, alongside an Offer for Sale (OFS) of 12.35 lakh shares valued at ₹50 crore by existing promoters. The total issue size was downscaled from an earlier proposed ₹650 crore outlined in the draft red herring prospectus.

Investors can bid for a minimum of 37 equity shares and in multiples of 37 shares thereafter. At the upper price band of ₹405, a single retail application requires a minimum investment of ₹14,985.

Tentative Issue Timetable:

• Anchor Bidding: September 23, 2026
• Issue Opening Date: September 24, 2026
• Issue Closing Date: September 28, 2026
• Basis of Allotment: September 29, 2026
• Refund Initiation & Demat Credit: September 30, 2026
• Listing Date: October 1, 2026

PL Capital Markets Pvt Ltd is acting as the sole book-running lead manager to the issue, while Bigshare Services Pvt Ltd is the registrar.

Utilization of IPO Proceeds

From the ₹355 crore gross proceeds generated through the fresh issue, the company has earmarked ₹250 crore for the pre-payment or partial repayment of outstanding borrowings. The remaining funds will be deployed towards general corporate purposes. The debt reduction is expected to lower finance costs and enhance balance sheet resilience amid prevailing interest rate conditions.

Green Initiatives and Operational Footprint

A-One Steels India operates a backward-integrated steel manufacturing model across southern India, with plants situated in Karnataka and Andhra Pradesh. Its aggregate installed manufacturing capacity stood at 17,33,100 metric tonnes per annum (MTPA) as of March 31, 2026. Its production range spans sponge iron, mild steel (MS) billets, thermo-mechanically treated (TMT) bars, hot-rolled (HR) and cold-rolled (CR) coils, as well as galvanised pipes, met coke, and ferro alloys.

A central highlight of the company's operating strategy is its rapid shift toward renewable power. In fiscal year 2026, the company consumed 5,007.53 lakh units of green electricity, which represented 83.20% of its total power consumption. The transition generated power cost savings of approximately ₹1.57 per unit during the period. To secure steady clean energy supplies, the company has tied up 10 long-term solar power purchase agreements and six wind power purchase agreements, sourcing a combined 230 MW of renewable power.

Financial Performance

The company demonstrated sharp growth in its latest financial results. For FY26, revenue from operations climbed to ₹4,148.57 crore, compared to ₹3,541.78 crore in FY25. Net profit witnessed a dramatic expansion, surging to ₹127.41 crore in fiscal 2026 from ₹7.71 crore in the previous fiscal year, driven by operational integration and energy cost rationalization.

Tags: A-One Steels India BSE NSE Primary Market Steel Sector SEBI