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A-One Steels IPO
Price Band
₹385.0–405.0
Issue Size
₹405.0 Cr
Lot Size
37 shares
Min Investment
₹14,985
GMP
+₹56.0 (13.83%)
Issue Price
₹405.0
Subject to Sauda
₹1600
Paid only if allotted
A-One Steels IPO AI Summary
- A-One Steels IPO is open now on BSE, NSE in the Iron & Steel Products sector.
- Price band: ₹385.0–₹405.0 per share, lot size 37 shares (min. investment ₹14,985).
- Subscription window: 24 Sep–28 Sep 2026, listing on 01 Oct 2026.
- Current GMP is +₹56.0 (13.83%), an estimated listing price of ₹461 — unofficial and can change daily.
A-One Steels India Limited is a backward-integrated steel manufacturer with a diverse product range and a strong focus on sustainability. The company is set to raise ₹405 Cr through its IPO, with a strong subscription response from various investor categories. With a solid operational foundation and strategic advantages, A-One Steels presents a noteworthy opportunity in the iron and steel sector.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
A-One Steels IPO — Third-Party Research Views
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
LIVE · updates every 5 minOverall Subscription
1.43x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
0.10x
|
0.10x |
| NII (HNI) |
2.18x
|
2.18x |
| ↳ bNII (>₹10L) |
1.94x
|
1.94x |
| ↳ sNII (<₹10L) |
2.65x
|
2.65x |
| Retail (RII) |
1.87x
|
1.87x |
| Employee |
1.68x
|
1.68x |
| Total | 1.43x | 1.43x |
Auto-updated every 5 min · As of 25th Sep 2026 17:08
A-One Steels IPO Grey Market Premium (GMP) Today
GMP
+₹56.0
GMP %
+13.83%
Est. Listing
₹461.0
Updated: 28 Sep 2026 02:00
GMP Trend (Last 15 Days)
TopFund Score — Listing Data Indicator
GMP is 13.8% above issue price
QIB subscribed 0.1x
No anchor allocation for this IPO
Similar IPOs (same sector & type) averaged 34.3% listing gain
A rules-based composite of GMP, subscription demand, anchor participation and comparable-IPO history — each weighted as shown above. Not a statistically validated probability, a guarantee of listing performance, or personalized investment advice.
Limitations: weights are fixed by TopFund, not backtested against outcomes; the "Historical Similar-IPO Performance" factor needs at least 3 comparable past listings and falls back to a broader, less specific cohort when this sector/type doesn't have enough; GMP and subscription data can change daily right up to listing day, so scores shown may already be stale — check the "as of" date above.
About the Company
Incorporated in 2012, A-one Steels India Limited is a backward-integrated steel manufacturer with a diversified product portfolio, offering both long and flat steel products, as well as industrial products used in steel manufacturing. The company manufactures HR and CR coils from MS billets, which are then converted into HR pipes, CR pipes, and galvanized tubes. It also produces TMT bars from MS billets in long steel products. The company also manufactures industrial products like met coke and silicon manganese/ferrosilicon, which are sold in the open market. Ferrosilicon is essential in the steel industry for alloying. The company sources significant green energy compared to peers (Source: CRISIL Report). Its TMT bars, certified as green products by CII, are produced in various sizes at the Gauribidanur and Hindupur plants. The company relies on a steady power and fuel supply, with power purchase agreements for solar and wind energy (15 to 25 years) to support its manufacturing facilities in Karnataka and Andhra Pradesh. The company has six manufacturing facilities: five in Karnataka (Gauribidanur, Bellary, Koppal, Chikkantapur) and one in Hindupur, Andhra Pradesh. The company's manufacturing facilities are located near major iron ore sources, within 450 km of ports like Ennore, New Mangalore, and Goa-Mormugao, allowing cost-effective product transportation. The company products are used in various industries, including construction, infrastructure, power plants, dams, airports, bridges, flyovers, stadiums, highways, marine structures, industrial buildings, and high-rise residential constructions. The company manufactures sponge iron at its Koppal facility (Vanya Steels) and Bellary Plant. It is setting up a 10 MW power plant with waste heat recovery on 39.29 acres of land. Products: Sponge iron: Primarily used in steel manufacturing as a raw material for the production of steel billets and other steel products. MS billet: Used as raw material for rolling into bars, rods, and other structural steel products. TMT: Construction and infrastructure for reinforcement in concrete structures. HR coil: Manufacturing of pipes, tubes, automotive frames, and various industrial equipment. CR coil: Used in precision instruments, automotive panels, appliances, and other finished goods requiring a smooth surface finish. As of November 30, 2024, the company had 1,921 employees, including 1,099 permanent and 822 contractual. The sales and marketing team had 59 employees. Competitive Strengths: One of the largest backward integrated steel products manufacturers in southern India with a wide product portfolio. Business operations capitalizing on the strategic location advantage. Widespread, well-connected distribution network with a presence across multiple channels. Well-positioned in an industry with high entry barriers to benefit from favorable trends; command in the pricing of products with the ability to control the cost of manufacturing. Strong brand recall driven by high quality, innovative, and wide range of products. Leading company in the use of green energy for manufacture of steel products.
