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A-One Steels India Ltd

A-One Steels India Ltd
AONESTEELS A-One Steels India Ltd

BSE IPO

Bidding dates24 Sep 2026 - 28 Sep 2026

Price range₹385 - ₹405

Min. investment₹14,985

Issue size405 Cr

Lot size37 Shares

IPO DocRHP

IPO Timeline

Start date

24 Sep 2026

End date

28 Sep 2026

Allotment date

29 Sep 2026

Refund initiation

30 Sep 2026

Share credit

30 Sep 2026

Deactivate mandate

01 Oct 2026

About company

Incorporated in 2012, A-one Steels India Limited is a backward-integrated steel manufacturer with a diversified product portfolio, offering both long and flat steel products, as well as industrial products used in steel manufacturing.

The company manufactures HR and CR coils from MS billets, which are then converted into HR pipes, CR pipes, and galvanized tubes. It also produces TMT bars from MS billets in long steel products.

The company also manufactures industrial products like met coke and silicon manganese/ferrosilicon, which are sold in the open market. Ferrosilicon is essential in the steel industry for alloying.

The company sources significant green energy compared to peers (Source: CRISIL Report). Its TMT bars, certified as green products by CII, are produced in various sizes at the Gauribidanur and Hindupur plants.

The company relies on a steady power and fuel supply, with power purchase agreements for solar and wind energy (15 to 25 years) to support its manufacturing facilities in Karnataka and Andhra Pradesh.

The company has six manufacturing facilities: five in Karnataka (Gauribidanur, Bellary, Koppal, Chikkantapur) and one in Hindupur, Andhra Pradesh. The company's manufacturing facilities are located near major iron ore sources, within 450 km of ports like Ennore, New Mangalore, and Goa-Mormugao, allowing cost-effective product transportation.

The company products are used in various industries, including construction, infrastructure, power plants, dams, airports, bridges, flyovers, stadiums, highways, marine structures, industrial buildings, and high-rise residential constructions.

The company manufactures sponge iron at its Koppal facility (Vanya Steels) and Bellary Plant. It is setting up a 10 MW power plant with waste heat recovery on 39.29 acres of land.

Products:

Sponge iron: Primarily used in steel manufacturing as a raw material for the production of steel billets and other steel products.

MS billet: Used as raw material for rolling into bars, rods, and other structural steel products.

TMT: Construction and infrastructure for reinforcement in concrete structures.

HR coil: Manufacturing of pipes, tubes, automotive frames, and various industrial equipment.

CR coil: Used in precision instruments, automotive panels, appliances, and other finished goods requiring a smooth surface finish.

As of November 30, 2024, the company had 2,459 employees, including 1,377 permanent and 1,082 contractual. The sales and marketing team had 63 employees.

Founded in 2012

Managing director Sandeep Kumar Jalan

Parent organisation A-One Steels India IPO

Strengths and Risks

Strengths

The company operates a comprehensive setup across the value chain—from raw material processing (like sponge iron) to finished long and flat steel products (such as TMT bars, pipes, and tubes). This integration helps protect margins and ensures steady input supply.

Manufacturing facilities located in Karnataka and Andhra Pradesh are situated close to major iron ore sources and regional ports, minimizing freight and logistics expenses.

A-One Steels leverages group-captive solar and renewable power arrangements for a significant portion of its manufacturing needs. Some of its product lines (such as TMT bars) have received green product certifications, offering a competitive advantage.

Risks

The steel sector is deeply sensitive to economic cycles, global commodity swings, and infrastructure demand shifts. Downturns can severely compress real-realization rates and margins.

The steel sector is deeply sensitive to economic cycles, global commodity swings, and infrastructure demand shifts. Downturns can severely compress real-realization rates and margins.

Large-scale capital expenditures routed through its subsidiary for plant capacity scaling bring operational complexities, regulatory dependencies, and potential delays.

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