Bangalore-based A-One Steels india is planning to raise Rs 650 crore thru preliminary public supplying (IPO) for facility expansion and debt reduction.
It has filed preliminary papers with the capital markets regulator SEBI.
As in keeping with the DRHP filed on december 30, the IPO will consist of sparkling issuance of shares really worth Rs 600 crore, and an offer-for-sale of Rs 50 crore well worth stocks by using promoters who held 85.fifty six percent shareholding inside the agency. Public shareholders very own 14.14 percent stake.
A-One Steels, with six production centers karnataka and Andhra Pradesh, is a backward integrated metallic manufacturer in southern india with a different portfolio of long and flat metal, and business merchandise used in metal production. As of june 2024, it had a total mounted capacity of 14.ninety seven lakh metric lots per annum (MTPA) of steel (intermediate and finished) products.
The business enterprise competes with indexed entities like MSP steel and energy, jai rainbowbalaji Industries, and shyam Metallics and electricity.
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The steel manufacturer intends to spend Rs 344.four crore out of the fresh trouble proceeds for growth of producing facility and Rs forty crore for group captive electricity plant. in addition, Rs one hundred crore might be used for repaying debt out of its general incredible borrowings of Rs 1,396.2 crore until september 2024.
PL capital Markets, and Khambatta Securities are appointed because the service provider bankers for the problem.
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