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A-One Steels India gets Sebi's nod to raise Rs 650 crore via IPO

05 Jun 2025 Evaluate

A-One Steels India has received the Securities and Exchange Board of India’s (SEBI's) approval to raise Rs 650 crore through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares worth up to Rs 600 crore and an Offer for Sale (OFS) of shares aggregating up to Rs 50 crore by promoters, Sandeep Kumar, Sunil Jallan and Krishan Kumar Jalan.

The company proposes to utilise the net proceeds, from the fresh issue towards investment in its subsidiary, Vanya Steels, for purchase of equipment /machinery, expansion of manufacturing facility, and investment in Group captive power for procurement of solar energy. Funds will also be used by A-One Steels to repay debt and general corporate purposes. PL Capital Markets and Khambatta Securities are the book-running lead managers to the issue. The shares of the company are proposed to be listed on the BSE and the NSE.

Bengaluru-based A-One Steels India is a backward integrated steel manufacturer in southern India with a diversified product portfolio in both long and flat steel products and industrial products used in steel manufacturing. 


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