Bengaluru-based A-One Steels India to raise ₹405 crore in an IPO
Bengaluru-based A-One Steels India Limited is launching an IPO on September 24, 2026, aiming to raise ₹405 crore. The company plans to use the majority of the funds to repay outstanding debt.
Why it matters
The IPO reflects the growth of regional steel manufacturers in India and their efforts to optimize capital structures through public markets.
A-One Steels India Limited, (ASIL), a Bengaluru-headquartered integrated steel manufacturer, announced that its initial public offering (IPO) will open for subscription on September 24, 2026. Shares are set to debut on the BSE and NSE on October 1, 2026.
The company has fixed the price band for its ₹405 crore IPO at ₹385–405 per share and the issue comprises a fresh issue and OFS (offer for sale), with proceeds primarily earmarked for repayment of outstanding borrowings. Out of the ₹355 crore fresh issue proceeds, ₹250 crore is earmarked exclusively for debt repayment.
Promoters of the South-India focused steel makers, comprising Sandeep Kumar, Sunil Jalan, and Krishan Kumar Jalan, in a media conference earlier this week, revealed that the company’s net profits surged from ₹7.7 crore in FY25 to ₹127.4 crore in FY26, backed by a 17.1% increase in operational revenue, which crossed ₹4,148 crore.
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