A-One Steels shares debut at over 12% premium on NSE; here's how much investors made per lot

On the BSE, the stock debuted at ₹462 per share, up 14.07% from the issue price.

A-One Steels share price: Here's how much investors made per lot

The ₹405 crore IPO comprised a fresh issue of ₹355 crore and an offer-for-sale (OFS) component of ₹50 crore by promoters Sandeep Kumar, Krishnan Kumar Jalan and Sunil Jallan.

Of the net proceeds, ₹250 crore will be used for pre-payment or partial repayment of certain outstanding borrowings, while the rest will be utilised for general corporate purposes.

"Our Company expects to achieve the benefit of listing of our Equity Shares on the Stock Exchanges, including enhancement of our Company’s brand name and creation of a public market for our Equity Shares in India," the firm said in its red herring prospectus (RHP).

The initial public offering was subscribed 11.61 times, as it received bids for 8,57,02,989 shares versus 73,84,934 shares on offer, as per the data available with the NSE website.

The quota for non-institutional investors (NIIs) was booked 24.51 times, while the category for retail investors was subscribed 8.64 times. The part for qualified institutional buyers (QIBs) received 7.30 times subscription.

Bengaluru-headquartered A-One Steels India Limited is a vertically integrated steel maker with operations spanning sponge iron, MS billets and finished steel products like TMT bars, MS pipes, HR and CR coils, CR pipes and galvanised tubes and pipes. It also manufactures industrial products like silicon manganese/ferrosilicon and met coke.