A-One Steels Lists At ₹462 On BSE With 14% Premium, ₹405 Crore IPO Draws 11.61 Times Subscription
Mumbai: A-One Steels India Ltd shares began trading at a premium on Thursday, October 1, with the steel manufacturer listing about 14 per cent above its ₹405 IPO issue price on the BSE . The stock opened at ₹462 on the BSE, giving investors a ₹57 gain per share over the issue price. On the NSE, A-One Steels shares listed at ₹455, representing a premium of 12.34 per cent, or ₹50 per share. The…
On October 1, A-One Steels India Ltd shares debuted on the Bombay Stock Exchange (BSE) above their issue price, trading at ₹462, a 14% premium over the ₹405 IPO price. The stock opened at ₹462 on the BSE, marking a ₹57 gain per share compared to the offering price. On the National Stock Exchange (NSE), the company's shares launched at ₹455, representing a 12.34% premium, or ₹50 per share.
The company's market value at its trading inception was ₹3,223 crore. The IPO price band was set between ₹385 and ₹405 per share, and the final issue price was fixed at the higher end. The public issue received bids for 11.61 times the shares offered by the close of the bidding period on Monday. The issue comprised a fresh issue worth ₹355 crore and an offer for sale (OFS) of up to ₹50 crore.
However, the company had reduced its IPO size from the originally proposed ₹650 crore, reducing it to ₹405 crore – ₹245 crore less than initially planned. The ₹250 crore net fresh issue proceeds will be used to prepay or partially repay certain outstanding borrowings, with the remaining funds supporting general corporate purposes.
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