A-One Steels IPO is set to list on the NSE and BSE today, October 1. Ahead of the debut, the latest grey market premium (GMP) points to an estimated listing price of Rs 452, or a potential 11.60% gain over the IPO's upper price band of Rs 405.
Note: GMP does not represent official data and is based on speculation.
A-One Steels IPO GMP, Expected Listing Price
According to the InvestorGain website, the latest GMP of A-One Steels stood at Rs 47 as of 7:30 a.m. on October 1. With an upper price band of Rs 405, the estimated listing price for A-One Steels IPO is Rs 452 (cap price + today's GMP). This means that the expected percentage gain per share for investors is 11.60%.
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A-One Steels IPO Subscription Status
The issue was subscribed 11.61 times. Non-Institutional Investors led the demand, bidding for 24.51 times the shares reserved for them. Retail Individual Investors subscribed 8.64 times, while Qualified Institutional Buyers (QIBs) bid for 7.30 times their quota. Employees subscribed 4.87 times.
Overall, against 73.85 lakh shares on offer, investors placed bids for around 8.57 crore shares.
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A-One Steels IPO Allotment Status
A-One Steels IPO allotment was finalised on September 29. Refunds and credit of shares were initiated on September 30, ahead of the October 1 listing.
A-One Steels IPO Details
A-One Steels IPO was a book-built issue of Rs 405 crore.
- The issue is a combination of a fresh issue of 87.71 lakh shares aggregating to Rs 355.00 crore, and
- Offer for sale of 12.35 lakh shares aggregating to Rs 50.00 crore
A-One Steels IPO issue price band was set at Rs 385 to Rs 405 per share. The lot size for an application was 37 shares. The minimum amount of investment required by an individual investor (retail) was Rs 14,985 (37 shares) (based on the upper price).
PL Capital Markets Pvt. Ltd. is the book-running lead manager and Bigshare Services Pvt. Ltd. is the registrar of the issue.
A-One Steels IPO: Use of Proceeds
- Pre-payment or partial re-payment of a portion of certain outstanding borrowings: Rs 250 crore
- General corporate purposes
A-One Steels IPO Business Details
A-One Steels India, incorporated in 2012, is a backward-integrated steel manufacturer producing long and flat steel products, including HR and CR coils, pipes, galvanised tubes and TMT bars. A-One Steels has six manufacturing facilities across Karnataka and Andhra Pradesh. It also uses solar and wind power and operates near iron ore sources and ports.
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Disclaimer: Investments in IPOs are subject to market risks. Investors should read the red herring prospectus carefully and consult a financial adviser before making investment decisions.
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