A-One Steels India IPO 2026: Date, Price Band, GMP and Details
Dates, price band, lot size, financials and full details of the A-One Steels India Limited IPO, sourced from the company's Red Herring Prospectus (RHP).
A-One Steels India IPO at a glance
| Detail | Value |
| IPO Dates | 24 to 28 Sep 2026 |
| Price Band | ₹385 to ₹405 |
| Issue Size | ₹405 crore |
| Lot Size | 37 shares |
| Minimum Investment | ₹14,985 |
| Listing Date | 1 Oct 2026 |
A-One Steels India Limited is bringing a Book Built Mainboard IPO worth ₹405 crore. It is a mix of a fresh issue of shares worth ₹355 crore and an Offer for Sale (OFS) worth ₹50 crore. The IPO is open from 24 September to 28 September 2026 and is proposed to list on the BSE and the NSE.
A-One Steels India IPO Details
| Particulars | Details |
| IPO Type | Book Built Mainboard IPO |
| Total Issue Size | ₹405 crore (approximately 1,00,00,000 shares) |
| Fresh Issue | ₹355 crore (87,65,432 shares) |
| Offer for Sale (OFS) | ₹50 crore (12,34,567 shares by the promoters) |
| Price Band | ₹385 to ₹405 per share |
| Face Value | ₹10 per share |
| Lot Size | 37 shares |
| Minimum Retail Investment | ₹14,985 (1 lot, at upper price band) |
| Listing On | BSE and NSE |
| Lead Managers | PL Capital Markets, Khambatta Securities |
| Registrar | Bigshare Services |
A-One Steels India IPO Timelines
| Event | Date |
| IPO Opens | 24 September 2026 |
| IPO Closes | 28 September 2026 |
| Allotment | 29 September 2026 |
| Refund Initiation | 30 September 2026 |
| Credit of Shares to Demat | 30 September 2026 |
| Listing Date | 1 October 2026 |
Dates are tentative and may change.
A-One Steels India IPO GMP
GMP stands for Grey Market Premium. It is the extra amount some traders are willing to pay for IPO shares in an informal market before listing, on top of the issue price. This market runs outside the stock exchanges, so the figure is unregulated, unverified, and can move sharply within a single day. A high GMP does not confirm a listing gain, and a low one does not rule it out, because it tracks short-term sentiment rather than the worth of the business. A steadier read on the IPO comes from the company's financials, how it plans to use the money, its valuation, and the risk factors set out in the Red Herring Prospectus (RHP).
About A-One Steels India Limited
Incorporated in April 2012 (originally as A-One Steel and Alloys Private Limited), A-One Steels India Limited is a backward-integrated steel products manufacturer based in Bengaluru, Karnataka, with manufacturing operations across Karnataka and Andhra Pradesh in southern India. It manufactures a range of intermediate, finished steel, and industrial products, and is vertically integrated across the value chain, from raw material processing to downstream steel products.
As of 31 March 2026, its aggregate installed capacity across its manufacturing facilities was 17,33,100 MTPA (metric tonnes per annum), including a crude steel capacity of 5,70,000 MTPA. It also uses green energy for part of its steel manufacturing and has a certified green product portfolio. As of 30 June 2026, it had 1,377 permanent employees, within a total workforce of 2,459.
The company's promoters are Sandeep Kumar, Sunil Jallan, and Krishan Kumar Jalan.
What are the Key Strengths of A-One Steels India (as stated in the RHP)
- Backward-integrated steel products manufacturer in southern India, with a diversified product portfolio.
- Business operations that capitalise on a strategic location advantage.
- Diversified sales channels and customer base.
- Well-positioned in an industry with high entry barriers, with access to cost-efficient inputs.
- Brand presence supported by product quality, diversified offerings, and targeted marketing initiatives.
- Use of green energy for the manufacture of steel products, with a certified green product portfolio.
- Experienced promoters supported by a strong management and execution team.
