Home › Listed IPOs › German Green Steel & Power IPO
German Green Steel & Power IPOLISTED
German Green Steel and Power Limited is an integrated steel manufacturer producing TMT Bars, MS Billets and Sponge Iron through its manufacturing facilities in Gujarat.
Listing price
₹142
Listing gain
+2.16%
Current
₹142
Listed
05 Oct 26
Opens
25 Sept 26Closes
29 Sept 26Allotment
30 Sept 26Refund
01 Oct 26Demat
01 Oct 26Listing
05 Oct 26Overview
Price band
₹132-139
Lot size
107 shares
Min. investment
₹14,873
Issue size
₹303.90 Cr
2.19 Cr shares
Fresh issue
₹290 Cr
2.09 Cr shares
Offer for sale
₹13.9 Cr
10.00 L shares
Face value
₹10 / share
Issue type
Book Built Issue
Listing at
NSE, BSE
Reservation
| Category | Shares offered | % of issue |
|---|---|---|
| Anchor Investor | 65,58,991 | 30% |
| QIB | 43,72,664 | 20% |
| NII (HNI) | 32,79,496 | 15% |
| B-HNI | 21,86,331 | 10% |
| S-HNI | 10,93,165 | 5% |
| Individual | 76,52,158 | 35% |
| Total | 2,18,63,309 | 100% |
Lot size & investment
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 107 | ₹14,873 |
| Retail (Max) | 13 | 1,391 | ₹1,93,349 |
| S-HNI (Min) | 14 | 1,498 | ₹2,08,222 |
| S-HNI (Max) | 67 | 7,169 | ₹9,96,491 |
| B-HNI (Min) | 68 | 7,276 | ₹10,11,364 |
Listing performance
NSE/BSE: GERMANListing gain
+2.16%
Gain per retail lot
₹321
Latest vs issue
—
GMP was
₹9 (+6.47%)
Issue price
GMP estimate
Listing price
Latest price appears here during market hours.
German Green Steel & Power Live GMP
Not enough GMP history yet to draw a trend.
Subscription
29 Sept, 05:42 pmOversubscribed 30.42 times · 16,08,732 applications
Total applications
16,08,732
Total bid amount
₹6,470 Cr
Category breakdown
| Category | Shares offered | Shares bid | Times | Bid amount |
|---|---|---|---|---|
| QIB | 43,72,664 | 9,58,05,874 | 21.91x | ₹1,332 Cr |
| NII (HNI) | 32,79,496 | 18,61,63,094 | 56.77x | ₹2,588 Cr |
| B-HNI | 21,86,331 | 12,41,43,647 | 56.78x | ₹1,726 Cr |
| S-HNI | 10,93,165 | 6,20,19,447 | 56.73x | ₹862 Cr |
| Retail | 76,52,158 | 18,35,19,231 | 23.98x | ₹2,551 Cr |
| Total | 1,53,04,318 | 46,54,88,199 | 30.42x | ₹6,470 Cr |
Application-wise breakup
| Category | Applications reserved | Applied | Times |
|---|---|---|---|
| B-HNI | 1,460 | 16,766 | 11.48x |
| S-HNI | 730 | 40,340 | 55.26x |
| Retail | 71,515 | 15,52,972 | 21.72x |
Allotment chance per application is roughly 1 ÷ times for the category (lottery for retail and S-HNI).
Financials
(₹ in crores)
Key performance indicators
As of 31 Mar 2026ROE
18.86%
PAT Margin
4.76%
ROCE
19.31%
EBITDA Margin
9.94%
Debt to Equity Ratio
0.79
Price to Book Value
0.67
RoNW
18.86%
Valuation vs listed peers
EPS Pre IPO
₹14.66
EPS Post IPO
₹10.6
P/E Pre IPO
9.48
P/E Post IPO
13.11
Price-to-earnings
| Company | P/E | P/B | RoNW | Face value |
|---|---|---|---|---|
| Beekay Steel Industries Ltd | 22.54 | — | — | — |
| Gallant Ispat Limited | 27.8 | — | — | — |
| Kamdhenu Limited | 14.57 | — | — | — |
| MSP Steel & Power Limited | 61.57 | — | — | — |
| VMS TMT Limited | 8.92 | — | — | — |
Peer median P/E 22.5× · Ratios as disclosed in the offer document.
Buzz AI analysis
From this IPO's filings and market data · educational, not investment advice
Revenue growth FY24 → FY26
+48.2%
Profit growth FY24 → FY26
+91.7%
P/E vs peer median
13.1× vs 22.5×
- PAT margin 4.8% and ROCE 19.3%.
- Priced below its listed-peer median P/E.
Strengths & risks
- Integrated Operations with in-house steel production.
- Strong TMT Focus contributing 78.74% of FY2026 revenue.
- Captive Power supports energy requirements.
- Established Gujarat Network of dealers and distributors.
- Capacity Expansion planned across key products.
Buzz score · Neutral
From GMP, subscription and issue size
Objects of the issue
| Purpose | Amount (₹ Cr) |
|---|---|
| Funding the capital expenditure requirements of its manufacturing facility at Samakhiyali, Kutch, Gujarat and hybrid wind and solar power plant. | 226.33 |
| Prepayment or re-payment, in full or in part, of certain outstanding borrowings availed by the Company. | 7.7 |
| General Corporate Purposes. | - |
Company & documents
German Green Steel and Power Limited manufactures and sells TMT Bars, MS Billets and Sponge Iron, following an integrated production model with a focus on value-added steel products.
The company operates two manufacturing facilities in Gujarat: Samakhiyali, which produces Sponge Iron, MS Billets and TMT Bars, and Viramgam, which produces MS Billets and TMT Bars. Its TMT Bars are available in Fe500, Fe500D, Fe550, Fe550D and CRS variants, ranging from 8 mm to 40 mm.
As of March 31, 2026, the company had installed capacities of 3,01,950 MT for TMT Bars, 3,57,060 MT for MS Billets and 66,000 MT for Sponge Iron. In FY2026, TMT Bars contributed 78.74% of revenue, making it the largest product segment.
The company follows a B2B model, serving distributors, dealers and institutional customers across sectors such as roadways, engineering, thermal plants and real estate.
The company also has captive power infrastructure at its Samakhiyali Facility, including a 16 MW coal-based power plant and a 4 MW waste-heat recovery plant. As of March 31, 2026, approximately 75.44% of its energy requirements were met through its captive and renewable energy facilities.
The company has expanded into value-added steel products, including Cut & Bend TMT Bars and Epoxy-coated TMT Bars. Epoxy-coated TMT Bars are designed with a protective coating to improve resistance to corrosion.
As of March 31, 2026, the company's workforce comprised 1,357 employees, and they utilised the services of 143 contract labourers.
Registrar
Company contact
German Green Steel & Power Ltd.
German House, Near Bharat Petrol Pump, Opp. Kochrab Ashram, Paldi, Ahmedabad, Gujarat, 380007
Phone: 9723555100
Email: secretarial@germansteel.in
Book running lead managers
- Systematix Corporate Services Limited
- Emkay Global Financial Services Limited
- Pantomath Capital Advisors Private Limited
Promoters
- Inamulhaq Shamsulhaq Iraki
- Abdulhaq Shamsulhaq Iraki
- Ibrarulhaq Inamulhaq Iraki