A-One Steels India IPO Date & Timeline
Tentative schedule from the RHP.
A-One Steels India IPO GMP Today
Unofficial, aggregated from market sources. It never feeds our score.
Full GMP history (30 updates)
| Date & time (IST) | GMP | Change | GMP % | Est. listing |
|---|---|---|---|---|
| Sep 30, 2026 · 2:15 PM | ₹32 | +₹2 | 7.9% | ₹437 |
| Sep 30, 2026 · 7:15 AM | ₹30 | +₹2 | 7.4% | ₹435 |
| Sep 29, 2026 · 8:00 PM | ₹28 | +₹7 | 6.9% | ₹433 |
| Sep 29, 2026 · 4:30 PM | ₹21 | ₹0 | 5.2% | ₹426 |
| Sep 29, 2026 · 12:00 PM | ₹21 | −₹3 | 5.2% | ₹426 |
| Sep 29, 2026 · 8:30 AM | ₹24 | ₹0 | 5.9% | ₹429 |
| Sep 28, 2026 · 9:00 PM | ₹24 | ₹0 | 5.9% | ₹429 |
| Sep 28, 2026 · 5:30 PM | ₹24 | −₹11 | 5.9% | ₹429 |
| Sep 28, 2026 · 12:45 PM | ₹35 | −₹5 | 8.6% | ₹440 |
| Sep 27, 2026 · 11:59 PM | ₹40 | ₹0 | 9.9% | ₹445 |
| Sep 26, 2026 · 11:59 PM | ₹40 | +₹2 | 9.9% | ₹445 |
| Sep 25, 2026 · 6:00 PM | ₹38 | +₹3 | 9.4% | ₹443 |
| Sep 25, 2026 · 12:30 PM | ₹35 | ₹0 | 8.6% | ₹440 |
| Sep 25, 2026 · 9:30 AM | ₹35 | ₹0 | 8.6% | ₹440 |
| Sep 25, 2026 · 7:00 AM | ₹35 | +₹1 | 8.6% | ₹440 |
| Sep 24, 2026 · 7:15 PM | ₹34 | −₹1 | 8.4% | ₹439 |
| Sep 24, 2026 · 3:45 PM | ₹35 | −₹3 | 8.6% | ₹440 |
| Sep 24, 2026 · 9:30 AM | ₹38 | ₹0 | 9.4% | ₹443 |
| Sep 24, 2026 · 6:00 AM | ₹38 | ₹0 | 9.4% | ₹443 |
| Sep 23, 2026 · 8:45 PM | ₹38 | ₹0 | 9.4% | ₹443 |
| Sep 23, 2026 · 2:45 PM | ₹38 | ₹0 | 9.4% | ₹443 |
| Sep 23, 2026 · 11:00 AM | ₹38 | ₹0 | 9.4% | ₹443 |
| Sep 23, 2026 · 6:15 AM | ₹38 | ₹0 | 9.4% | ₹443 |
| Sep 22, 2026 · 6:15 PM | ₹38 | −₹2 | 9.4% | ₹443 |
| Sep 22, 2026 · 3:00 PM | ₹40 | ₹0 | 9.9% | ₹445 |
| Sep 21, 2026 · 9:00 AM | ₹40 | ₹0 | 9.9% | ₹445 |
| Sep 20, 2026 · 11:59 PM | ₹40 | ₹0 | 9.9% | ₹445 |
| Sep 19, 2026 · 11:59 PM | ₹40 | +₹10 | 9.9% | ₹445 |
| Sep 18, 2026 · 11:59 PM | ₹30 | ₹0 | 7.4% | ₹435 |
| Sep 17, 2026 · 11:59 PM | ₹30 | — | 7.4% | ₹435 |
A-One Steels India IPO Subscription Status
From NSE + BSE bid data, excluding the anchor portion.
Day-wise subscription
| Day | QIB | bHNI | sHNI | NII total | Retail | Employee | Total |
|---|---|---|---|---|---|---|---|
| Shares offered | 19,87,592 | 9,94,550 | 4,97,275 | 14,91,825 | 34,80,926 | 54,496 | 70,14,839 |
| Day 1 · Sep 24 | 0.10× | 0.83× | 0.76× | 0.81× | 0.81× | — | 0.61× |
| Day 2 · Sep 25 | 0.10× | 1.94× | 2.65× | 2.18× | 1.86× | — | 1.42× |
| Day 3 · Sep 28 | 7.69× | 26.18× | 25.03× | 25.80× | 9.09× | 5.15× | 12.22× |
A-One Steels India IPO Details
Checked against the RHP and cross-checked on NSE and BSE.
