GERMAN GREEN STEEL & POWER IPO
GERMAN GREEN STEEL & POWER is a MAINBOARD IPO with a current status of LISTED. The price band is 132 - 139. The issue opens on 25 SEP and closes on 29 SEP. The listing date is 05 OCT.
Price Band
132 - 139
Unofficial GMP
₹15
Lot Size
107 shares
Minimum Investment
₹₹14,124
GERMAN GREEN STEEL & POWER IPO GMP
The latest available GMP is ₹15. Grey Market Premium is unofficial, may change frequently and does not guarantee the listing price, listing gains or investment returns.
Estimated Listing Price
₹154.00
Estimated Gain
+10.8%
GERMAN GREEN STEEL & POWER IPO GMP History
23
23 SEP
29
24 SEP
31
25 SEP
30
28 SEP
25
29 SEP
12
29 SEP
15
30 SEP
13.5
01 OCT
13.5
02 OCT
10
05 OCT
15
05 OCT
GERMAN GREEN STEEL & POWER IPO Details
- IPO Type
- MAINBOARD
- Status
- LISTED
- Price Band
- 132 - 139
- Issue Size
- ₹303.90 Cr
- Issue Type
- Book Build Issue
- Fresh Issue
- ₹290.00 Cr
- Offer for Sale
- ₹13.90 CR
- Face Value
- 10
- Lot Size
- 107
- Minimum Investment
- ₹14,124
- Exchange
- BSE, NSE
- Registrar
- Bigshare Services Pvt.Ltd
- Lead Managers
- Systematix Corporate Services Ltd.
GERMAN GREEN STEEL & POWER IPO Dates
- Open Date
- 25 SEP
- Close Date
- 29 SEP
- Allotment Date
- 30 SEP
- Refund Date
- 01 OCT
- Demat Credit Date
- 01 OCT
- Listing Date
- 05 OCT
GERMAN GREEN STEEL & POWER IPO Subscription
- QIB
- 21.91x
- NII / HNI
- 56.77x
- Retail
- 23.98x
- Employee
- --
- Total Subscription
- 30.42x
GERMAN GREEN STEEL & POWER IPO Financials
Revenue
FY2026
₹1,679.00 Cr
+11.34% vs FY2025
PAT
FY2026
₹79.89 Cr
+33.28% vs FY2025
Total Assets
FY2026
₹1,220.00 Cr
+20.20% vs FY2025
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue | 1,130 | 1,508 | 1,679 |
| Net Profit | 41.67 | 59.94 | 79.89 |
| Total Assets | 560 | 1,015 | 1,220 |
GERMAN GREEN STEEL & POWER IPO Valuation
- Market Cap (Post IPO)
- ₹1047.35 Cr.
- EPS
- 14.66
- P/E Ratio
- 9.48
- Price to Book Value
- 1.79
- ROE
- 18.86%
- ROCE
- 19.31%
- RONW
- 18.86%
- Debt / Equity
- 0.79%
- PAT Margin
- 4.76%
- EBITDA Margin
- 9.94%
- Valuation
- ATTRACTIVE
GERMAN GREEN STEEL & POWER IPO Market Lot
| Category | Lots | Shares | Investment |
|---|---|---|---|
| Retail Minimum | 1 | 107 | ₹14,873 |
| Retail Maximum | 1,391 | 1,391 | ₹1,93,349 |
| Small HNI | 14 | 1,498 | ₹2,08,222 |
| Big HNI | 68 | 7,276 | ₹10,11,364 |
GERMAN GREEN STEEL & POWER IPO Reservation
- QIB
- 50%
- NII / HNI
- 15%
- Retail
- 35%
GERMAN GREEN STEEL & POWER Promoter Holding and Anchor Allocation
- Pre-IPO Promoter Holding
- 96.63%
- Post-IPO Promoter Holding
- 68.54%
GERMAN GREEN STEEL & POWER Company Overview
German Green Steel and Power Limited, incorporated in 2008, is a vertically integrated iron and steel manufacturer based in Gujarat. The company primarily manufactures TMT bars, mild steel billets and sponge iron. Its TMT bars are marketed principally under the German TMT brand. The company manufactures TMT bars in multiple grades and sizes and has also expanded into value-added products such as cut-and-bend bars and epoxy-coated TMT bars. German Green Steel operates manufacturing facilities at Samakhiyali in Kutch, Gujarat and, through its material subsidiary German TMT Private Limited, at Viramgam, Gujarat. The company's vertically integrated operations include sponge iron, billets and TMT manufacturing along with captive power infrastructure. It also uses coal-based, waste-heat-recovery, wind and solar power sources. In FY2026, the company reported revenue from operations of approximately ₹1,678.98 crore and PAT of approximately ₹79.89 crore.
GERMAN GREEN STEEL & POWER Business Model
German Green Steel and Power operates primarily as a B2B iron and steel manufacturer. Its core product portfolio consists of: TMT Bars MS Billets Sponge Iron Cut-and-Bend TMT Bars Epoxy-Coated TMT Bars The company sells products through distributors, dealers and institutional customers. In FY2026, distributors contributed approximately 37.57%, dealers 20.89%, and institutional customers 41.53% of revenue. The company has captive power generation capabilities comprising coal-based power, waste-heat recovery and renewable energy sources. Its business performance is primarily dependent on steel demand, construction and infrastructure activity, raw-material prices, energy costs, capacity utilisation and prevailing steel prices.
