A-One Steels India will carry Rs 650 crore IPO, papers filed with SEBI – INA NEWS
A-One Steels India IPO: Bangalore-based A-One Steels India goes to launch its IPO. The corporate has filed draft paper for this with market regulator SEBI. The corporate intends to lift Rs 650 crore via IPO. The corporate will use the proceeds from the IPO to increase its enterprise and repay its debt. In line with the DRHP filed on December 30, new shares price Rs 600 crore will likely be issued within the IPO. Moreover, shares price Rs 50 crore will likely be bought by the promoters via Provide for Sale (OFS).
Particulars associated to A-One Steels India IPO
Promoters maintain 85.56 % shareholding within the firm. Other than this, public shareholders maintain 14.14 % stake. The metal firm will use Rs 344.4 crore of the contemporary situation proceeds to increase its manufacturing facility. Moreover, the group plans to spend Rs 40 crore for a captive energy plant.
Moreover, out of the full excellent borrowings of Rs 1,396.2 crore by September 2024, Rs 100 crore will likely be used to repay the mortgage. PL Capital Markets and Khambatta Securities have been appointed service provider bankers to the problem.
Enterprise of A-One Steels India
A-One Steels India is a metal manufacturing firm primarily based in South India, with 6 manufacturing services in Karnataka and Andhra Pradesh. The corporate has a diversified portfolio of lengthy and flat metal and industrial merchandise utilized in metal manufacturing. Its whole put in capability by June 2024 was 14.97 lakh metric tonnes each year (MTPA) of metal (intermediate and completed) merchandise. The corporate competes with listed entities like MSP Metal & Energy, Jai Balaji Industries and Shyam Metallics & Vitality.
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A-One Steels India will carry Rs 650 crore IPO, papers filed with SEBI
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