- POSITIVE
Annual Revenue AOne Steels Mar-2024 Annual Revenue is Rs 3,514 Cr which is growth of 23.8% YoY.
- NEGATIVE
Annual Net Profit AOne Steels Mar-2024 Annual Net Profit is Rs 26 Cr which is growth of -70.4% YoY.
A One Steels India Ltd. IPO Details
A One Steels India was incorporated on April 9, 2012. The company is a backward integrated steel manufacturer in Southern India, offering a diverse range of long and flat steel products as well as industrial products used in steel manufacturing. According to a CRISIL report, it ranks among the top 5 steel producers in Southern India based on crude steel capacity and is the only company manufacturing 10 steel and industrial products
| Bidding Dates |
|---|
| 24 Sep 2026 - 28 Sep 2026 |
| Subscription |
|---|
| 7.14x Oversubscribed |
| Check Allotment Status |
|---|
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,245 | 1 | 13 | 37 | 10.0 M | ₹385 - ₹405 | 74.52 % | ₹3,850.0 M - ₹4,050.0 M | RHP DOC |
AOne Steels IPO SUBSCRIPTION STATUS
28 Sep '26Total7.14x
Retail Individual Investor6.91x
HNI (NII) Investors16.77x
Qualified Institutional Buyers0.42x
Employees3.94x
AOne Steels IPO overall subscription rate was 7.14 times the total available shares
AOne Steels IPO retail subscription rate was 6.91 times in the retail segment
AOne Steels IPO non-institutional investor subscription rate was 16.77 times in the non-institutional investor category
AOne Steels IPO Qualified Institutional Bidder subscription rate was 0.42 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
28 Sep 2026 02:34 PM (Day 3) | 6.91x | 16.77x | 0.42x | 3.94x |
25 Sep 2026 (Day 2) | 1.76x | 2.07x | 0.09x | 1.59x |
24 Sep 2026 (Day 1) | 0.77x | 0.77x | 0.09x | 0.63x |
AOne Steels FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY26 | 4,148.6 | 127.4 | 62.8 | -2.4 | 7.3% |
| FY25 | 3,541.8 | 7.7 | 109.0 | -45.8 | 4.9% |
| FY24 | 3,834.2 | 38.9 | 325.4 | 158.0 | 4.5% |
AOne Steels IPO SUBSCRIPTION STATUS DETAILS
AOne Steels has 10.0 M shares on offer
AOne Steels IPO offer price is in the range ₹385 - ₹405
AOne Steels IPO minimum Investment is ₹14245
AOne Steels IPO issue size is ₹ 3,850.0 M - ₹ 4,050.0 M
AOne Steels has a minimum lot size of 37 Shares per application
AOne Steels NUMBER OF SHARES ON OFFER
Total10.0 M
Fresh Issue8.8 M
Offer for Sale1.2 M
Post Issue Promoter Holding %74.52 %
AOne Steels IPO IMPORTANT DATES
| Issue Open Date | 24 Sep 2026 |
| Issue close Date | 28 Sep 2026 |
| Allotment Date | 29 Sep 2026 |
| Refund Date | 30 Sep 2026 |
| Demat Account Credit Date | 30 Sep 2026 |
| Listing Date | 01 Oct 2026 |
| Listing on Exchange(s) | NSE and BSE |
| AOne Steels Allotment Status | Exchange/ Registrar |
AOne Steels IPO subscription opens on 24 Sep 2026, and closes on 28 Sep 2026
IPO allotment for AOne Steels is expected to be finalized on Tuesday, 29 Sep 2026
IPO listing for AOne Steels will be on NSE and BSE on Thursday, 01 Oct 2026
AOne Steels Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| A-One Steels India Ltd. | 405 | 3127.8 | 24.7 | 0 | 0.7 | 15.1 | 4 | 4202.1 | 17.7 | 126.5 | 1389.6 | 16.4 | 1389.6 |
| JSW Steel Ltd. | 1259.6 | 308029.4 | 12.4 | 0 | 1.6 | 22.3 | 8.3 | 186718 | 10.1 | 22316 | 536.9 | 101.3 | 411.7 |
| Tata Steel Ltd. | 185.5 | 231569.5 | 21 | 0.1 | 1 | 10.6 | 3.6 | 233541.7 | 6.1 | 10793.9 | 215.6 | 8.8 | 143.1 |
| Jindal Steel Ltd. | 1135 | 115780 | 42.6 | -5.1 | 2.1 | 6.6 | 3.4 | 53553.1 | 7.3 | 3367.4 | 19.7 | 26.6 | -8.4 |
| Steel Authority of India (SAIL) Ltd. | 184.5 | 76212.3 | 17.8 | 0.4 | 0.7 | 5.6 | 2.5 | 111705 | 8.1 | 3372.8 | 42.2 | 10.3 | 40.8 |
| Jindal Stainless Ltd. | 746 | 61497.6 | 18.9 | 0.7 | 1.4 | 16.1 | 7.8 | 43306.1 | 9.4 | 3193.4 | 27.5 | 39.4 | 26.3 |
Annual
Balance Sheet
Ratios
Cash Flow
AOne Steels annual results: revenue, profit, P&L, and margins as of Mar 2024 – 11 year history
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| Indicator | Graph | Mar '24 | Mar '23 |
|---|---|---|---|
| 3,514 | 2,839.4 | ||
Operating Exp. Ann. | 3,365.2 | 2,642.7 | |
Operating Profit Ann. | 124.6 | 186.9 | |
OPM Ann. % | 3.55% | 6.58% | |
| 3,478.2 | 2,720.2 | ||
EBITDA Ann. | 148.9 | 196.6 | |
EBITDA Ann. margin % | 4.24% | 6.93% | |
Interest Ann. | 80.9 | 53.3 | |
Depr. | 32.2 | 24.2 | |
PBT Ann. | 35.8 | 119.1 | |
Tax Ann. | 9.6 | 30.8 | |
| 26.2 | 88.4 | ||
Net Profit Ann. | 26.2 | 88.4 | |
NPM Ann. % | 0.75% | 3.12% | |
EPS Adj. latest Ann. | 3.4 | 11.4 |
*All financials are in INR Cr and price data in INR
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Total Rev. Ann.
