Bengaluru-based A-One Steels India to raise ₹405 crore in an IPO
Promoters say, the company’s manufacturing plants in South of India, mostly in Karnataka, will cater to the demand from the entire country
Bengaluru-based integrated steel manufacturer A-One Steels India Limited (ASIL) plans to raise ₹405 crore through an IPO, with the shares set to debut on October 1, 2026, on the BSE and NSE. The company has fixed the price band for its IPO between ₹385 and ₹405 per share, with the issue comprising a fresh issue and an offer for sale (OFS).
The proceeds from the IPO, amounting to ₹355 crore, are primarily intended to repay outstanding borrowings, with ₹250 crore specifically earmarked for this purpose. The South-India focused steel makers, led by promoters Sandeep Kumar, Sunil Jalan, and Krishan Kumar Jalan, reported a significant surge in net profits from ₹7.7 crore in FY25 to ₹127.4 crore in FY26, driven by a 17.1% increase in operational revenue, which reached ₹4,148 crore.
This substantial profitability growth is attributed to the company's aggressive backward integration model and operational innovations, notably being the first steel producer in Karnataka to implement direct hot charging of billets, which has enabled the reduction of fuel costs. The leadership also highlighted that 83.2% of the company's electricity consumption is sourced from green energy, achieved through 230 MW of long-term wind and solar Power Purchase Agreements (PPAs).
This green switch has saved the firm approximately ₹1.57 per unit in energy overheads, contributing to a 240 basis point boost in EBITDA margins.
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