GERMAN GREEN STEEL & POWER Objects of the Issue
Expansion of Samakhiyali manufacturing facility and hybrid wind & solar power project ₹226.33 Crore Repayment/prepayment of certain borrowings ₹7.70 Crore General Corporate Purposes Balance Net Proceeds The IPO comprises a ₹290 crore Fresh Issue along with an Offer for Sale of 10 lakh equity shares. The majority of fresh issue proceeds will therefore be deployed towards capacity expansion and renewable/captive power infrastructure.
GERMAN GREEN STEEL & POWER Strengths
1. Vertically Integrated Operations German Green Steel operates across multiple stages of steel manufacturing, including sponge iron, billets and finished TMT bars. Vertical integration can provide greater control over production, quality and certain input requirements. 2. Strong PAT Growth PAT increased from approximately ₹59.94 crore in FY2025 to ₹79.89 crore in FY2026, representing growth of approximately 33.28%. Profit growth substantially exceeded revenue growth during FY2026. 3. Improving EBITDA Margin EBITDA increased from approximately ₹116.81 crore in FY2025 to ₹166.96 crore in FY2026. EBITDA margin improved from approximately 7.75% to 9.94%. 4. Established German TMT Brand The company's principal TMT products are sold under the German TMT brand, supported by an established distributor, dealer and institutional-customer network. 5. Captive Power Infrastructure The company operates coal-based and waste-heat-recovery captive power facilities and has also invested in wind and solar energy. Captive generation can help reduce dependence on external electricity supply and manage energy costs. 6. Strong Capacity Utilisation FY2026 utilisation at key facilities remained relatively high. Sponge iron utilisation at Samakhiyali was approximately 95.21%, while TMT utilisation at Viramgam was approximately 92.66%. 7. Attractive Relative Valuation At the upper price band of ₹139, post-issue P/E is approximately 13.11x based on diluted/post-issue EPS.
GERMAN GREEN STEEL & POWER Risks
1. Customer Concentration The company's top 10 customers contributed approximately 50.62% of FY2026 revenue. Its largest customer alone contributed approximately 10.67%. Loss of one or more major customers could materially affect revenue. 2. Geographic Concentration The company's operations and sales are highly concentrated in Gujarat. Approximately 97.74% of FY2026 revenue was generated from Gujarat. This creates significant geographic concentration risk. 3. Steel Industry Cyclicality The steel industry is highly cyclical. Demand and prices for TMT bars, MS billets and sponge iron are affected by construction activity, infrastructure investment, economic conditions and domestic/global steel prices. 4. Raw Material Price Risk Steel manufacturing requires significant quantities of coal, iron ore and other raw materials. Sharp fluctuations in raw-material prices can adversely affect margins. 5. Borrowings FY2026 total borrowings were approximately ₹334.37 crore, while Debt/Equity stood at approximately 0.79x. Only approximately ₹7.70 crore of IPO proceeds is proposed for repayment/prepayment of borrowings. Therefore: Debt Risk: MEDIUM 6. Large Expansion Project Approximately ₹226.33 crore of fresh issue proceeds is proposed for manufacturing expansion and hybrid renewable-power infrastructure. Project delays, cost overruns or lower-than-expected utilisation could adversely affect returns. 7. Distribution Dependence The company relies on distributors and dealers for a substantial portion of sales. Failure to maintain these relationships or build distribution outside its existing markets could affect growth. 8. No Long-Term Customer Contracts The company generally operates through periodic purchase orders rather than long-term supply commitments. Future revenue from existing customers is therefore not guaranteed. 9. Regulatory and Environmental Risk Steel manufacturing is subject to environmental, pollution-control and industrial regulations. Non-compliance or stricter regulations could increase costs or affect operations.
GERMAN GREEN STEEL & POWER Frequently Asked Questions
What is the GERMAN GREEN STEEL & POWER IPO price band?
The GERMAN GREEN STEEL & POWER IPO price band is 132 - 139.
What is the latest GERMAN GREEN STEEL & POWER IPO GMP?
The latest available GERMAN GREEN STEEL & POWER IPO GMP in the IPOWEB database is ₹15. GMP is unofficial and does not guarantee a listing gain.
When does the GERMAN GREEN STEEL & POWER IPO open and close?
The GERMAN GREEN STEEL & POWER IPO opens on 25 SEP and closes on 29 SEP.
When is the GERMAN GREEN STEEL & POWER IPO allotment date?
The GERMAN GREEN STEEL & POWER IPO allotment date is 30 SEP.
When is the GERMAN GREEN STEEL & POWER IPO listing date?
The GERMAN GREEN STEEL & POWER IPO listing date is 05 OCT.
What is the GERMAN GREEN STEEL & POWER IPO subscription?
The latest total subscription available for the GERMAN GREEN STEEL & POWER IPO is 30.42x.