1Y CHG
23.8%
Net Profit Ann.
1Y CHG
-70.4%
Operating Exp. Ann.
1Y CHG
27.3%
AOne Steels IPO Reports
AOne Steels INFORMATION ON IPO ISSUE
About AOne Steels
A One Steels India was incorporated on April 9, 2012. The company is a backward integrated steel manufacturer in Southern India, offering a diverse range of long and flat steel products as well as industrial products used in steel manufacturing. According to a CRISIL report, it ranks among the top 5 steel producers in Southern India based on crude steel capacity and is the only company manufacturing 10 steel and industrial products
Object of the Issue
- Equity investment in Indian subsidiary of the company, Vanya Steels Private Limited for purchase of equipment /machineries and civil works for expansion of manufacturing facility
- Equity Investment in Indian subsidiary of the company, Vanya Steels Private Limited for investment in group captive power for procurement of solar energy
- Pre-payment or partial re-payment of a portion of certain outstanding borrowings availed by the company
- General corporate purposes
AOne Steels - PROMOTERS
| Name |
|---|
| Krishan Kumar Jalan |
| Sunil Jallan |
| Sandeep Kumar |
AOne Steels Book Running Lead Manager
PL Capital Markets Private Limited
aonesteelsipo@plindia.com
Khambatta Securities Limited
ipo@khambattasecurities.com
AOne Steels Registrar to the Offer
Bigshare Services private Limited
ipo@bigshareonline.com
AOne Steels Strengths
Geographical advantage
The company's manufacturing facilities are strategically located within a 100-kilometre radius of the mineral belt in Bellary and Koppal (Source: CRISIL Report). This strategic location helps the company source raw materials efficiently, reduce transportation costs, and create synergies, all of which contribute to achieving economies of scale and operational efficiencies
Strength
Widespread distribution network
The company distributes its products through a well-established supply chain, consisting of a network of 80+ authorized distributors, with long-term arrangements with 4 of them. Additionally, the company has over 700 direct retail sales channels and 25+ institutional clients as of June 30, 2024
Strength
Diverse product portfolio
The company has successfully developed "A-One Gold" as a popular brand in Southern India within the pipe and structural steel manufacturing sector. The brand is known for a wide range of products, including sponge iron, MS billets, TMT, HR Coil, CR Coil, HR Pipes, GP Pipes, CR Pipes, Coke/Metcoke, and Ferro Silicon/Manganese
Strength
AOne Steels Risks
Risks of underutilization of plant
Under-utilization of manufacturing capacities and inability to effectively use expanded capacities could hinder the company’s growth and financial performance. This may result in inefficiencies, higher costs, and reduced profitability, impacting market competitiveness
Risk
Price fluctuations & availability of raw material
An increase in the cost or shortage of key raw materials like iron ore, coal, and scrap could negatively impact the company’s operations. The company may not be able to pass these increased costs to customers, affecting profitability and cash flow
Risk
Disruptions in essentials utilities
Any disruption or shortage of essential utilities like power, fuel, water, and electricity could disrupt manufacturing operations and increase production costs, adversely affecting the company's financial performance
Risk
IPO FAQs
This IPO consists of an offer for sale of up to Rs 50.0 crore, of 1,234,567 shares. It also consists of a fresh issue of Rs 355.0 crore.
The promoters of the company are Krishan Kumar Jalan, Sunil Jallan and Sandeep Kumar.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 385.0 - 405.0.
The IPO application opens on Sep 24, 2026 and closes on Sep 28, 2026.
The minimum lot size for the IPO is 37. The maximum lot size for the IPO is 481.
For all category investors, the minimum application amount for this IPO is Rs. 14,245.0, the maximum value for this IPO is Rs 194,805.0.
This IPO will be allotted on Sep 29, 2026.
The refund will be credited to your account on Sep 30, 2026.
The allotted shares will be credited to your demat on Sep 30, 2026.
A One Steels India Ltd.’s shares will list on the stock exchanges on Oct 01, 2026.