A-One Steels India IPO

About A-One Steels India IPO

A-One Steels India IPO, a mainboard issue, will open for subscription on Thursday, September 24, 2026, and close on Monday, September 28, 2026. The allotment is expected on Tuesday, September 29, with the shares proposed to list on the BSE and NSE on Thursday, October 1, 2026.

The IPO has a price band of ₹385–₹405 per share, with a lot size of 37 shares. At the upper price band, retail investors need to invest a minimum of ₹14,985.

The ₹405 crore issue comprises a fresh issue of 0.88 crore shares worth ₹355 crore and an offer for sale of 0.12 crore shares worth ₹50 crore.

A-One Steels India is a vertically integrated steel manufacturer based in southern India, with a diversified portfolio of long and flat steel products and industrial products used in steel manufacturing.

Objectives of A-One Steels India IPO

• Pre-payment or partial re-payment of a portion of certain outstanding borrowings availed by the company.
  
• General corporate purposes.
  

Industry Outlook

Growth momentum for steel remained robust in fiscal 2025 at 11.6% and moderated to 8% in fiscal 2026 and is expected to remain between 6.5-8.5% over fiscal 2027 to 2031, above the decadal average. On the back of four consecutive years of double-digit growth, fiscal 2026 witnessed moderation. The domestic demand growth projected in fiscal 2027 is driven by a modest demand growth across the segments. Infrastructure is expected to witness a growth rate of 5-7% year-on-year. Similarly, building and housing segments are expected to witness a growth rate of 5-7% year-on-year. The growing preference for steel-intensive construction methods is expected to remain a key demand driver for the domestic steel industry. Infrastructure and construction account for nearly 65% of India’s steel consumption, supported by increasing adoption of RCC structures in residential and infrastructure projects and rising penetration of pre-engineered steel buildings in industrial, logistics and commercial applications. In the transport segment, production growth rates are expected to moderate from a high base. However, production uncertainties in end-user sectors due to the energy crisis, coupled with high steel prices, are expected to affect demand in fiscal 2027. The extent of the West Asia conflict remains monitorable.

About A-One Steels India

A-One Steels India is a backward/vertically integrated steel manufacturer based in southern India, with a diversified product portfolio comprising long and flat steel products, as well as industrial products used in steel manufacturing. As on date of the company’s Red Herring Prospectus, the company’s manufactured product portfolio consists of 10 steel products and industrial products. As per CRISIL Report, an integrated steel manufacturing setup allows a company to operate across the value chain, from raw material processing to steelmaking and downstream products.

Strengths of A-One Steels India

• Backward-integrated steel products manufacturer in southern India with a diversified product portfolio.
• Business operations benefit from the strategic location advantage.
• Diversified sales channels and customer base.
• Well-positioned in an industry characterised by high entry barriers, with access to cost-efficient manufacturing inputs.
• Brand presence supported by product quality, diversified offerings and targeted marketing initiatives.
• Use of green energy in the manufacture of steel products and a certified green product portfolio.
• Experienced promoters supported by a strong management and execution team.

Risks of A-One Steels India

• The company’s proposed expansion and infrastructure initiatives may involve significant capital outlay, operational complexity and regulatory dependencies, and may not yield the expected benefits.
• The company enters into certain related-party transactions in the ordinary course of business and cannot assure that such transactions will not adversely affect its business, results of operations, cash flows or financial condition.
• The company derives a substantial portion of its revenue from the sale of three key products: Pipes and Tubes, TMT Bars and Sponge Iron.
• More than 50% of the company’s Revenue from Operations has historically been concentrated in Karnataka.
• The company’s business is dependent on the performance of the key industries in which its customers operate.

Anchor Investor Bidding Date

Wednesday, September 23, 2026

IPO Registrar and Book Running Lead Managers

Registrar Details
Bigshare Services Pvt.Ltd.
Email: ipo@bigshareonline.com
Tel: 8657578989/8069219065/8069219060

Book Running Lead Manager

• PL Capital Markets Pvt.Ltd.
  
• Khambatta Securities Ltd.
  

A-One Steels India Contact Details
A-One House, No. 326, CQAL Layout, Ward No. 08, Sahakarnagar,
Bangalore Urban, Karnataka, 560092
Email: legal@aonesteelgroup.com
Phone: 080-45646000

A-One Steels India Business Model

The company earns its revenue as a backward/vertically integrated steel manufacturer with a diversified product portfolio comprising long and flat steel products, as well as industrial products used in steel manufacturing.

A-One Steels India Growth Trajectory

A-One Steels India’s Total Income for FY26 was ₹4202.05 crore, whereas in FY25 and FY24 it was ₹3569.63 crore and ₹3862.44 crore, respectively.

The Profit After Tax for FY26 was ₹127.41 crore, whereas in FY25 and FY24 it was ₹7.71 crore and ₹38.91 crore, respectively.

Their EBITDA for FY26 was ₹303.64 crore, whereas in FY25 and FY24 it was ₹174.05 crore and ₹172.19 crore, respectively.

A-One Steels India Market Position

As of the date of the company’s Red Herring Prospectus, the company and its subsidiaries operate six manufacturing units across Karnataka and Andhra Pradesh, comprising facilities located at Gauribidanur, Hindupur, Chikkantapur, Bellary and Koppal.

As of 31 March 2026, the company’s Total Income, Profit After Tax, and EBITDA were ₹4202.05 crore, ₹127.41 crore, and ₹303.64 crore, respectively.

How to apply for A-One Steels India IPO?

• Step 1: Log in to your Kotak Neo Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details. Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification. Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.