2 hrs ago
A-One Steels India Shares Debut 14% Above IPO Price
A-One Steels India sold shares to the public through an IPO.
The shares were priced between Rs 385 and Rs 405 each.
When trading began, the shares were about 14% more expensive than the IPO price.
This means investors who received shares initially saw a gain.
Many investors applied for the IPO, so it was subscribed 11.61 times.
The company raised Rs 405 crore from the offering.
A-One Steels makes several kinds of steel products.
It produces items such as pipes, galvanized tubes and TMT bars.
A-One Steels India shares listed at a 14% premium to the IPO issue price.
The company raised Rs 405 crore through its IPO, including a Rs 355 crore fresh issue and a Rs 50 crore offer-for-sale.
The IPO was open for subscription from September 24 to 28, with shares priced at Rs 385-405 each.
The issue was subscribed 11.61 times, receiving bids worth Rs 3,475 crore through 8.18 lakh applications.
A-One Steels India manufactures long and flat steel products, including pipes, galvanized tubes and TMT bars.
- Who
- A-One Steels India, a Bengaluru-based steel manufacturer, and investors who subscribed to its IPO.
- What
- The company’s shares made a stock-market debut at a 14% premium to the IPO issue price.
- Where
- The company is based in Bengaluru, India; the shares debuted on the Indian stock market.
- When
- The IPO was open for bidding from September 24 to 28; the listing date was not specified.
- Why
- The company raised funds through an IPO, which attracted bids worth Rs 3,475 crore and was subscribed 11.61 times.
Key facts
- IPO size
- Rs 405 crore
- Fresh issue
- Rs 355 crore
- Offer-for-sale
- Up to 12,34,567 shares worth Rs 50 crore
- Issue price
- Rs 385-405 per share
- Overall subscription
- 11.61 times
- Listing premium
- 14%
Sources
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