Mumbai: A-One Steels India Ltd shares began trading at a premium on Thursday, October 1, with the steel manufacturer listing about 14 per cent above its ₹405 IPO issue price on the BSE.
The stock opened at ₹462 on the BSE, giving investors a ₹57 gain per share over the issue price.
On the NSE, A-One Steels shares listed at ₹455, representing a premium of 12.34 per cent, or ₹50 per share.
The company’s market valuation stood at ₹3,223 crore at its trading debut.
IPO Subscription Reaches 11.61 Times
The ₹405-crore A-One Steels IPO received bids for 11.61 times the shares offered by the close of bidding on Monday.
The public issue carried a price band of ₹385–₹405 per share, with the final issue price fixed at the upper end.
The offer comprised a fresh issue worth ₹355 crore and an offer for sale of shares aggregating up to ₹50 crore.
The fresh issue brings funds into the company, while the OFS involves the sale of existing shares.
Issue Size Reduced From Draft Proposal
A-One Steels reduced its IPO size from the ₹650 crore proposed in draft papers submitted to the Securities and Exchange Board of India in December 2024.
The ₹405-crore offer was ₹245 crore smaller than the original proposal.
₹250 Crore Allocated For Debt Repayment
The company plans to use ₹250 crore from the net fresh issue proceeds to prepay or partly repay certain outstanding borrowings.
The remaining funds will support general corporate purposes, according to the utilisation plan.
Integrated Steel Manufacturing Business
Headquartered in Bengaluru, A-One Steels India operates as a vertically integrated steel manufacturer.
Its operations cover sponge iron, mild steel billets and finished products, including TMT bars, hot rolled and cold rolled coils.
The portfolio also includes mild steel pipes, cold rolled pipes, galvanised pipes and tubes.
Beyond steel products, the company manufactures metallurgical coke and ferro alloys for industrial applications.
