A-One Steels India IPO Profile
A-One Steels India Limited is a backward-integrated steel manufacturer based in Southern India. The company manufactures and sells a diversified range of steel and industrial products including sponge iron, MS billets, TMT bars, HR and CR coils, pipes, galvanized tubes, met coke and ferro alloys.
The company operates multiple manufacturing facilities across Karnataka and Andhra Pradesh and follows an integrated manufacturing model covering various stages of the steel value chain.
A-One Steels India IPO Details
| IPO Name | A-One Steels India IPO |
|---|---|
| IPO Type | Mainboard IPO |
| Issue Type | Book Building |
| IPO Open Date | 24 September 2026 |
| IPO Close Date | 28 September 2026 |
| Price Band | ₹385 – ₹405 per Equity Share |
| Face Value | ₹10 per Equity Share |
| Lot Size | 37 Shares |
| Minimum Investment | ₹14,985 |
| Issue Size | ₹405 Crore |
| Fresh Issue | ₹355 Crore |
| Offer for Sale | ₹50 Crore |
| Listing | BSE & NSE |
| Allotment Date | 29 September 2026 |
| Refund Date | 30 September 2026 |
| Credit of Shares | 30 September 2026 |
| Listing Date | 1 October 2026 |
A-One Steels India Company Profile
A-One Steels India Limited was incorporated in 2012 and has developed into an integrated steel manufacturing company with operations in Southern India. The company has a diversified product portfolio covering both long and flat steel products along with industrial products used in steel manufacturing.
Its manufacturing activities include sponge iron, MS billets, TMT bars, hot rolled and cold rolled coils, MS pipes, galvanized pipes and tubes, met coke and ferro alloys. The company also has manufacturing and processing capabilities across different stages of steel production.
As of 31 March 2026, the company had an aggregate installed capacity of approximately 17.33 lakh MTPA across six manufacturing facilities in Karnataka and Andhra Pradesh.
Objects of A-One Steels India IPO
The company proposes to use the IPO proceeds primarily for:
- Pre-payment or partial repayment of certain outstanding borrowings.
- General corporate purposes.
According to the issue details, around ₹250 crore from the issue is proposed towards repayment or partial repayment of certain borrowings.
A-One Steels India IPO Financials
The following table provides selected consolidated financial information for the company.
| Particulars (₹ Crore) | FY 2024 | FY 2025 | FY 2026 |
|---|---|---|---|
| Total Revenue | 3,862.44 | 3,569.63 | 4,202.05 |
| EBITDA | 172.19 | 174.06 | 303.64 |
| Profit After Tax | 38.91 | 7.71 | 127.41 |
| Net Worth | 421.79 | 676.63 | 819.52 |
The company's FY2026 revenue and profitability improved compared with FY2025. PAT increased to ₹127.41 crore in FY2026 from ₹7.71 crore in FY2025. However, investors should also consider the historical fluctuation in profitability while evaluating the company.
A-One Steels India IPO Strengths
- Backward-integrated operations: The company operates across multiple stages of steel manufacturing, providing greater control over intermediate products.
- Diversified product portfolio: Products include long steel, flat steel and industrial products, reducing dependence on a single product category.
- Strategic Southern India presence: Manufacturing facilities are located across Karnataka and Andhra Pradesh, close to important raw-material and market locations.
- Multiple manufacturing facilities: The company operates six manufacturing facilities with aggregate installed capacity of approximately 17.33 lakh MTPA.
- Improved FY2026 performance: Revenue, EBITDA and PAT increased substantially in FY2026 compared with FY2025.
- Renewable energy arrangements: The company has long-term renewable energy arrangements that can support its energy requirements.
A-One Steels India IPO Risks
- Cyclical steel industry: Steel demand and prices can fluctuate depending on economic activity, infrastructure spending, imports, exports and global steel prices.
- Raw material price risk: Changes in the prices and availability of iron ore, coal, coke, scrap and other inputs can affect margins.
- Profitability volatility: PAT declined from ₹38.91 crore in FY2024 to ₹7.71 crore in FY2025 before recovering to ₹127.41 crore in FY2026.
- High borrowings: The group has significant borrowings, which can increase interest costs and financial risk.
- Competitive market: The company operates in a highly competitive steel industry with several established players.
- Working-capital requirements: Steel manufacturing and distribution require significant working capital for inventory and receivables.
A-One Steels India IPO Allotment Status
A-One Steels India IPO basis of allotment is expected on 29 September 2026. Investors can check their IPO allotment status after the basis of allotment is finalized.
Check A-One Steels IPO Allotment Status