- Summary
- The German Green Steel & Power IPO is a mainboard IPO, scheduled to open on 25 September 2026 and close on 29 September 2026.
- The tentative listing of the IPO shares is fixed on 5 October 2026 on the BSE and NSE platforms.
- The price band of the share is fixed at ₹132-₹139 per share, with a minimum application of 1 lot (107shares).
German Green Steel & Power IPO is a mainboard IPO public issue scheduled to open on 25 September 2026 and close on 29 September 2026. The company has fixed the price band at ₹132 to ₹139 per share, with a minimum application of 107 shares. The IPO comprises a fresh issue of ₹290 crore and an offer for sale of 10 lakh shares. The shares are proposed to be listed on both BSE and NSE, with the tentative listing date set for 5 October 2026.
German Green Steel & Power IPO Key Details
The table below presents the essential details investors should know before applying for the German Green Steel & Power IPO.
| IPO Open Date | 25 September 2026 |
| Close Date | 29 September 2026 |
| Face value | ₹10 per share |
| Price Band | ₹132-₹139 per share |
| IPO Lot Size | 107 shares |
| Fresh issue | ₹290.00 crores |
| Offer for Sale | 10,00,000 shares |
| Type of issue | Mainboard |
| Listing at | BSE and NSE |
| Total Issue Size (₹ Crore) | ₹304 crores approx |
| Minimum Investment | 1 lot (107 shares) |
German Green Steel & Power IPO Timeline
Below is the complete schedule of events for the German Green Steel & Power IPO.
| Bid Opening | 25 September 2026 |
| Bid Closing | 29 September 2026 |
| Tentative Allotment | 30 September 2026 |
| Initiation of Refunds | 1 October 2026 |
| Credit of Shares to Demat | 1 October 2026 |
| Tentative Listing Date | 5 October 2026 |
| UPI mandate closing date | 29 September 2026 |
Key Performance Indicators of German Green Steel & Power IPO
These financial ratios highlight the company’s profitability, capital efficiency, and overall financial performance over the past three financial years.
| 31-03-2026 | 31-03-2025 | 31-03-2024 | |
| ROE (%) | 18.86 | 20.40 | 23.67 |
| ROCE (%) | 19.31 | 15.91 | 18.62 |
| Net Debt Equity (in times) | 0.79 | 1.18 | 1.13 |
| RoNW (%) | 18.86 | 20.40 | 23.67 |
| PAT Margin (%) (Net) | 4.76 | 3.98 | 3.69 |
| EBITDA margin (%) | 9.94 | 7.75 | 7.02 |
| Price to book | 1.79 |
German Green Steel & Power IPO Financial Details
The Financial information of the German Green Steel & Power IPO is as follows.
| FY 2025-2026 | FY 2024-2025 | FY 2023-2024 | |
| Revenue | 1,678.98 | 1,507.57 | 1,129.78 |
| Total Asset | 1,220.24 | 1,015.20 | 559.73 |
| Profit | 79.89 | 59.94 | 41.67 |
German Green Steel & Power IPO Subscription Status
The subscription data of the German Green Steel & Power IPO has been given below.
| Date | QIB (Ex Anchor) | NII | NII (> ₹10L) | NII (< ₹10L) | Retail | Total |
|---|---|---|---|---|---|---|
| Sep 25 (Day 1) | 1.39 | 2.59 | 2.65 | 2.46 | 1.74 | 1.82 |
| Sep 28 (Day 2) | 1.39 | 5.68 | 4.84 | 7.34 | 4.68 | 3.95 |
German Green Steel & Power IPO Grey Market Premium (GMP)
The current status of the Grey Market Premium for the German Green Steel & Power IPO shows a GMP of ₹29 with an estimated listing price of ₹168.
