The IPO will consist of fresh shares worth INR 600 crore and an offer-for-sale for shares worth INR 50 crore for promoters holding 85.56 percent stake in the company. Public shareholders own 14.14 percent stake in the Bangalore-based company.

Jan 16, 2025

A-One Steels India Private Limited has filed the Draft Red Herring Prospectus (DHRP) with the Stock Exchange Board of India (SEBI), seeking approval to raise INR 650 crore through an initial public offering (IPO).

It said the IPO will consist of fresh shares worth INR 600 crore and an offer-for-sale for shares worth INR 50 crore for promoters holding 85.56 percent stake in the company. Public shareholders own 14.14 percent stake in the Bangalore-based company.

A-One Steels India is a backward integrated steel manufacturer from southern India with a diversified portfolio of long and flat steel, along with industrial products used in steel manufacturing.

It operates with six manufacturing facilities in Karnataka and Andhra Pradesh having total installed capacity of 14.97 lakh MTPA of steel (intermediate and finished) products.

The leading steel producer aimed to utilize INR 344.4 crore out of the fresh issue proceeds for expansion of manufacturing facility and INR 40 crore for group captive power plant. It further intended to use INR 100 crore for repaying debt out of its total outstanding borrowings of INR 1,396.2 crore till September 2024.

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PL Capital Markets and Khambatta Securities are appointed as merchant bankers for the issue.