A-One Steels IPO to raise Rs 605 cr; 70 pc of fresh issue earmarked for debt repayment

Bengaluru, Sep 18 (UNI) Bengaluru-headquartered A-One Steels India Ltd is set to launch its initial public offering (IPO) on September 24, seeking to raise up to Rs 605 crore through a combination of fresh capital and an Offer for Sale by its promoters. The issue assumes significance as nearly 70 per cent of the Rs 355-crore fresh issue proceeds will be used to pre-pay or partially repay the company's outstanding borrowings, while promoters Sandeep Kumar, Sunil Jallan and Krishan Kumar Jalan will offer shares worth up to Rs 250 crore. The IPO will open on September 24 and close on…