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A-One Steels India IPO Fully Subscribed on Day 2; GMP at 12%
M
Moneycontrol•25-09-2026, 17:34
A-One Steels India IPO Fully Subscribed on Day 2; GMP at 12%
- •A-One Steels India's Rs 405-crore IPO was subscribed 1.35 times by Day 2, with strong demand from non-institutional and retail investors.
- •The company's shares are commanding a grey market premium (GMP) of around 12 percent, indicating positive market sentiment.
- •A-One Steels India raised Rs 120.9 crore from anchor investors, including LRSD Securities, Morgan Stanley, and Longthrive Capital, ahead of the public issue.
- •The IPO, open until September 28, includes a fresh issue of Rs 355 crore and an offer-for-sale of Rs 50 crore.
- •Proceeds from the fresh issue will primarily be used for debt repayment, with the balance for general corporate purposes.
Key Questions Answered
On the second day of bidding on September 25, the Rs 405-crore IPO of A-One Steels India was subscribed 1.35 times. The non-institutional category saw 2.07 times subscription, and the retail portion was subscribed 1.59 times. In the grey market, shares were commanding a premium of around 12 percent.
A-One Steels India raised Rs 120.9 crore through its anchor book on September 23. The company allotted 29.85 lakh equity shares to eight anchor investors at the upper end of the price band of Rs 385-405 per share.
A-One Steels India plans to deploy Rs 250 crore from the net proceeds of the fresh issue towards the repayment of debt. The balance amount from the issue will be utilized for general corporate purposes.
