Steel Manufacturing - Listed on 01 October 2026
A-One Steels (Steel Manufacturing) closed its IPO window in 2026 and listed on NSE and BSE on 01 October 2026 at an upper band issue price of Rs 405, opening at Rs 455 for a listing gain of +12.3% and closing day one at Rs 406.7 (+0.4% on closing basis). The IPO was subscribed 11.61x overall - QIB 7.30x, HNI/NII 24.51x, Retail 8.64x. The total issue size was Rs 405 Cr (Fresh Issue Rs 355 Cr, OFS Rs 50 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Steel Manufacturing
A-One Steels India is a backward-integrated steel manufacturer producing long and flat steel products, including TMT bars, HR and CR coils, pipes and galvanized tubes, along with industrial products such as met coke and ferroalloys.
Issue structure, listing outcome and context
The ₹405 crore IPO comprised a ₹355 crore fresh issue and ₹50 crore offer for sale, priced at ₹405 per share at the upper end. The shares listed on NSE at ₹455 on 1 October 2026, a 12.35% premium to the issue price, and traded at ₹406.70 later in the listing session.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 49 | +12.10% |
| Day 2 | Rs 51 | +12.59% |
| Day 3 | Rs 35 | +8.64% |
| Day 4 | Rs 28 | +6.91% |
| Day 5 | Rs 47 | +11.60% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
Prediction Accuracy: 1.9 pp (Highly accurate)
How the broader market moved around the A-One Steels IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
A-One Steels IPO listed at +12.3% versus the upper issue price of Rs 405 on 01 October 2026.
A-One Steels IPO was subscribed 11.61x overall. QIB portion was subscribed 7.30x, HNI / NII 24.51x and Retail 8.64x.
IPO GMP started at Rs 49 on Day 1 and moved to Rs 47 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.