A-One Steels India
Karnataka-based integrated steel maker producing TMT bars, HR and CR pipes and galvanized tubes, plus industrial inputs like met coke and ferro alloys, from six plants.
Last updated 4 Oct 2026, 7:13 pm IST
- Price band
- ₹385 – ₹405
- Lot size
- 37
- Issue size
- ₹405 Cr (₹355 Cr fresh + OFS)
- Opens
- 24 Sept 2026
- Closes
- 28 Sept 2026
- Exchange
- Both
The numbers
- GMP
- ₹58 (~14.3%) (28 Sep, final day; was ₹56 on 27 Sep)
- Subscription
- 2.63× (final day, 28 Sep)
- Listing gain
- NSE +12.3% (1 Oct, open)
- Listing date
- 1 Oct 2026
- Model prediction
- ~+14% expected → Subscribe. Listed +12.3% NSE (1 Oct), closed +2.3%; call held on the open.
The Ticker Tales take
A-One Steels India, founded in 2012, is an integrated steel maker: it turns MS billets into TMT bars, HR and CR pipes and galvanized tubes, and also makes industrial inputs such as met coke and silicon manganese. Its steel goes into construction, highways, bridges, airports, dams, power plants and high-rise housing, and it runs six plants — five in Karnataka and one at Hindupur in Andhra Pradesh. The ₹405 crore issue is mostly fresh money (₹355 crore) going into the company, with a smaller offer for sale on top. Worth weighing: this is a commodity-steel business, so margins move with steel and coal prices rather than with anything the company controls. The book closed strong at about 2.63 times covered, and the grey market premium firmed to around ₹58, roughly 14% over the top of the band. We expect a modest listing — a pop of around 14% — so this stays a Subscribe. It listed at ₹455 on NSE, up 12.3% against our 14%, close to the call, but gains faded to about +2.3% by the close.
More details
- Plants
- 6 (Gauribidanur, Bellary, Koppal, Chikkantapur - Karnataka; Hindupur - AP)
- Sector
- Integrated steel (TMT bars, pipes, tubes)
- Issue type
- Book-built (₹355 Cr fresh + OFS)
- Reservation
- QIB 50% / Retail 35% / NII 15%
- Incorporated
- 2012
- Anil Singhvi - Long-term call
- Not clearly stated
- Anil Singhvi - Listing-gain call
- Not clearly stated
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Calls here follow a set formula (GMP, subscription trends) plus Anil Singhvi's publicly shared view — not investment advice. Please do your own research before investing.