South-based steel producer A-One Steels India has announced its initial public offering (IPO) to raise ₹405 crore through public subscription. According to reports from The Economic Times, The Hindu BusinessLine, and NDTV Profit, the IPO will open for public subscription on September 24, 2026 and close on September 28, 2026. The three-day public issue will conclude on September 28, 2026, with bidding for anchor investors taking place on September 23, 2026. The company has set the price band at ₹385-405 per share, valuing the south-based steel producer at ₹3,128 crore. The company expects to finalise IPO share allotment by September 29, 2026, and equity shares are likely to begin trading on stock exchanges from October 1, 2026. PL Capital Markets and Khambatta Securities have been appointed as the book-running lead managers, while Bigshare Services serves as the registrar to the issue. The company aims to list on both BSE and NSE exchanges.
As reported by The Economic Times, The Hindu BusinessLine, and NDTV Profit, the company aims to raise ₹355 crore through the issuance of 87.65 lakh fresh shares, while promoters will sell shares worth ₹50 crore through an offer for sale (OFS) of 12.35 lakh shares. The issue size has been reduced from the ₹650 crore planned earlier in the draft offer document filed with SEBI in December 2024. The capital markets regulator approved the IPO papers in May 2025. Investors can bid for a minimum of 37 equity shares and thereafter in multiples of 37 shares. Accordingly, the minimum investment by retail investors in the offer would be ₹14,985 and the maximum would be ₹1,94,805. Of the net proceeds from the fresh issue, ₹250 crore will be used for pre-payment or partial repayment of certain outstanding borrowings, while the remaining amount will be utilised for general corporate purposes and offer expenses. Eligible employees applying under the employee reservation portion will be entitled to a ₹38 discount per equity share.
According to The Hindu BusinessLine and NDTV Profit, A-One Steels India operates six manufacturing units across Karnataka and Andhra Pradesh, with an aggregate installed capacity of 17,33,100 MTPA. The company is a backwards-integrated steel products manufacturer in southern India, producing long steel, flat steel, and industrial products including TMT bars, HR coils, sponge iron, and galvanized pipes. The company also manufactures MS billets and finished steel products such as MS pipes, CR pipes, and CR tubes, along with industrial products including met coke and ferro alloys. The company's promoters include Sandeep Kumar, Sunil Jallan, and Krishan Kumar Jalan, who will participate in the offer for sale component. As of March 31, 2026, the company had 2,459 employees, including 1,377 permanent and 1,082 contractual employees, with 63 personnel in sales and marketing.
As reported by The Economic Times, The Hindu BusinessLine, and NDTV Profit, A-One Steels India reported a remarkable profit after tax (PAT) surge of 1,552%, rising from ₹8 crore in FY25 to ₹127.41 crore in FY26. The company's revenue from operations increased to ₹4,148.57 crore in fiscal 2026 from ₹3,541.78 crore in fiscal 2025. The company's EBITDA surged 74.4 percent year-on-year to ₹303.6 crore from ₹174 crore, and margin expanded sharply to 7.31 percent from 4.91 percent. Based on diluted EPS for FY26, the company's price-to-earnings (P/E) ratio stands at 20.84x at the lower end of the price band and 21.92x at the upper end, compared to the average P/E ratio of 45.20x for its industry peer group for FY26. The company intends to utilise ₹250 crore from the net proceeds of the fresh issue to repay debt against total standalone outstanding borrowings of ₹864.4 crore as of July 15, 2026.
According to NDTV Profit, A-One Steels India has significantly increased its reliance on renewable and green electricity across its manufacturing operations. In fiscal 2026, the company sourced 5,007.53 lakh units of green electricity, accounting for 83.20 percent of its total electricity consumption. The firm reported savings of around ₹1.57 per unit in electricity costs during the fiscal. The company has entered into 10 long-term solar power purchase agreements and six long-term wind power purchase agreements, together sourcing 230 MW of renewable energy. This green energy initiative demonstrates the company's commitment to sustainable manufacturing practices while reducing operational costs.
