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  1. A-One Steels India IPO Day 1: Issue booked 20% so far; check price band, key dates and other details

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A-One Steels India IPO Day 1: Issue booked 20% so far; check price band, key dates and other details

image Ahana Chatterjee

3 min read | Updated on September 24, 2026, 12:08 IST

SUMMARY

Until 11:57 AM, the initial share sale of the firm had received bids for 14,88,695 shares as compared to 73,84,934 shares on offer, as per exchange data.

A-One-Steels-India-IPO-day-1-sept-24

A-One Steels India also manufactures met coke and ferroalloys such as silicon manganese and ferro silicon. | Image: skyalloys.co.in

The initial public offering (IPO) of A-One Steels India on its first day of subscription saw a total booking of 20% so far on Thursday, September 24.

Until 11:57 AM, the initial share sale of the firm had received bids for 14,88,695 shares as compared to 73,84,934 shares on offer, as per exchange data.

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The non-institutional investor (NII) category was subscribed 0.21 times, while the retail individual investor (RII) segment saw 0.31 times subscriptions. However, the Qualified Institutional Buyers (QIB) portion did not see any booking until the time of publishing the story.

The ₹405 crore IPO is a book-building issue, comprising a fresh issue of ₹355 crore and an offer for sale (OFS) of ₹50 crore. Its price band has been set between ₹385 and ₹405 per share.

The minimum lot size for an application is 37 shares, and the investor must apply for at least 1 lot.

Ahead of the IPO, A-One Steels India raised ₹120.90 crore from anchor investors. The company allotted 29,85,160 equity shares to anchor investors at ₹405 apiece, the upper end of the IPO price band.

The anchor round saw participation from investors including LRSD Securities, Morgan Stanley Asia (Singapore), SB Opportunities Fund II, Longthrive Capital VCC, Trendview Capital Fund, Vikasa India, Ashika Global Finance and Taurus Mutual Fund.

A-One Steels India IPO Objective

The money raised from the IPO will be used towards the following objectives:

Repayment of loan (70.4%): The company will utilise ₹250 crore to repay certain outstanding borrowings.   
General corporate purposes (29.5%): Part of the IPO proceeds will be used for general corporate purposes and issue expenses.

A-One Steels India IPO: Listing date and time

EventDate
Subscription periodSeptember 24 to September 28
Basis of allotmentSeptember 28
Initiation of RefundsSeptember 29
Credit of Shares to DematSeptember 30
Listing dateOctober 1

About the company

A-One Steels India is a southern India-based, backwards-integrated steel manufacturer. Its operations span sponge iron, MS billets and downstream finished products, including TMT bars, HR and CR coils, HR/MS pipes, CR pipes and galvanised pipes. 

The company also manufactures met coke and ferroalloys such as silicon manganese and ferro silicon. Intermediate products are primarily consumed within the group's downstream operations, while surplus production is sold in the open market.

The company operates six manufacturing facilities: five in Karnataka and one in Andhra Pradesh.

Disclaimer: This article is written purely for informational purposes and should not be considered investment advice from Upstox. Securities mentioned are illustrative and not recommendations. Please consult a financial advisor before making any investment decisions.

About The Author

image Ahana Chatterjee
Ahana Chatterjee is a business journalist with 7 years of experience across several leading news platforms. At Upstox, she covers stock markets and corporate news.

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