| IPO date | Sep 24 – 28, 2026 |
| Price band | ₹385 – 405 per share |
| Face value | ₹10 per share |
| Lot size | 37 shares |
| Total issue size | 99,99,999 shares ₹405.00 Cr |
| Fresh issue | 87,65,432 shares ₹355.00 Cr |
| Offer for sale | 12,34,567 shares ₹50.00 Cr |
| Issue type | Book Built · Mainboard |
| Listing at | BSE, NSE |
| Market cap | ≈ ₹3,127.84 Cr |
| Lead managers | PL Capital Markets Pvt. Ltd., Khambatta Securities Ltd. |
| Registrar | Bigshare Services Pvt. Ltd. |
Offer documents
A-One Steels India IPO Lot Size
Minimum and maximum bids by investor type at the upper band of ₹405.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 37 | ₹14,985 |
| Retail (max) | 13 | 481 | ₹1,94,805 |
| sHNI (min) | 14 | 518 | ₹2,09,790 |
| sHNI (max) | 66 | 2,442 | ₹9,89,010 |
| bHNI (min) | 67 | 2,479 | ₹10,03,995 |
A-One Steels India IPO Reservation
Shares set aside for each category, and the maximum number of applicants who can get an allotment.
| Category | Shares offered | % of issue | Max. allottees |
|---|---|---|---|
| Anchor investors | 29,85,160 | 29.9% | — |
| QIB (ex-anchor) | 19,87,592 | 19.9% | — |
| NII (HNI) | 14,91,825 | 14.9% | — |
| ↳ bHNI (>₹10L) | 9,94,550 | 9.9% | 1,919 |
| ↳ sHNI (₹2–10L) | 4,97,275 | 5% | 959 |
| Retail | 34,80,926 | 34.8% | 94,079 |
| Employee | 54,496 | 0.5% | — |
| Total | 99,99,999 | 100% |
A-One Steels India Financials (FY24 – FY26)
Restated consolidated figures from the RHP, ₹ crore. Years end March 31. Figures are total income (revenue from operations in FY26: ₹4,148.57 Cr).
Financial statement
| ₹ Cr | FY24 | FY25 | FY26 | YoY |
|---|---|---|---|---|
| Revenue | 3,862.44 | 3,569.63 | 4,202.05 | +17.7% |
| EBITDA | — | — | 303.64 | — |
| Profit after tax | 38.91 | 7.71 | 127.41 | +1552.5% |
| Total assets | 2,395.87 | 2,753.06 | 3,191.31 | +15.9% |
| Net worth | 421.79 | 676.63 | 819.52 | +21.1% |
| Total borrowing | 1,042.53 | 963.67 | 1,010.94 | +4.9% |
A-One Steels India IPO Valuation & Peer Comparison
At the upper band of ₹405. Peers from the RHP "Basis for Offer Price".
Peer comparison
| Company | P/E | P/B | RoNW |
|---|---|---|---|
| A-One Steels India | 24.6× | — | 15.43% |
| Shyam Metallics | 28.3× | — | 10.10% |
| Jai Balaji Industries | 45.7× | — | — |
| MSP Steel & Power | 61.5× | — | — |
About A-One Steels India
Business profile from the RHP.
- 2012Founded · head office in Bengaluru
- 17.33 lakh MTPAInstalled capacity across 6 plants (Mar 2026)
- 83% green power230 MW from 10 solar and 6 wind agreements
- 2,459 employeesKarnataka and Andhra Pradesh operations
Promoters & holding
Sandeep Kumar, Sunil Jallan, Krishnan Kumar Jalan
Objects of the issue
Anchor investors
Allotted Sep 23, 2026 · 29,85,160 shares. Participants include LRSD Securities, Morgan Stanley Asia (Singapore), Longthrive Capital VCC – Trendview Capital Fund, Vikasa India EIF I Fund, SB Opportunities Fund II, Venus Investments VCC, Ashika Global Finance and Taurus MF.
A-One Steels India IPO Review: Should You Apply?
Our 100-point score, and both sides of the case.
Our view: A sizeable backward-integrated steelmaker with mostly green power and a cheaper P/E than listed peers, using most of the fresh issue to cut debt. But profit swings sharply (₹7.7 Cr in FY25 to ₹127 Cr in FY26), margins are thin, debt remains above equity, and the anchor book had little domestic mutual-fund interest.
- Backward-integrated steelmaker: sponge iron → billets → TMT, coils and pipes, with 17.33 lakh MTPA across six plants.
- ~83% of power from renewable sources (230 MW solar and wind), which lowers costs and carbon exposure.
