A-One Steels India Limited is a backward-integrated steel manufacturer in Southern India, offering a diversified portfolio of long steel, flat steel and industrial products across the steel value chain.
The company commenced operations in 2013 with MS billets and has an integrated manufacturing process covering sponge iron (DRI), MS billets and finished steel products such as TMT bars, HR/CR coils and pipes. Intermediate products are mainly used for captive consumption, with surplus sold in the open market.
A-One Steels also manufactures met coke, silicon manganese and ferro silicon. Its backward-integrated model helps maintain better control over product quality and availability, while reducing dependence on third-party suppliers.
The company’s products serve various construction, infrastructure, power and industrial applications, including bridges, highways, airports, dams, marine structures and high-rise buildings.
A-One Steels operates six manufacturing facilities across Karnataka and Andhra Pradesh, covering around 401.75 acres. The facilities are located in Gauribidanur, Bellary, Chikkantapur, Koppal and Hindupur, with two facilities in Bellary.
Product Portfolio:
- Sponge Iron: Intermediate product used in the company’s integrated steel manufacturing process.
- MS Billets: Semi-finished steel used for manufacturing downstream products such as TMT bars.
- TMT Bars: Reinforcement steel available in various grades and sizes for construction and infrastructure.
- HR Coils: Flat steel products used in downstream applications, including pipes.
- CR Coils: Cold-rolled steel products used for applications requiring specific surface and dimensional properties.
- Pipes & Tubes: Includes HR (MS) pipes, CR pipes and galvanized tubes and pipes for industrial and infrastructure applications.
- Met Coke & Ferro Alloys: Includes met coke, silicon manganese and ferro silicon, sold in the open market.
As of June 30, 2026, A-One Steels India Limited had a workforce of 2,459 personnel, comprising 1,377 permanent employees and 1,082 contractual employees. Its sales and marketing team consisted of 63 employees.
A-One Steels India IPO – Details
| IPO Opening Date | 24 September 2026 |
| IPO Closing Date | 28 September 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: [] Shares Worth ₹405.00 Crore Fresh Issue: [] Shares Worth ₹355.00 Crore Offer For Sale: [] Shares Worth ₹50.00 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹[] – ₹[] per share |
| Market Lot | [] Shares |
| Min Order | [] Shares [1 Lot] |
| Listing At | BSE, NSE |
| Register | Bigshare Services Pvt. Ltd. |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
SS Retail IPO – Date Schedule
| IPO Open Date | 24 September 2026 |
| IPO Close Date | 28 September 2026 |
| Basis of Allotment | 29 September 2026 |
| Initiation of Refund | 30 September 2026 |
| Credit of Shares to Demat Account | 30 September 2026 |
| IPO Listing Date | 01 October 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 28, 2026 |
A-One Steels India IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | – | – | ₹ |
| Retail (Max) | – | – | ₹ |
| S-HNI (Min) | – | – | ₹ |
| S-HNI (Max) | – | – | ₹ |
| B-HNI (Min) | – | – | ₹ |
Competitive Strength
- One of the largest backward integrated steel products manufacturers in southern India with a wide product portfolio.
- Business operations capitalizing on the strategic location advantage.
- Widespread, well-connected distribution network with a presence across multiple channels.
- Well-positioned in an industry with high entry barriers to benefit from favorable trends; command in the pricing of products with the ability to control the cost of manufacturing.
- Strong brand recall driven by high quality, innovative, and wide range of products.
- Leading company in the use of green energy for manufacture of steel products.
Company Promoters
- Sandeep Kumar
- Sunil Jallan
- Krishnan Kumar Jalan
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2024 | ₹3,862.44 Cr | ₹3,804.26 Cr | ₹38.91 Cr | ₹1,042.53 Cr |
| 31 March 2025 | ₹3,569.63 Cr | ₹3,539.34 Cr | ₹7.71 Cr | ₹963.67 Cr |
| 31 March 2026 | ₹4,202.05 Cr | ₹4,035.56 Cr | ₹127.41 Cr | ₹1,010.94 Cr |
Key Performance Indicator
| KPI | Values (Mar 31, 2026) |
|---|---|
| ROE | 14.70% |
| ROCE | 12.86% |
| Debt/Equity | 1.17 |
| RoNW | 15.43% |
| PAT Margin | 3.04% |
| EBITDA Margin | 7.29% |
| NAV | 119.70 |
| Pre IPO | Post IPO | |
| EPS (₹) | 18.61 | – |
| P/E (x) | – | – |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Pre-payment or partial re-payment of a portion of certain outstanding borrowings availed by the Company. | ₹250.00 |
| General Corporate Purposes. |
A-One Steels India IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 10 | MSP Steel & Power Ltd. | 13.80 |
| 2 | 2 | Jai Balaji Industries | 40.60 |
| 3 | 10 | Shyam Metalics and Energy Limited | 26.70 |
✅Strengths
- Backward-integrated operations with better control over quality and supply.
- Diversified product portfolio across steel and industrial products.
- Strategic locations near iron ore sources and major ports.
- High renewable energy usage and green-certified products.
⚠️Risks
- Steel price cyclicality may impact margins and profitability.
- Raw material price volatility can increase costs.
- Expansion projects involve execution and capital risks.
- Import competition may pressure domestic prices.
- Environmental and regulatory matters may affect operations.
A-One Steels India IPO Promoter Holding
| Pre Issue Share Holding | 85.86% |
| Post Issue Share Holding | – |
A-One Steels India IPO Prospectus
- A-One Steels India IPO DRHP
- A-One Steels India IPO RHP
Company Contact Information
| A-One Steels India Ltd. A-One House, No. 326, CQAL Layout, Ward No. 08, Sahakarnagar, Bangalore Urban, Karnataka, 560092 Phone: 080-45646000 Email: legal@aonesteelgroup.com Website: https://www.aonesteelgroup.com/ |
A-One Steels India IPO Registrar
| Bigshare Services Pvt. Ltd. Phone: 8657578989/8069219065/8069219060 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/IPO_Status.html |
A-One Steels India IPO Lead Manager(s)
| 1. Khambatta Securities Limited 2. PL Capital Markets Private Limited |
A-One Steels India IPO FAQs
| What is the A-One Steels India IPO? A-One Steels India IPO is a main-board IPO. The issue is priced at ₹[] to ₹[] per equity share. The IPO is to be listed on the BSE & NSE. |
| When will the A-One Steels India IPO open? The IPO is to open on 24 September 2026 for QIB, NII, and Retail Investors. |
| What is A-One Steels India IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the A-One Steels India IPO Size? A-One Steels India IPO size is ₹405.00 Crore. |
| What are the A-One Steels India IPO Minimum and maximum lot sizes for Retail? The minimum bid is [] Shares with ₹[], while the maximum bid is [] Shares with ₹[]. |
| What is the A-One Steels India IPO Allotment Date? A-One Steels India IPO allotment date is 29 September 2026. |
| What is the A-One Steels India IPO Listing Date? A-One Steels India IPO listing date is 01 October 2026. The IPO is to be listed on the BSE and the NSE. |
