A-ONE STEELS INDIA LIMITED IPO
Offer terms, application timeline, financial context and company details in one place.
Price per share₹40537 shares per lot · indicative
Opens24 Sept 2026
Closes28 Sept 2026
AllotmentNot reported
Listing1 Oct 2026
Offer
Issue at a glance
- Issue size
- ₹1.44 crore
- Face value
- ₹10
- Issue method
- Book Building
- Fresh issue
- ₹1.44 crore
- Symbol
- AONESTEELS
- ISIN
- INE0OTC01025
Demand
As of 28 Sept 2026, 12:02 amSubscription
0.99×overall subscribed
| Investor category | Applications | Shares bid | Subscribed |
|---|---|---|---|
| Qualified Institutional Buyers(QIBs) | — | 1,90,254 | 0.09× |
| Foreign Institutional Investors(FIIs) | — | 1,87,664 | — |
| Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) | — | 0 | — |
| Mutual funds | — | 0 | — |
| Others | — | 2,590 | — |
| Non Institutional Investors | — | 24,48,290 | 1.56× |
| Non Institutional Investors(Bid amount of more than Ten Lakh Rupees) | — | 14,10,477 | 1.35× |
| Corporates | — | 22,385 | — |
| Individuals(Other than RIIs) | — | 12,88,488 | — |
| Others | — | 99,604 | — |
| Non Institutional Investors(Bid amount of more than Two Lakh Rupees upto Ten Lakh Rupees) | — | 10,37,813 | 1.98× |
| Corporates | — | 4,144 | — |
| Individuals(Other than RIIs) | — | 9,65,700 | — |
| Others | — | 67,969 | — |
| Retail Individual Investors(RIIs) | — | 46,00,432 | 1.26× |
| Cut Off | — | 39,22,629 | — |
| Price bids | — | 6,77,803 | — |
| Employees | — | 65,823 | 1.14× |
| Cut Off | — | 57,239 | — |
| Price Bids | — | 8,584 | — |
| Total | — | 73,04,799 | 0.99× |
Demand by bid price
₹38573,04,799 shares
₹38672,99,878 shares
₹38772,99,471 shares
₹38872,99,249 shares
₹38972,99,027 shares
₹39072,98,916 shares
₹39172,98,028 shares
₹39272,97,991 shares
₹39572,97,954 shares
₹39672,97,325 shares
₹39772,97,214 shares
₹39872,97,177 shares
₹39972,97,103 shares
₹40072,97,029 shares
₹40172,95,364 shares
₹40272,94,920 shares
₹40372,94,772 shares
₹40472,94,624 shares
₹40572,94,550 shares
Business
About the company
Incorporated in 2012, A-one Steels India Limited is a backward-integrated steel manufacturer with a diversified product portfolio, offering both long and flat steel products, as well as industrial products used in steel manufacturing. The company manufactures HR and CR coils from MS billets, which are then converted into HR pipes, CR pipes, and galvanized tubes. It also produces TMT bars from MS billets in long steel products. The company also manufactures industrial products like met coke and silicon manganese/ferrosilicon, which are sold in the open market. Ferrosilicon is essential in the steel industry for alloying. The company sources significant green energy compared to peers (Source: CRISIL Report). Its TMT bars, certified as green products by CII, are produced in various sizes at the Gauribidanur and Hindupur plants.
Performance
Financial snapshot
| Particulars | FY25 | FY26 |
|---|---|---|
| Revenue | ₹3,541.78 cr | ₹4,148.56 cr (17.13%) |
| PAT | ₹7.71 cr | ₹127.41 cr (1,552.53%) |
| PAT Margin | 0.22 % | 3.07 % (1,295.45%) |
| EBITDA | ₹174.06 cr | ₹303.64 cr (74.45%) |
| EBITDA Margin | 4.91 % | 7.32 % (49.08%) |
| ROE | 1.14 % | 15.55 % |
| ROCE | 7.03 % | 12.86 % |
| D/E | 1.42 | 1.23 |
Research
What to consider
Business strengths
- Backward-Integrated & Diversified Steel PortfolioPresence across multiple stages of the steel manufacturing value chain, enabling production of long steel, flat steel and industrial products and reducing dependence on any single product category.
- Strategic Manufacturing LocationFacilities located close to raw material sources, providing better access to materials, lower transportation costs and logistics benefits, supporting improved operating margins.
- Diversified Sales Channels & Customer BaseProducts are sold through direct retail, authorised distributors, institutional customers, intermediaries and trading channels, serving dealers, construction and infrastructure companies and other institutional and bulk customers.
Key risks
- Expansion & Capital Expenditure RisksProposed expansion and infrastructure initiatives involve significant capital, operational complexity and regulatory dependencies. Delays or failure to achieve expected benefits may adversely affect business, cash flows and growth prospects.
- Related Party Transaction RiskThe Company enters into related party transactions in the ordinary course of business. Although these are conducted on an arm’s-length basis and comply with applicable laws, they may still adversely affect business, cash flows and financial condition.
- Dependence on End-Use IndustriesBusiness performance depends on industries such as construction, infrastructure, power, transportation and industrial sectors. Economic cyclicality, lower demand or availability of substitute materials in India or globally could adversely affect business and financial performance. Unlisted price Rs 300 seller rumours
Context
Peer comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (₹ per share) | P/E (x) |
|---|---|---|---|---|
| A-One Steels India | 18.47 | 18.47 | 119.93 | 15.43 |
| MSP Steel and Power | 0.60 | 0.56 | 18.18 | 61.52 |
| Jai Balaji Industries | 1.42 | 1.42 | 24.75 | 45.76 |
| Shyam Metallics and Energy | 38.10 | 37.97 | 412.81 | 28.31 |
Filings
Offer documents
Advertisement30 Sept 2026Final Prospectus30 Sept 2026Draft Prospectus/Draft Red Herring Prospectus30 Dec 2024Anchor Allocation ReportBidding CentersProcessing of ASBA ApplicationsRatios / Basis of Issue PriceRed Herring ProspectusSample Application FormsSecurity Parameters (Post Anchor)Security Parameters (Pre Anchor)A-One Steels IPO DRHP