Overview
- A-One Steels opened trading on Thursday at Rs 462 on the BSE and Rs 455 on the NSE, about 14% and 12.3% above the Rs 405 issue price and valuing the company near Rs 3,223 crore.
- The IPO closed with 11.61 times subscription from roughly 8.18 lakh applications, showing particularly strong demand from non-institutional investors and solid interest from retail and institutional participants.
- The public offer raised Rs 405 crore at the top of a Rs 385–405 price band, comprising a Rs 355 crore fresh issue and an offer-for-sale of up to Rs 50 crore.
- The company plans to use approximately Rs 250 crore of the fresh proceeds to pre-pay or partially repay outstanding borrowings, with remaining funds for general corporate purposes to reduce leverage.
- Pre-listing grey-market premiums signalled a likely listing uplift that moderated before the debut, brokers gave generally positive long-term views, and investors should watch quarterly results and leverage metrics for the next signs of performance.