A-One Steels
A-One Steels India Ltd. is a leading steel manufacturer established in 2012, offering long and flat steel products, industrial products, and conversion of HR/CR coils and TMT bars.
Price Band
₹405
Lot Size
37 Shares
Issue Size
₹405.00 Cr
Fresh Issue
₹355.00 Cr
OFS
₹50.00 Cr
Registrar
AI Sentiment Score
Listing Price
₹455.00
vs Issue: ₹405 (+12.35%)
📅 IPO Timeline
✓
Open
Sep 24, 2026
✓
Close
Sep 28, 2026
✓
Allotment
Sep 29, 2026
✓
Refund
Sep 30, 2026
✓
Demat
Sep 30, 2026
✓
Listing
Oct 1, 2026
📈 Grey Market Premium (GMP) Trendline
Daily consensus GMP movement (₹) recorded across market sources
✨ AI Analysis & Prediction
🔒 Final Reconciled Estimate
Locked post-listing with actual debut performance
A-One Steels displays an established operational footprint with expanding revenue streams (9.5% CAGR) and a defensible value proposition.
💪 Strengths
- Demonstrated operational revenue trajectory with resilient top-line growth (9.5% CAGR).
- Established customer relationships and market position across target industry sectors.
- Sound operational capital returns with Return on Capital Employed (ROCE) at 11.5%.
⚠️ Weaknesses
- Exposure to input cost fluctuations and broader macroeconomic supply chain cycles.
- Working capital requirements to support continuous capacity expansion.
- Competitive landscape from both established incumbents and specialized regional players.
🚀 Opportunities
- Industry tailwinds from rising domestic capex and infrastructure spending.
- Operating leverage potential allowing margin expansion as manufacturing utilization rises.
- Geographic diversification and entry into higher-margin specialized product lines.
🛡️ Threats
- Sectoral regulatory shifts and evolving statutory compliance requirements.
- Aggressive pricing actions by domestic competitors impacting gross margins.
- Broader market equity volatility and liquidity fluctuations.
🎯 Objectives of the IPO
| Requirement / Purpose | Amount (₹ Cr) |
|---|---|
| Investment in the Indian Subsidiary, Vanya Steels Pvt.Ltd. for purchase of equipment /machineries and civil works for expansion of facility | ₹344.37 |
| Equity Investment in Indian Subsidiary of the company, Vanya Steels Pvt.Ltd. for investment in Group Captive power for procurement of Solar energy | ₹40.00 |
| Pre-payment or partial re-payment of a portion of certain outstanding borrowings availed by the Company | ₹100.00 |
| General Corporate Purposes | TBD |
📊 Financial Overview & Growth Trajectory
Multi-year operational scale & net profitability trajectory
| Metric | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue (₹ Cr) | Rs 3,164.00 Cr | Rs 3,834.00 Cr | Rs 3,542.00 Cr | Rs 4,149.00 Cr |
| Net Profit / PAT (₹ Cr) | Rs 98.00 Cr | Rs 38.00 Cr | Rs 11.00 Cr | Rs 128.00 Cr |
| EBITDA / Op. Profit (₹ Cr) | Rs 220.00 Cr | Rs 171.00 Cr | Rs 161.00 Cr | Rs 219.00 Cr |
| Borrowings (₹ Cr) | Rs 1,241.00 Cr | Rs 1,043.00 Cr | Rs 1,010.00 Cr | Rs 1,052.00 Cr |
| Total Assets (₹ Cr) | Rs 1,974.00 Cr | Rs 2,395.00 Cr | Rs 2,753.00 Cr | Rs 3,190.00 Cr |
| ROE % | 0.00% | 0.00% | 0.00% | 0.00% |
| ROCE % | 11.50% | 11.50% | 11.50% | 11.50% |
| Debt / Equity | 0.00 | 0.00 | 0.00 | 0.00 |
Company P/E
61.7x
Industry P/E
71.0x
Debt/Equity
1.25
⚖️ Valuation Benchmark Range
🟢 Attractively Priced vs Industry Peers
Industry 71.0x
IPO 61.7x
0x (Deep Value)
96x (High Multiple)
📋 Live Subscription Status
QIB
7.69x
NII
25.03x
Retail
9.11x
Total
12.23x
🎯 Retail Allotment Probability
11% Odds
1 in 9.1 chance (~11% probability per PAN)
SEBI Rule: Under SEBI lottery allotment rules, applying for multiple lots under Retail does NOT increase your lottery odds. All valid retail applicants have identical 1-lot odds per PAN.
Updated: Oct 2, 2026 8:03 AM
💼 Issue Structure & Reservation Quota
Capital Structure
₹405.0 Cr
Issue Size
Fresh (87.7%)
OFS (12.3%)
Reservation Quota
100%
Allocation
QIB (50%)
NII (15%)
Retail (35%)
QIB
50.00%
Retail
35.00%
NII
15.00%
📈 Shareholding & Anchor Lock-In
🔗 Important Links & Lead Managers
- Check Allotment StatusCheck Now →
- Registrar WebsiteVisit →
- Download DRHP ProspectusDownload PDF 📥
- Download RHP ProspectusDownload PDF 📥
Lead Managers / Merchant Bankers
This issue is managed by Hem Securities Ltd., and Share India Capital Services Pvt. Ltd.
Disclaimer: The information provided on this page is for educational and informational purposes only and does not constitute financial advice. IPO investments are subject to market risks. AI-generated analysis is based on publicly available data and may not be accurate. Grey Market Premium (GMP) is unofficial and highly speculative. Always consult a qualified financial advisor and read the DRHP/RHP carefully before making investment decisions.
Operating 6 manufacturing facilities across Karnataka and Andhra Pradesh, the company specializes in both long and finished steel products catering to various critical infrastructure and construction sectors.
The mainboard IPO aims to raise approximately ₹405 crores, comprising a fresh issue of ₹355 crores and an offer for sale, priced at ₹385 to ₹405 per share with favorable subscription metrics.