- FY26 was strong: total income up 18% to ₹4,202 Cr and profit up to ₹127 Cr.
- ₹250 Cr of the ₹355 Cr fresh issue goes to repaying debt.
- Priced below listed peers (~24.6× vs Shyam Metallics ~28×, Jai Balaji ~46×).
- Very volatile earnings: profit went ₹38.9 Cr → ₹7.7 Cr → ₹127.4 Cr in three years, so FY26 may be a cyclical high.
- Thin margins (EBITDA ~7.3%, PAT ~3%) exposed to iron ore, coal and steel prices.
- Debt of ~₹1,011 Cr stays above net worth (D/E ~1.2) even after the planned repayment.
- Weak institutional signal: the anchor book had only one domestic mutual fund (Taurus, ~4%), and QIB bids arrived only at the close (0.10× after Day 2, 7.69× final; 12.22× overall).
- Promoters sell ₹50 Cr via OFS, post-issue promoter holding isn't disclosed on the sources used, and steel faces cheap-import competition.
A-One Steels India Listing Performance Updates after Oct 1
We close the loop: issue vs listing price, and whether our call was right.
A-One Steels India IPO Allotment Status & Contact Details
Allotment was finalised on Sep 29. Check it with your PAN or application number.
Bigshare Services Pvt. Ltd.
- Phone
- +91-22-6263 8200
- ipo@bigshareonline.com
A-One Steels India Ltd.
- Address
- A-One House, No. 326, CQAL Layout, Ward No. 08, Sahakarnagar, Bangalore Urban, Karnataka 560092
- Phone
- 080-45646000
- legal@aonesteelgroup.com
- Website
- aonesteelgroup.com
A-One Steels India IPO FAQs
GMP, price, lot size, dates, allotment and how to apply.
What is A-One Steels India IPO?
A-One Steels India IPO is a ₹405.00 Cr Mainboard book built issue made up of a fresh issue of ₹355.00 Cr and an offer for sale of ₹50.00 Cr. The shares will list on BSE and NSE.
What is A-One Steels India IPO GMP today?
As of Sep 30 · 2:15 PM IST, the grey market premium is ₹32 (≈7.9%), implying an estimated listing price of about ₹437. The GMP has ranged ₹21 – 40 since Sep 17. GMP is unofficial and not a guarantee of the listing price.
What is the price band of A-One Steels India IPO?
The price band is ₹385 – ₹405 per equity share of face value ₹10.
What is the lot size of A-One Steels India IPO?
The minimum lot is 37 shares. Retail investors can apply for 1 to 13 lots (37 to 481 shares).
What is the minimum investment for A-One Steels India IPO?
The minimum retail investment is ₹14,985 (37 shares at ₹405). The maximum retail application is ₹1,94,805 (13 lots).
When does A-One Steels India IPO open and close?
The IPO opens on Sep 24, 2026 and closes on Sep 28, 2026.
What is the allotment date of A-One Steels India IPO?
The basis of allotment is finalised on Sep 29, 2026.
When will A-One Steels India IPO be listed?
The tentative listing date is Oct 1, 2026 on BSE and NSE.
What is A-One Steels India IPO subscription status?
At close (Sep 28 · 5:00 PM IST), the issue was subscribed 12.22× overall — QIB 7.69×, bHNI 26.18×, sHNI 25.03×, Retail 9.09×, Employee 5.15×.
What is the P/E ratio and valuation of A-One Steels India IPO?
At the upper band, the P/E is 21.8× pre-issue and 24.6× post-issue, with a market cap of about ₹3,127.84 Cr. Listed peers include Shyam Metallics (28.3×) and Jai Balaji Industries (45.7×).
Should I apply for A-One Steels India IPO?
IPOSignal's view is Proceed with Caution · Cyclical, Priced on a Peak (56/100). A sizeable backward-integrated steelmaker with mostly green power and a cheaper P/E than listed peers, using most of the fresh issue to cut debt. But profit swings sharply (₹7.7 Cr in FY25 to ₹127 Cr in FY26), margins are thin, debt remains above equity, and the anchor book had little domestic mutual-fund interest. This is research, not investment advice.
How to check A-One Steels India IPO allotment status?
Check on the registrar Bigshare Services Pvt. Ltd.'s site (ipo.bigshareonline.com/IPO_Status.html), or on the BSE / NSE allotment pages, using your PAN or application number.
Who is the registrar and lead manager of A-One Steels India IPO?
The registrar is Bigshare Services Pvt. Ltd.. The book-running lead managers are PL Capital Markets Pvt. Ltd. and Khambatta Securities Ltd..