A-One Steels IPO 2026: Price Band, GMP, Dates, Lot Size, Financials & Full Details

A-One Steels IPO 2026 is scheduled to open for subscription on September 24, 2026, and close on September 28, 2026. The IPO comprises a ₹355 crore fresh issue and a ₹50 crore Offer for Sale (OFS), taking the total issue size to ₹405 crore.

The price band has been fixed at ₹385 to ₹405 per share, with a face value of ₹10. Retail investors can apply for a minimum of 37 shares, requiring an investment of ₹14,985 at the upper price band. The shares are proposed to list on BSE and NSE on October 1, 2026.

A-One Steels India Limited is a backward-integrated steel manufacturer with operations spanning long and flat steel products as well as industrial products used in steel manufacturing.

A-One Steels IPO Details 2026

A-One Steels IPO Timeline

Dates are tentative and may be subject to change.

A-One Steels IPO GMP Today

As of September 17, 2026, the latest recorded A-One Steels IPO GMP is ₹0. With the upper price band at ₹405, the indicative listing price based on the current GMP is ₹405, implying a 0% premium.

GMP is based on unofficial grey-market activity and can change before listing. It should not be considered a guaranteed indication of the listing price.

A-One Steels IPO Subscription Status

The A-One Steels IPO will open on September 24, 2026. Live subscription data will become available once bidding begins and will be updated across QIB, NII and Retail categories.

A-One Steels IPO Day-wise Subscription Trend

A-One Steels IPO Current Subscription Data

The current subscription figures are not available yet as the IPO has not opened for bidding. The live subscription data will be updated after the issue opens.

A-One Steels IPO Lot Size

The minimum IPO bid is 37 shares, and investors can bid in multiples of 37.

Investment amounts are calculated at the upper price band of ₹405.

A-One Steels IPO Reservation

About A-One Steels India Limited

Incorporated in 2012, A-One Steels India Limited is a backward-integrated steel manufacturer with a diversified product portfolio covering both long and flat steel products.

The company manufactures HR and CR coils from MS billets, which are further processed into HR pipes, CR pipes and galvanized tubes. It also manufactures TMT bars from MS billets.

Its industrial product portfolio includes met coke, silicon manganese and ferrosilicon, which are used in steel manufacturing and sold in the open market.

The company operates six manufacturing facilities, with five located in Karnataka and one in Hindupur, Andhra Pradesh. Its facilities are positioned close to major iron ore sources and within approximately 450 km of ports including Ennore, New Mangalore and Goa-Mormugao.

A-One Steels also uses solar and wind power through long-term power purchase agreements. Its TMT bars have been certified as green products by CII.

As of November 30, 2024, the company had 1,921 employees, including 1,099 permanent and 822 contractual employees.

Major Products

• Sponge Iron: Used as a raw material in steel manufacturing.
• MS Billets: Used for producing bars, rods and structural steel products.
• TMT Bars: Used in construction and infrastructure.
• HR Coils: Used in pipes, tubes, automotive frames and industrial equipment.
• CR Coils: Used in automotive panels, appliances and products requiring a smooth surface finish.
• Ferrosilicon: Used as an alloying material in steel production.
• Met Coke: Used as an industrial fuel and reducing agent in steel manufacturing.

A-One Steels IPO Objectives

The company proposes to use the net proceeds from the fresh issue primarily for debt repayment and general corporate purposes.

The largest identified use of proceeds is the repayment or pre-payment of certain outstanding borrowings, which could reduce the company's debt burden following the issue.

A-One Steels Financial Performance

Restated Consolidated Financials (₹ crore)
 

A-One Steels reported a significant improvement in profitability in FY26. Total income increased from ₹3,569.63 crore in FY25 to ₹4,202.05 crore in FY26, while PAT increased sharply from ₹7.71 crore to ₹127.41 crore.
The company reported 18% revenue growth and a 1,552% increase in PAT between FY25 and FY26.

A-One Steels Key Financial Ratios

The improvement in FY26 profitability is reflected in the company's ROE, ROCE and margins. PAT margin increased to 3.04% from 0.34%, while EBITDA margin improved to 7.29%.

A-One Steels IPO Valuation

At the upper price band, the supplied valuation indicates a post-IPO P/E of 24.55x.
The promoter holding is expected to decline from 85.86% to 74.52% after the issue, according to the supplied valuation data.

A-One Steels Promoter Holding

The promoters of A-One Steels India Limited are:

• Sandeep Kumar
• Sunil Jallan
• Krishnan Kumar Jalan

As per the supplied IPO data, promoter holding is 85.86% before the IPO and 74.52% after the IPO.

A-One Steels Peer Comparison

The supplied peer data shows A-One Steels with a RoNW of 15.43%, compared with 10.10% for Shyam Metallics and Energy. Its final valuation can be assessed alongside the operating performance and capital structure of these companies.

A-One Steels Competitive Strengths

• A-One Steels has a backward-integrated manufacturing model covering multiple stages of steel production. Its location near raw material sources and ports can support logistics efficiency.
• The company also has a diversified product portfolio serving construction, infrastructure, power plants, bridges, highways, marine structures, industrial buildings and residential construction.
• Its green-energy initiatives and CII-certified green TMT products are another part of its operating profile.

