A-One Steels India Finalises Share Allotment for Rs 405 Crore IPO as Grey Market Premium Moderates

The share allotment for the initial public offering (IPO) of A-One Steels India Limited is set to be finalised on Tuesday, September 29, 2026. The Rs 405-crore public issue, which was open for bidding from September 24 to September 28, received strong participation across investor segments.

Investors who applied for the issue can verify their allotment status through the portals of the IPO registrar, Bigshare Services Private Limited, as well as the official websites of the BSE and the National Stock Exchange (NSE).

Subscription Highlights

The book-built issue witnessed healthy demand, closing with an overall subscription of 11.61 times. The issue garnered bids for shares worth more than Rs 3,470 crore across approximately 8.18 lakh applications:

• Non-Institutional Investors (NIIs): The high-net-worth individual category saw the strongest demand, getting subscribed 24.51 times.
• Retail Individual Investors (RIIs): The retail quota was subscribed 8.64 times.
• Qualified Institutional Buyers (QIBs): The institutional category was booked 7.30 times.
• Employee Reservation: The portion reserved for eligible employees saw a subscription of 4.87 times.

Ahead of the issue opening, the company mobilised Rs 120.90 crore from anchor investors on September 23, 2026.

Grey Market Premium (GMP) Update

In the unlisted market, shares of A-One Steels India are commanding a grey market premium (GMP) in the range of Rs 26 to Rs 30 per equity share. At the upper price band of Rs 405, this translates to an estimated listing premium of approximately 6% to 7%, indicating an expected debut price near Rs 431 to Rs 435.

The GMP has cooled from earlier highs of Rs 56 (about 14%), reflecting broader market adjustments. Market analysts note that grey market premiums remain unofficial indicators of investor sentiment and are subject to swift changes before trading begins.

Step-by-Step Guide to Check Allotment Status

Applicants can check whether they have secured shares through multiple channels once the basis of allotment is active:

Through Bigshare Services (Registrar):

• Navigate to the Bigshare Services IPO allotment portal.
• Select A-One Steels India Limited from the company drop-down menu.
• Choose your identification criteria: PAN, Application Number, or DP/Client ID.
• Enter the corresponding details along with the captcha code and click Submit or Search.

Through the BSE Website:

• Visit the BSE IPO application status page.
• Under Issue Type, select Equity.
• Choose A-One Steels India Limited from the Issue Name drop-down.
• Input your Application Number and PAN.
• Complete the reCAPTCHA verification and click Search.

Through the NSE Website:

• Access the NSE Equity and SME IPO allotment page.
• Select the issue symbol AONESTEELS.
• Enter your PAN and Application Number.
• Click Submit to retrieve the allotment record.

Issue Structure and Next Steps

The Rs 405-crore offering comprises a fresh issue of 87.71 lakh equity shares aggregating to Rs 355 crore and an offer for sale (OFS) of 12.35 lakh equity shares aggregating to Rs 50 crore.

The company intends to utilise Rs 250 crore from the net fresh issue proceeds towards the prepayment or partial repayment of outstanding borrowings, with the remaining capital set aside for general corporate purposes.

PL Capital Markets Private Limited and Khambatta Securities Limited served as the book-running lead managers for the issue. Following the allotment finalisation, unsuccessful bidders will see the initiation of refunds or unblocking of ASBA funds on Wednesday, September 30, 2026, alongside the credit of shares to the demat accounts of successful applicants. The stock is tentatively scheduled to debut on both BSE and NSE on Thursday, October 1, 2026.

Tags: A-One Steels India BSE NSE SEBI Bigshare Services Primary Market