Ahead of the listing, the IPO was trading at a grey market premium (GMP) of ₹47, or around 11.6% over the upper end of the price band.
The IPO was open for subscription from September 24 to September 28, 2026, and was subscribed 12.23 times overall. The retail portion was subscribed 9.11 times, while the qualified institutional buyers (QIB) category, excluding the anchor portion, saw 7.69 times subscription. The non-institutional investor (NII) portion was subscribed 25.80 times.
The IPO had a price band of ₹385-₹405 per share, with a lot size of 37 shares. At the upper end of the price band, retail investors were required to invest a minimum of ₹14,985 for one lot.
A-One Steels India plans to use the net proceeds primarily to prepay or partially repay certain outstanding borrowings, with ₹250 crore earmarked for the purpose. The remaining proceeds will be used for general corporate purposes, subject to applicable laws and regulations.
Incorporated in 2012, A-One Steels India is a backward-integrated steel manufacturer with a portfolio spanning long and flat steel products, as well as industrial products such as met coke, silicon manganese and ferrosilicon.
Its product portfolio includes sponge iron, mild steel (MS) billets, thermo-mechanically treated (TMT) bars, hot-rolled and cold-rolled (HR/CR) coils, HR/CR pipes and galvanised tubes. The company caters to sectors including construction, infrastructure, automotive and power.A-One Steels operates six manufacturing facilities across Karnataka and Andhra Pradesh. The plants are located close to iron ore sources and major ports, supporting raw material procurement and transportation.
The company reported an 18% year-on-year increase in total income to ₹4,202 crore in FY26 from ₹3,570 crore in FY25. Profit after tax (PAT) rose sharply by 1,552% to ₹127 crore in FY26 from ₹8 crore in FY25.