A-One Steels India Limited (ASIL), a Bengaluru-headquartered integrated steel manufacturer, has announced that its initial public offering (IPO) will open for subscription on Thursday, September 24, 2026. The Anchor Investor bidding will take place on Wednesday, September 23, while the issue will close on Monday, September 28, 2026.
The Company aims to raise ₹35,500 lakhs through a fresh issue of equity shares and proposes to list its equity shares on the BSE and NSE. The price band has been fixed at ₹385 to ₹405 per equity share of face value ₹10 each. The minimum bid lot is 37 equity shares, with bids thereafter to be made in multiples of 37 shares.
The IPO comprises a fresh issue of equity shares aggregating up to ₹35,500 lakhs and an Offer for Sale of equity shares aggregating up to ₹5,000 lakhs by the Promoters, Sandeep Kumar, Sunil Jallan and Krishan Kumar Jalan. At the cap price, not more than 49,75,308 equity shares are proposed to be allocated to Qualified Institutional Buyers (QIBs), including up to 29,85,185 equity shares available for Anchor Investors in consultation with the Book Running Lead Managers. Not less than 14,92,593 equity shares are proposed to be available for Non-Institutional Bidders (NIBs), while not less than 34,82,716 equity shares are allocated for Retail Individual Bidders (RIBs). The Offer also includes a reservation of up to 49,382 equity shares for eligible employees. Employees bidding under this category will be offered a discount of ₹38 per equity share.
According to the Red Herring Prospectus, ASIL proposes to utilise ₹25,000 lakhs from the Offer proceeds towards the prepayment or partial repayment of certain outstanding borrowings. The balance is proposed to be used for general corporate purposes and offer expenses.
A-One Steels is a vertically integrated steel manufacturer with a diversified portfolio covering long and flat steel products and industrial products. The Company and its subsidiaries operate six manufacturing units across Karnataka and Andhra Pradesh, with facilities at Gauribidanur, Hindupur, Chikkantapur, Bellary and Koppal. The facilities have an aggregate installed capacity of 17,33,100 MTPA.
The manufacturing network covers complementary stages of steel production. Koppal manufactures sponge iron; Gauribidanur and Hindupur produce MS billets and TMT bars; Bellary Facility I manufactures sponge iron, MS billets, HR coils and HR (MS) pipes; Bellary Facility II produces galvanized pipes; and Chikkantapur manufactures met coke and ferro alloys.
The Company has also focused on lower-emission steel production. Its TMT bars from Gauribidanur and Hindupur, along with specified HR coil and HR (MS) pipe grades from Bellary Facility I, have received GreenPro Ecolabel accreditation. ASIL received a Green Steel Certificate from the National Institute of Secondary Steel Technology for producing 1,80,351 tonnes of TMT bars in Fiscal 2026 at an average emission intensity of 0.67 t-CO2e/tfs.
As of Fiscal 2026, 83.20% of the Company’s total power requirement was met through green energy, helping it save approximately ₹1.57 per unit in electricity costs. The Company has also initiated the compliance process for steel exports to the European Union under the Carbon Border Adjustment Mechanism (CBAM).
ASIL sells through direct retail channels, authorised distributors, institutional customers and other intermediaries. As of March 31, 2026, its sales network comprised 1,246 direct retail sales channels, 32 authorised distributors and 57 institutional customers. The Company commenced operations in 2013 with MS billet manufacturing at its Gauribidanur facility. In Fiscal 2026, A-One Steels reported revenue from operations of ₹4,14,856.74 lakhs, compared with ₹3,54,178.09 lakhs in Fiscal 2025. Profit after tax, after exceptional items, stood at ₹12,740.82 lakhs in Fiscal 2026, compared with ₹771.05 lakhs in Fiscal 2025.
