A-One Steels fixes price band for Rs 405-crore IPO opening on September 24
A-One Steels IPO has fixed its price band at Rs 385-405 per share and will open for subscription on September 24. The Rs 405 crore issue comprises a fresh issue and OFS, with proceeds primarily earmarked for repayment of outstanding borrowings.
By Ritesh Presswala, ETMarkets.com |
ETMarkets.com
The much-awaited A-One Steels IPO has fixed its price band at Rs 385 to Rs 405 per equity share, with the issue set to open for subscription on September 24, 2026. Investors will have a three-day window to place their bids, with the issue closing on September 28, 2026.
The Rs 405 crore public issue is a book-built IPO, comprising a fresh issue of 87.65 lakh shares worth Rs 355 crore and an offer for sale (OFS) of 12.35 lakh shares amounting to Rs 50 crore.
The IPO will open on September 24, 2026, and close on September 28, 2026. The basis of allotment is expected to be finalised on September 29, while the shares are proposed to be listed on both the NSE and BSE on October 1, 2026, subject to the applicable approvals and timelines.
The IPO price band has been fixed at Rs 385–Rs 405 per share, with a lot size of 37 shares. At the upper end of the price band, a retail investor would need to invest a minimum of Rs 14,985 for one lot of 37 shares.
The floor price is 38.5 times the face value of the equity shares, while the cap price is 40.5 times the face value. Each equity share has a face value of Rs 10.
Investors can bid for a minimum of 37 equity shares and in multiples of 37 shares thereafter.
Read more:NSE IPO Tracker: Catch all the highlights here
Based on diluted EPS for FY26, the Company’s price-to-earnings (P/E) ratio stands at 20.84x at the lower end of the price band of Rs 385 and 21.92x at the upper end of Rs 405. In comparison, the average P/E ratio of its industry peer group for FY26 is 45.20x.
Eligible employees applying under the employee reservation portion will be entitled to a Rs 38 discount per equity share.
PL Capital Markets Pvt. Ltd. is the book-running lead manager for the issue, while Bigshare Services Pvt. Ltd. has been appointed as the registrar.
The company’s profit after tax (PAT) surged by 1,552%, from Rs 8 crore in FY25 to Rs 127 crore in FY26, marking a significant improvement in profitability.
The company has a strong focus on renewable energy, supported by long-term solar and wind power purchase agreements. Its TMT bars are CII-certified green products and are manufactured in multiple sizes. The company also produces sponge iron at its Koppal and Bellary facilities and is setting up a 10 MW waste-heat-recovery power plant. As of November 30, 2024, A-One Steels had 2,459 employees, including 1,377 permanent and 1,082 contractual employees, with 63 personnel in sales and marketing.
Disclaimer: The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here
The Rs 405 crore public issue is a book-built IPO, comprising a fresh issue of 87.65 lakh shares worth Rs 355 crore and an offer for sale (OFS) of 12.35 lakh shares amounting to Rs 50 crore.
The IPO will open on September 24, 2026, and close on September 28, 2026. The basis of allotment is expected to be finalised on September 29, while the shares are proposed to be listed on both the NSE and BSE on October 1, 2026, subject to the applicable approvals and timelines.
The IPO price band has been fixed at Rs 385–Rs 405 per share, with a lot size of 37 shares. At the upper end of the price band, a retail investor would need to invest a minimum of Rs 14,985 for one lot of 37 shares.
The floor price is 38.5 times the face value of the equity shares, while the cap price is 40.5 times the face value. Each equity share has a face value of Rs 10.
Investors can bid for a minimum of 37 equity shares and in multiples of 37 shares thereafter.
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Read more:NSE IPO Tracker: Catch all the highlights here
Based on diluted EPS for FY26, the Company’s price-to-earnings (P/E) ratio stands at 20.84x at the lower end of the price band of Rs 385 and 21.92x at the upper end of Rs 405. In comparison, the average P/E ratio of its industry peer group for FY26 is 45.20x.
Eligible employees applying under the employee reservation portion will be entitled to a Rs 38 discount per equity share.
PL Capital Markets Pvt. Ltd. is the book-running lead manager for the issue, while Bigshare Services Pvt. Ltd. has been appointed as the registrar.
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Objects of the issue
The Company proposes to utilise the Net Proceeds of the Issue primarily towards the pre-payment or partial repayment of certain outstanding borrowings availed by the Company, with an estimated allocation of Rs 250 crore. The balance, if any, will be utilised towards General Corporate Purposes, subject to applicable laws and regulations.Financial performance
A-One Steels India Ltd. reported a 18% increase in total income, rising from Rs 3,570 crore in FY25 to Rs 4,202 crore in FY26, reflecting continued growth in its revenues during the year.ADVERTISEMENT
The company’s profit after tax (PAT) surged by 1,552%, from Rs 8 crore in FY25 to Rs 127 crore in FY26, marking a significant improvement in profitability.
About A-One Steels India Ltd.
A-One Steels India Ltd., incorporated in 2012, is a backwards-integrated steel manufacturer with a diversified portfolio of long and flat steel products, along with industrial products such as met coke, silicon manganese and ferrosilicon. The company manufactures sponge iron, MS billets, TMT bars, HR/CR coils, HR/CR pipes and galvanised tubes. Its products cater to construction, infrastructure, automotive, power, industrial and other end-use sectors. The company operates six manufacturing facilities across Karnataka and Andhra Pradesh, strategically located near iron ore sources and major ports to support efficient raw material sourcing and product transportation.The company has a strong focus on renewable energy, supported by long-term solar and wind power purchase agreements. Its TMT bars are CII-certified green products and are manufactured in multiple sizes. The company also produces sponge iron at its Koppal and Bellary facilities and is setting up a 10 MW waste-heat-recovery power plant. As of November 30, 2024, A-One Steels had 2,459 employees, including 1,377 permanent and 1,082 contractual employees, with 63 personnel in sales and marketing.
Disclaimer: The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here
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