A-One Steels India to launch ₹405 crore IPO on Sep 24
The three-day public issue will conclude on September 28. Bidding for anchor investors will take place on September 23, according to the company's Red Herring Prospectus (RHP).
A-One Steels India Ltd, an integrated steel manufacturer based in southern India, plans to launch its ₹405 crore IPO on September 24. The three-day public issue will conclude on September 28, with bidding for anchor investors occurring on September 23, as per the company's Red Herring Prospectus. The IPO consists of a fresh equity share issue worth Rs 355 crore and an Offer For Sale of up to Rs 50 crore by promoters.
The company has reduced its issue size from the initially proposed Rs 650 crore in December 2024. Net proceeds from the fresh issue will be used to pre-pay certain outstanding borrowings, with the remainder allocated for general corporate purposes. A-One Steels produces a range of steel products and industrial goods, and has been increasingly utilizing renewable energy sources, sourcing 83.20% of its electricity from green electricity in fiscal 2026.
The company has entered into 16 long-term power purchase agreements and has an installed manufacturing capacity of 17,33,100 MTPA. A-One Steels reported revenue of Rs 4,148.57 crore and profit of Rs 127.41 crore in fiscal 2026, compared to Rs 3,541.78 crore and Rs 7.71 crore in fiscal 2025. Book-running lead managers are PL Capital Markets and Khambatta Securities, while Bigshare Services is the registrar to the issue. The shares will be listed on both the BSE and NSE.
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