Risks Investors Should Consider

• Steel prices and margins can be cyclical.
• The business requires significant working capital and capital expenditure.
• Total borrowings stood at ₹1,010.94 crore in FY26.
• Profitability has historically fluctuated significantly, with PAT falling from ₹38.91 crore in FY24 to ₹7.71 crore in FY25 before rising sharply in FY26.
• The company operates in a competitive steel industry.
• Raw material, power and fuel costs can affect margins.
• Demand is linked to construction, infrastructure and industrial activity.

The IPO valuation should be considered alongside the company's earnings consistency and debt position.

A-One Steels IPO Analysis

A-One Steels combines backward integration, diversified steel products, strategic manufacturing locations and exposure to construction and infrastructure demand. FY26 showed a substantial improvement in revenue, EBITDA and PAT compared with FY25.

At the same time, the company's earnings history has been uneven, and total borrowing stood at ₹1,010.94 crore in FY26. The proposed use of ₹250 crore from the IPO proceeds for repayment or pre-payment of borrowings is therefore an important part of the issue structure.

The valuation table indicates a post-IPO P/E of 24.55x. Investors evaluating the IPO can therefore focus on the sustainability of FY26 earnings, steel-cycle conditions, debt reduction and the company's ability to maintain margins.

A-One Steels IPO Allotment Status

The tentative basis of allotment date is September 29, 2026.

Refunds are expected to begin on September 30, 2026, while shares are scheduled to be credited to demat accounts on the same day.

Investors can check the allotment status through the IPO registrar, Bigshare Services Pvt. Ltd., using their application number, PAN or other required details.

A-One Steels IPO Registrar

• Bigshare Services Pvt. Ltd.
• Address: Ahura Centre, Pinnacle Business Park,
  Mahakali Caves Road, Shanti Nagar,
  Andheri East, Mumbai
• Phone: 8657578989 / 8069219065 / 8069219060
• Email: ipo@bigshareonline.com

A-One Steels IPO Lead Managers

The book-running lead managers for the A-One Steels IPO are:

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

A-One Steels Company Details

• Company: A-One Steels India Ltd.
• Registered Office: A-One House, No. 326, CQAL Layout, Ward No. 08, Sahakarnagar, Bangalore Urban, Karnataka – 560092
• Website: aonesteelgroup.com
• Phone: 080-45646000
• Email: legal@aonesteelgroup.com

A-One Steels IPO Summary

A-One Steels IPO is a ₹405 crore mainboard issue opening from September 24 to September 28, 2026. The issue includes a ₹355 crore fresh issue and ₹50 crore OFS, with a price band of ₹385–₹405 per share and a retail lot size of 37 shares. At the upper band, one retail lot requires ₹14,985. The latest reported GMP is ₹0, indicating an estimated listing price of ₹405 based on the current grey-market premium. A-One Steels reported FY26 total income of ₹4,202.05 crore and PAT of ₹127.41 crore, compared with PAT of ₹7.71 crore in FY25. The company plans to use ₹250 crore of IPO proceeds toward repayment or pre-payment of borrowings, with the remaining proceeds for general corporate purposes. The shares are scheduled to list on BSE and NSE on October 1, 2026.

A-One Steels IPO FAQs

When will A-One Steels IPO open?

The IPO will open on September 24, 2026.

When will A-One Steels IPO close?

The IPO will close on September 28, 2026.

What is the A-One Steels IPO price band?

The price band is ₹385 to ₹405 per share.

What is the A-One Steels IPO lot size?

The minimum lot size is 37 shares.

What is the minimum investment for A-One Steels IPO?

At the upper price band of ₹405, one lot requires ₹14,985.

What is the latest A-One Steels IPO GMP?

As of September 17, 2026, the latest supplied GMP is ₹0. With the upper price band at ₹405, the indicative listing price based on the current GMP is ₹405.

What is the A-One Steels IPO issue size?

The total issue size is ₹405 crore, comprising ₹355 crore fresh issue and ₹50 crore OFS.

How much of the IPO proceeds will be used for debt repayment?

The company proposes to use ₹250 crore toward pre-payment or partial repayment of certain outstanding borrowings.

When will A-One Steels IPO allotment be completed?

The tentative basis of allotment date is September 29, 2026.

When will A-One Steels shares be listed?

The shares are scheduled to list on October 1, 2026, on BSE and NSE.

Who is the registrar of A-One Steels IPO?

Bigshare Services Pvt. Ltd. is the IPO registrar.

Disclaimer

This article is for informational and educational purposes only and should not be considered investment advice or a recommendation to buy or subscribe to the A-One Steels IPO. IPO dates, financial information, valuation and other issue details may change. GMP is unofficial, unregulated and highly volatile and should not be considered a guaranteed listing gain. Investors should read the company's RHP/prospectus carefully, evaluate the financials, valuation and risk factors, and consult a SEBI-registered investment adviser before making investment decisions.

Author: Komal Bhatt

Komal Bhatt is a finance content writer at InvestKraft, specialising in well-researched articles on financial products, stock markets, and investment opportunities, with a particular focus on unlisted shares.

She holds a Master’s degree in Commerce from the University of Delhi, which gives her a solid academic foundation in finance and business. With over three years of hands-on experience in creating digital finance content, Komal has developed a clear understanding of investor needs through her work on wealth management, NISM certification programs, and market education materials.

Komal is passionate when it comes to breaking down complex financial concepts into simple, accurate and actionable insights. Her goal is to help everyday investors understand markets better and make more informed decisions based on reliable, research-backed information.