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German Green Steel & Power Ltd
Listed
Gujarat steel maker producing 'German TMT' bars, billets and sponge iron with captive power.
Issue details
Price band
₹132 – ₹139
Face value
₹10
Lot size
107 shares
Minimum investment
₹14,873
Issue size
₹303.90 Cr
Fresh issue
₹290 Cr
Offer for sale
₹13.90 Cr
Issue type
Book Built
Exchange
NSE, BSE
Key dates
Opens
25 Sep 2026
Closes
29 Sep 2026
UPI mandate cut-off
5:00 PM on 29 Sep 2026
Allotment
30 Sep 2026
Refunds
1 Oct 2026
Shares in demat
1 Oct 2026
Listing
5 Oct 2026
Subscription and listing
Subscription
30.42x
Listing price
₹142
Registrar
Bigshare Services Pvt Ltd
Lead manager
Systematix Corporate Services, Emkay Global Financial Services, Pantomath Capital Advisors
Subscription by category
QIB (Ex Anchor)
21.91x
NII
56.77x
bNII (> ₹10L)
56.78x
sNII (< ₹10L)
56.73x
Retail
23.98x
Total
30.42x
Total applications
15,74,374
Anchor investors
Amount raised
₹91.17 Cr
Bid date
24 Sep 2026
50% lock-in ends
29 Oct 2026
Rest lock-in ends
28 Dec 2026
Listing day
Issue price
₹139
Open
₹142.00
High
₹142.81
Low
₹125.50
Day close
₹128.33
Listing gain at open
+2.16%
Issue structure
Shares reserved per category and share of the total issue
QIB
1,09,31,653
50.00%
Anchor Investor
65,58,991
30.00%
QIB (Ex. Anchor)
43,72,662
20.00%
NII
32,79,497
15.00%
bNII > ₹10L
21,86,332
10.00%
sNII < ₹10L
10,93,165
5.00%
Retail
76,52,159
35.00%
Total
2,18,63,309
100.00%
Finaccle’s quick read
Apply
Income up 11% and PAT up 33% in FY26 with ROE of 18.86%, debt/equity of 0.79 and post-issue P/E of 13.11; OFS is only ₹13.90 Cr of ₹303.90 Cr.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
German Green Steel & Power is an Ahmedabad-based steel maker that sells TMT bars under the 'German TMT' brand, mainly in Gujarat and western India. It also produces MS billets and sponge iron at a vertically integrated plant in Samakhiyali and a second unit at Viramgam through a subsidiary. It reported FY26 total income of about ₹1,685 Cr with around 1,350 employees.
Founded
Promoters
Products and segments
Promoter holding
Financial performance
Period
PAT
ROE
18.86%
ROCE
19.31%
Debt / equity
0.79
PAT margin
4.76%
P/E post issue
13.11
Market cap
₹1,047.35 Cr
Use of IPO money
Capex at Samakhiyali facility and hybrid wind/solar power plant
₹226.33 Cr
Prepayment/repayment of borrowings
₹7.70 Cr
General corporate purposes
₹29.50 Cr
Issue expenses
₹27.74 Cr
Strengths
✓
Vertically integrated plant with captive power
✓
Established 'German TMT' brand in Gujarat
✓
PAT nearly doubled from FY24 to FY26
✓
Mostly fresh issue funding capacity and green power
Risks to watch
!
Thin PAT margin of 4.76%, typical of commodity steel
!
Debt/equity of 0.79 with ₹334 Cr of borrowings
!
Regional concentration in Gujarat
!
Exposed to steel and raw material price cycles
!
Large capex plan carries execution risk
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.