A-One Steels India IPO Offer Price Range at ₹385-₹405; Public Issue to Open on September 24

A-One Steels India has set the price band of ₹385-₹405 per equity share for its ₹405 crore initial public offering, with the issue opening on September 24. 

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At the top-end of the price band, the southern based steel maker will be valued at ₹3,128 crore. 

The bidding window will close on September 28, while the anchor book for institutional investors will open on September 23 ahead of the public issue. 

Share allocation is likely to be completed on September 29 and the company’s stock may list on October 1. 

In the total amount raised of ₹405 crore, ₹355 crore will be raised from the issue of fresh shares and ₹50 crore from the offer for sale by the promoters. 

The minimum bid quantity allowed by the company is 37 shares and in multiple of 37 thereafter. At the top-end of the price range, the minimum amount required for retail bid would be ₹14,985. The maximum retail investment would be ₹1,94,805. 

₹250 crore earmarked for debt reduction 

A sizeable portion of the money raised through the fresh issue will go towards reducing the company’s debt. 

A-One Steels plans to use ₹250 crore from the net fresh issue proceeds for partial repayment of borrowings. The balance will be available for general corporate purposes. 

Its standalone outstanding borrowings stood at ₹864.4 crore as of July 15. 

The company operates in the steel industry alongside listed players such as MSP Steel and Power, Jai Balaji Industries and Shyam Metalics and Energy. 

Profit rises sharply in FY26 

A-One Steels closed the financial year ended March 2026 with a profit of ₹127.4 crore, compared with ₹7.7 crore in the previous year. The increase was supported by government grants, other income and stronger operating performance. 

Revenue grew 17.1% during the year, reaching ₹4,148.6 crore from ₹3,541.8 crore. 

Operating performance also improved. EBITDA rose 74.4% to ₹303.6 crore from ₹174 crore a year earlier, while the EBITDA margin expanded to 7.31% from 4.91%. 

PL Capital Markets and Khambatta Securities are the merchant bankers to the IPO. 

With the price band now in place, the next step comes on September 23 when the anchor book opens, followed by the public subscription window from September 24 to September 28.