Is A ONE Steels Limited stock halal?
India (NSE) · Registered offering filing · Priced · prospectus read on 2026-10-28
Not compliant, per the screens we ran: debt is 32.3% of the offer valuation (final price × shares after the offering), above the 30% limit.
An automated read of published screens, not a fatwa.
Numbers from the prospectus
Offer valuation: 31,280,504,670 INR
| Screen | Ratio | Limit | Prospectus page |
|---|---|---|---|
| Debt to offer valuation | 32.3% | 30% | 149 |
| Cash and short-term investments to offer valuation | 3.2% | 30% | 148 |
| Non-compliant income to total income | not measured | 5% | 152 |
The company's business as stated in the prospectus (page 325)
We are a backward/vertically integrated steel manufacturer based in southern India, with a diversified product portfolio comprising long and flat steel products, as well as industrial products used in steel manufacturing.
Screens not run
- Non-permissible revenue share (5% limit): not measured for this offering, because we found no readable interest-income figure in its prospectus
- Receivables ratio: Standard 21 sets no limit for it, so we do not apply a limit from outside the standard
Offer details
India (NSE) · Registered offering filing · Priced · priced 2026-10-01
Source: SEBI public issues · fetched 2026-10-28 · prospectus read 2026-10-28
The original prospectus · SEBI public issues
We apply AAOIFI Shari'ah Standard No. 21, Financial Paper (Shares and Bonds), issued on 30 Rabi' I 1425 AH (20 May 2004), as published on AAOIFI's website. We last reviewed its limits on 2026-10-01. We read what the standard says; we do not issue fatwas.
This is an automated read of published screens, not a fatwa. We name what we ran; whatever we did not run stays outside the read.
This page describes what the prospectus states. It is not a recommendation to subscribe or not.