What the Money Will Be Used For
The IPO is a fresh issue of ₹355 crore and an Offer for Sale (OFS) of ₹50 crore. The OFS money goes to the promoter selling shareholders. The company will use the money from the fresh issue for the following:
| Object of the Issue | Amount |
| Pre-payment or partial repayment of certain outstanding borrowings | ₹250 crore |
| General corporate purposes | Balance amount |
What are the Company Financials of A-One Steels India
Restated consolidated figures, in ₹ crore.
| Particulars | FY 2026 | FY 2025 | FY 2024 | 2-Yr CAGR |
| Total Income | 4,202.05 | 3,569.63 | 3,862.44 | 4.30% |
| Profit After Tax (PAT) | 127.41 | 7.71 | 38.91 | 80.95% |
| EBITDA | 303.64 | 174.06 | 172.19 | 32.79% |
| Net Worth | 819.52 | 676.63 | 421.79 | 39.39% |
| Total Borrowing | 1,010.94 | 963.67 | 1,042.53 | -1.53% |
2-Yr CAGR is calculated from FY 2024 to FY 2026. Both revenue and profit swung from year to year, reflecting the cyclical nature of the steel industry. Profit dipped sharply in FY 2025 (₹7.71 crore) and rose in FY 2026 (₹127.41 crore), so the profit growth rate is not a like-for-like measure. The RHP notes the company may not be able to sustain the improved margins recorded in FY 2026.
Who Can Apply
The offer is split across investor categories as follows:
| Category | Share of the Net Offer |
| Qualified Institutional Buyers (QIB) | Not more than 50% |
| Non-Institutional Investors (NII) | Not less than 15% |
| Retail Individual Investors (RII) | Not less than 35% |
A portion is also reserved for eligible employees.
How to Apply for the A-One Steels India IPO
You can apply online through your broker app or through your bank's net banking using the Application Supported by Blocked Amount (ASBA) facility.
- Log in to your broker app or your bank's net banking.
- Open the IPO section and select A-One Steels India IPO.
- Enter the number of lots and your bid price, or select the cut-off price.
- Enter your Unified Payments Interface (UPI) ID, or confirm your bank account for the ASBA route.
- Submit the application form.
- Approve the mandate request in your UPI app to block the funds until allotment.
How to Check Allotment Status
The basis of allotment is expected to be finalised on 29 September 2026. Once it is out, you can check your allotment status in three ways. You will need your PAN, application number, or DP/Client ID.
- On the registrar's website, Bigshare Services, at the IPO status page.
- On the BSE or NSE website under the IPO allotment section.
- Inside your broker app, under orders or IPO history.
Key Risk Factors
The RHP lists several risk factors. A few of the key ones are summarised below. Please read the full RHP for the complete list.
- Its profitability and margins have fluctuated in the past, and it may not be able to sustain the improvement in profitability and margins recorded in FY 2026.
- The demand and pricing in the steel industry is volatile and sensitive to the cyclical nature of the industries it serves.
- More than 50% of its revenue from operations has historically been concentrated in the state of Karnataka.
- All of its existing manufacturing facilities are concentrated in two regions (Karnataka and Andhra Pradesh).
- Its business depends on the performance of the key industries in which its customers operate.
- It is dependent on certain key customers.
- Trade receivables and inventories form a substantial part of its current assets.
- It owns its plant and machinery, resulting in increased fixed costs.
- It is highly dependent on its promoters, key managerial personnel, and senior management.
- Its operations are subject to environmental and worker health and safety laws.
Frequently Asked Questions (FAQs)
1. When does the A-One Steels India IPO open and close?
The IPO opens on 24 September 2026 and closes on 28 September 2026.
2. What is the price band of the IPO?
The price band is ₹385 to ₹405 per share.
3. What is the lot size?
One lot is 37 shares. Applications are made in multiples of 37 shares.
4. What is the minimum investment for retail investors?
The minimum investment is ₹14,985 at the upper price band (1 lot of 37 shares).
5. When is the allotment date?
The allotment is expected to be finalised on 29 September 2026, with shares credited to demat accounts by 30 September 2026.
6. When is the listing date?
The shares are proposed to be listed on the BSE and the NSE on 1 October 2026 (tentative).
7. What does A-One Steels India do?
It is a backward-integrated steel products manufacturer in southern India, making intermediate, finished steel, and industrial products across facilities in Karnataka and Andhra Pradesh.
8. What is the GMP of the A-One Steels India IPO?
GMP, or Grey Market Premium, is an informal pre-listing price that sits outside the stock exchanges and is neither regulated nor verified. It shifts with day-to-day sentiment and does not confirm how the shares will list. A more reliable picture comes from the company's financials, valuation, and the risks in the RHP.
9. Who is the registrar for the IPO?
Bigshare Services is the registrar. Allotment status can be checked on its website.
Read the full Red Herring Prospectus (RHP): View the full RHP filed with SEBI and the exchanges.
Disclaimer: This page is for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any securities. All figures are sourced from the company's Red Herring Prospectus and public filings and may change. Investments in securities are subject to market risks. Please read all offer documents carefully and consult a registered financial advisor before making any investment decision.