A-One Steels shares make strong debut, list at 14% premium on BSE
A-One Steels share price: A-One Steels India shares made a strong debut on the bourses on Thursday, delivering a listing gain of 14 per cent to IPO investors.
The shares opened at ₹462 apiece on the BSE, a gain of ₹57, or 14.07 per cent, over the issue price of ₹405.
On the NSE, A-One Steels shares debuted at ₹455, up ₹50, or 12.35 per cent, over the issue price.
Following the listing, the company commanded a market capitalisation of ₹3,568.24 crore, according to BSE data.
The listing was broadly in line with grey market expectations, which had indicated a gain of around 11-12 per cent for investors.
A-One Steels India had fixed the price band for the offer at ₹385-405 apiece.
The company reduced the issue size from the proposed ₹650 crore in its draft papers filed with Sebi in December 2024.
Of the net proceeds from the fresh issue, ₹250 crore will be used for pre-payment or partial repayment of certain outstanding borrowings, while the remaining funds will be utilised for general corporate purposes.
Bengaluru-headquartered A-One Steels India is a backward/vertically integrated steel manufacturer with operations spanning sponge iron, MS billets and finished steel products such as TMT bars, HR and CR coils, MS pipes, CR pipes and galvanised pipes and tubes.
The company also manufactures industrial products including met coke and ferro alloys.
