A-One Steels IPO
Bidding opens on 24 September 2026, in 9 days, and closes on 28 September 2026.
Subscription and grey market figures refresh on a 30-minute cycle. Last synced 15 September 2026. They are not a live tick-by-tick feed, so a bidding day can move between refreshes. Confirm current numbers on the exchange websites before you apply.
- Issue size
- ₹405.00 Cr
- Lot size
- Not announced
- Minimum investment
- Not announced
- Face value
- ₹10.00
- Fresh issue
- ₹355.00 Cr
- Offer for sale
- ₹50.00 Cr
- Exchanges
- NSE and BSE
- Bidding dates
- 24 September 2026 to 28 September 2026
The dates that matter
An Indian IPO runs on a fixed calendar. Bidding stays open for three working days, the allotment is finalised the next working day, and the shares begin trading the day after that.
Anchor investor biddingNext
23 September 2026 in 8 days
One day before the public window, for institutional anchors.
Bidding opens
24 September 2026
Bidding closes
28 September 2026
Basis of allotment
29 September 2026
Refunds initiated
30 September 2026
Shares credited to Demat
30 September 2026
Listing on the exchange
1 October 2026
Issue dates
Grey market premium
No premium was quoted for this issue on any of the 4 days we hold a record for. A blank record is not a premium of zero, and it says nothing about demand either way.
About A-One Steels
A-One Steels India Ltd. makes steel at six plants: five in Karnataka (Gauribidanur, Bellary, Koppal, Chikkantapur) and one in Hindupur, Andhra Pradesh. The company runs a backward-integrated process, making sponge iron and MS billets at its Koppal and Bellary plants, then rolling those billets into long and flat products. It sells TMT bars, HR and CR coils, HR and CR pipes, galvanized tubes, met coke, and silicon manganese and ferrosilicon. Ferrosilicon is used in steelmaking for alloying. Construction, infrastructure, power, and transport projects use the output. The company had 1,921 employees as of 30 November 2024, of whom 822 work on contract. It buys solar and wind power under 15 to 25 year agreements.
Promoters
- Sandeep Kumar
- Sunil Jallan
- Krishnan Kumar Jalan
Financial highlights
The last three fiscal years as the offer document states them. Reading across a row shows whether the figure has grown, which is why the years run left to right.
| Metric (₹ crore) | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Assets | 2,395.87 | 2,753.06 | 3,191.31 |
| Total Income | 3,862.44 | 3,569.63 | 4,202.05 |
| Profit After Tax | 38.91 | 7.71 | 127.41 |
| EBITDA | 172.19 | 174.06 | 303.64 |
| NET Worth | 421.79 | 676.63 | 819.52 |
| Total Borrowing | 1,042.53 | 963.67 | 1,010.94 |
Figures are in ₹ crore and reproduced from the offer document, covering Mar 2024 to Mar 2026. A dash means the document does not state that figure for that period. A fiscal year ending March is labelled by its closing month, and where the document states a figure on a different basis the label here follows the document rather than normalising it.
Key ratios
Valuation and return ratios calculated from the issuer's financials. These are the figures the issue price is usually judged against, and the offer document carries the working behind each one.
| Ratio | Value | What it measures |
|---|---|---|
| Earnings per share | ₹18.61 | Profit after tax divided by the number of shares. |
| Return on equity | 1.69% | Profit earned on shareholders’ money. |
| Return on capital employed | 7.03% | Profit earned on all the capital in the business, including debt. |
| Return on net worth | 1.25% | The offer document’s own name for return on shareholders’ funds. |
| Debt to equity | 1.34x | Borrowings against shareholders’ funds. Higher means more leverage. |
| Profit margin | 0.34% | Profit after tax as a share of income. |
| Operating margin | 4.91% | Operating profit as a share of income, before interest, tax and depreciation. |
Ratios are stated as published. A ratio that is absent here was not stated in the document, and is not the same as a ratio of zero.
What the money is for
Every issue states its objects in the offer document. These are reproduced from it, largest first, so you can see where most of the raise is going.
Pre-payment or partial re-payment of a portion of certain outstanding borrowings availed by the Company
₹250.00 Cr
General Corporate Purposes
Amount not stated
Peer comparison
The offer document compares the issuer against listed companies in the same business, on earnings, book value and return on net worth. A-One Steels is the first row.
| Company | EPS (₹) | P/E | NAV per share (₹) | RoNW |
|---|---|---|---|---|
| A-One Steels IndiaThis issue | 18.47 | — | ₹119.93 | 15.43% |
| Jai Balaji Industries | 1.42 | 45.76 | ₹24.75 | — |
| MSP Steel and Power | 0.6 | 61.52 | ₹18.18 | — |
| Shyam Metallics and Energy | 38.1 | 28.31 | ₹412.81 | 10.10% |
Reproduced from the peer comparison in the offer document. A dash means the document does not state that figure for that company. It is absent, not zero. Ratios are reported on the basis named in the document, which is not always the same period for every company.
Questions people ask
Bidding runs from 24 September 2026 to 28 September 2026. Applications can be revised or withdrawn while bidding is open. Once it closes, the registrar finalises the basis of allotment the next working day and shares are credited the day after.
The most recent recorded premium is ₹0.00 per share, against ₹0.00 when recording began on 12 September 2026. The movement across those days says more than either number on its own.
Sources
- National Stock Exchange of India. "Upcoming and current public issues, with live bid quantities." The exchange publishes the bidding figures this page is built from, and is the authority on them. Accessed 15 September 2026.
- BSE. "Public issues — current and forthcoming." The second exchange carrying this issue, and the second source for its bidding data. Accessed 15 September 2026.
- Securities and Exchange Board of India. "Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018." The regulation that sets the issue process, the categories and the allotment rules. Accessed 15 September 2026.
- A-One Steels issue particulars are compiled and published by DematOpen, refreshed every 30 minutes, and reviewed by the editorial team. The record was last updated 15 September 2026. The offer document and the registrar above are the primary sources for anything you intend to act on.