A-One Steels shares make strong debut, list at 14% premium on BSE

A-One Steels shares opened at ₹462 apiece on the BSE, up ₹57, or 14.07 per cent, from the issue price of ₹405.

A-One Steels share price: A-One Steels India shares made a strong debut on the bourses on Thursday, delivering a listing gain of 14 per cent to IPO investors.

 

The shares opened at ₹462 apiece on the BSE, a gain of ₹57, or 14.07 per cent, over the issue price of ₹405.

 

On the NSE, A-One Steels shares debuted at ₹455, up ₹50, or 12.35 per cent, over the issue price.

 

Following the listing, the company commanded a market capitalisation of ₹3,568.24 crore, according to BSE data.

 

The listing was broadly in line with grey market expectations, which had indicated a gain of around 11-12 per cent for investors. A-One Steels India stock: Buy, sell or hold? 

Ravi Singh, chief research officer, at Master Capital Services, said that A-One Steels India commenced operations in 2013 as a backward/vertically integrated steel manufacturer in southern India with a diversified portfolio of 10 steel and industrial products. It also produces met coke and ferro alloys and the intermediate products are mainly for captive consumption in the downstream operations. As on 31 March 2026, the company has an installed capacity of 17,33,100 MTPA across six manufacturing units in Karnataka and Andhra Pradesh. He noted that demand for finished steel is expected to grow at a CAGR of 6.5-8.5 per cent between FY2027 and FY2031 to reach 227-237 million tons by FY2031. Also, demand for long steel is forecast to rise 6-8 per cent in the same period, driven by infrastructure and rural housing projects, while demand for flat steel is expected to grow at 7-9 per cent. "In the near-term, investors may focus on the company’s ability to sustain revenue growth and effectively utilise its manufacturing capacity across its broad steel product suite. The stock could attract greater market attention if upcoming results show sustained revenue growth, margins, higher capacity utilisation and stronger operating cash flow," he said.

 

 

A-One Steels India IPO details The ₹405 crore IPO of A-One Steels was subscribed 11.61 times. The company had received bids for 8,57,02,989 shares against 73,84,934 shares on offer, as per data available with the NSE.

 

A-One Steels India had fixed the price band for the offer at ₹385-405 apiece.

 

A-One Steels India's public offer was a fresh issue of shares worth ₹355 crore and an offer-for-sale (OFS) of shares aggregating up to ₹50 crore. 

 

The company reduced the issue size from the proposed ₹650 crore in its draft papers filed with Sebi in December 2024.

 

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

 

Bengaluru-headquartered A-One Steels India is a backward/vertically integrated steel manufacturer with operations spanning sponge iron, MS billets and finished steel products such as TMT bars, HR and CR coils, MS pipes, CR pipes and galvanised pipes and tubes.

 

The company also manufactures industrial products including met coke and ferro alloys.