Company Financials (₹ Cr)
As of 2026-03-31
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 3,191.31 | 2,753.06 | 2,395.87 |
| Total Income | 4,202.05 | 3,569.63 | 3,862.44 |
| Profit After Tax | 127.41 | 7.71 | 38.91 |
| EBITDA | 303.64 | 174.06 | 172.19 |
| NET Worth | 819.52 | 676.63 | 421.79 |
| Total Borrowing | 1,010.94 | 963.67 | 1,042.53 |
Key Ratios
EPS
₹18.61
ROE
1.69%
ROCE
7.03%
RoNW
1.25%
P/E Ratio
21.76
Market Cap
₹3127.84 Cr
PAT Margin
0.34%
Debt/Equity
1.34
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Shyam Metallics and Energy | 412.81 | 10.1% | 28.31 | 38.1 | 37.97 |
| Jai Balaji Industries | 24.75 | — | 45.76 | 1.42 | 1.42 |
| MSP Steel and Power | 18.18 | — | 61.52 | 0.6 | 0.56 |
| A-One Steels India This IPO | 119.93 | 15.43% | — | 18.47 | 18.47 |
Promoters
Sandeep Kumar, Sunil Jallan, Krishnan Kumar Jalan
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Pre-payment or partial re-payment of a portion of certain outstanding borrowings availed by the Company 250.00 2 General Corporate Purposes Total 250.00
IPO Evaluation
Generated 27 Sep 2026Revenue Trend
Total income was ₹3,862.44 Cr for the period ending 31 Mar 2024, increasing to ₹3,569.63 Cr by 31 Mar 2025, and then rising further to ₹4,202.05 Cr by 31 Mar 2026. This shows a growth trend in total income over the periods analyzed.
Profit Trend
Profit After Tax was ₹38.91 Cr for the period ending 31 Mar 2024, which decreased to ₹7.71 Cr by 31 Mar 2025, before rebounding to ₹127.41 Cr by 31 Mar 2026. This indicates a significant recovery in profitability in the most recent period.
Valuation
At the issue price of ₹405, A-One Steels has an implied P/E ratio of approximately 21.76, compared to peers trading at P/E ratios ranging from 28.31 to 61.52.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO in the stock market compared to its issue price. A positive GMP suggests that the IPO may list at a premium, while a negative GMP indicates a potential listing at a discount. GMP is determined by market demand and supply dynamics and can fluctuate until the listing date.
Subscription Demand
As of 25th September 2026, the overall subscription level for the IPO was 1.43 times. The retail category saw a subscription of 1.87 times, while the non-institutional investors (NII) category was subscribed 2.18 times. The qualified institutional buyers (QIB) category had a lower subscription of 0.1 times.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. Factors such as the company's market position, financial health, and growth prospects should be considered.
Who May Want to Wait
Investors with a low-risk appetite or those looking for guaranteed short-term returns may want to avoid investing in IPOs, as they can be subject to market fluctuations and uncertainty.
IPO Timeline, Explained
The IPO opens for subscription on 24th September 2026 and closes on 28th September 2026. Allotment of shares will be finalized on 29th September 2026, with the listing date set for 1st October 2026.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when selling shares on the first day of trading. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and overall demand for the stock. There is always a risk that the stock may not perform well on listing day, leading to losses instead.
This evaluation is generated from A-One Steels's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is A-One Steels IPO GMP today?
A-One Steels IPO GMP today is +₹56.0 (13.83%), indicating an estimated listing price of ₹461. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of A-One Steels IPO?
The price band of A-One Steels IPO is ₹385.0–₹405.0 per share.
When does A-One Steels IPO open and close?
A-One Steels IPO opens on 24 September 2026 and closes on 28 September 2026.
When does A-One Steels IPO list on the stock exchange?
A-One Steels IPO is scheduled to list on 01 October 2026, with an estimated listing price of ₹461.0 based on current GMP.
What is the lot size for A-One Steels IPO?
The lot size for A-One Steels IPO is 37 shares, requiring a minimum investment of ₹14,985.
What is the TopFund Listing Data Indicator for A-One Steels?
A-One Steels's Listing Data Indicator score is 39/100 (Moderate signal), a weighted composite of GMP strength, subscription demand, anchor investor interest and how similar past IPOs performed on listing. It's a rules-based summary of public market data, not a statistically validated probability, a guarantee, or personalized investment advice.
What is the price band for the A-One Steels IPO?
The price band for the A-One Steels IPO is ₹385 to ₹405.
What is the minimum investment amount for this IPO?
The minimum investment amount for this IPO is ₹14,985.
What is the lot size for the A-One Steels IPO?
The lot size for the A-One Steels IPO is 37 shares.
When is the listing date for the A-One Steels IPO?
The listing date for the A-One Steels IPO is 1st October 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of an IPO compared to its issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
24 Sep 2026
Close
28 Sep 2026
Allotment
29 Sep 2026
Listing
01 Oct 2026
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