| GMP Date | GMP | Est. Listing Price on upper price-₹139.00 | Est. Profit* | Trend |
|---|---|---|---|---|
| 28-Sep 11:37 Sub: 3.08x | ₹26 (18.71%) ▼ | ₹165 | ₹2,782 | Stable |
| 27-Sep 23:37 | ₹29 (20.86%) ▲ | ₹168 | ₹3,103 | Stable |
| 26-Sep 23:37 | ₹27.5 (19.78%) ▲ | ₹166.5 | ₹2,942 | Stable |
| 25-Sep 23:37 Sub: 1.82x O | ₹26 (18.71%) ▼ | ₹165 | ₹2,782 | Stable |
| 24-Sep 23:37 | ₹29 (20.86%) ▲ | ₹168 | ₹3,103 | Stable |
| 23-Sep 23:37 | ₹24 (17.27%) ▲ | ₹163 | ₹2,568 | Stable |
| 22-Sep 23:37 | ₹15 (10.79%) ─ | ₹154 | ₹1,605 | Initial |
GMP is the premium value of the IPO share in the unofficial market before it opens for subscription.
German Green Steel & Power IPO Reservation
The following table shows the distribution of shares reserved for retail investors, QIBs, and NIIs under the IPO.
| Investor Category | Offered No. of Shares | % of Total Issue |
| QIBs | 43,72,664 | _ |
| NIIs | 32,79,496 | 24.43 |
| Retails | 76,52,158 | 50.00 |
| Total | 1,53,04,318 | 100% |
German Green Steel & Power IPO Lot Sizes
Refer to the minimum and maximum investment requirements for each investor category as per the prescribed lot size.
| Application | Lot | Shares | Amount in ₹ |
| Retail(Min) | 1 | 107 | 14,873 |
| Retail (Max) | 13 | 1,391 | 1,93,349 |
| sHNI (Min) | 14 | 1,498 | 2,08,222 |
| sHNI (Max) | 67 | 7,169 | 9,96,491 |
| bHNI (Min) | 68 | 7,276 | 10,11,364 |
German Green Steel & Power IPO Prospectus
Investors can access the offered prospectus for the German Green Steel & Power IPO mentioned below.
About German Green Steel & Power Ltd.
German Green Steel and Power Limited was incorporated in 2008 as Haq Enterprises Private Limited. It was subsequently renamed Haq Steels and Metaliks Private Limited in 2018, converted into a public limited company later that year, and renamed German Green Steel and Power Limited in January 2024. The company’s registered and corporate office is located in Ahmedabad, Gujarat.
The company operates two manufacturing facilities in Gujarat. The Samakhiyali facility is vertically integrated and handles the production of sponge iron, MS billets and TMT bars. The Viramgam facility is operated through its material subsidiary, German TMT Private Limited. Steel scrap is one of the company’s primary raw materials.
Promoters:
- Inamulhaq Shamsulhaq Iraki
- Abdulhaq Shamsulhaq Iraki
- Ibrarulhaq Inamulhaq Iraki
| Book Runner | Systematix Corporate Services Ltd. Emkay Global Financial Services Ltd. Pantomath Capital Advisors Pvt. Ltd. |
| Issue Registrar | Bigshare Services Pvt. Ltd. |
Purpose of German Green Steel & Power IPO
The company intends to deploy the funds raised through this public issue toward specific operational and strategic goals, as detailed in the table below.
| Particulars | Est. Amount in ₹ Crores |
| For prepayment or repayment of outstanding borrowings | 7.70 |
| For capital expenditure requirements | 226.33 |
| General corporate purposes | – |
| Total | – |
German Green Steel & Power Ltd.- Strengths and benefits
- Integrated manufacturing setup: The Samakhiyali facility integrates the production of sponge iron, MS billets and TMT bars at the same location. It is also supported by a 20 MW captive power plant comprising 16 MW of coal-based capacity and 4 MW of waste heat recovery capacity, along with hybrid wind and solar power plants.
- Experienced promoters: Inamulhaq Shamsulhaq Iraki has more than 36 years of industry experience, while Abdulhaq Shamsulhaq Iraki has more than 31 years of experience. The company also has a management team with experience across finance, compliance, human resources and other functions.
- Established supply network: The company has a B2B sales network covering distributors, dealers and institutional customers. In FY2026, distributors contributed 37.57% of revenue from operations, institutional customers contributed 41.53%, and dealers contributed 20.89%. Seven of its top 10 customers had relationships with the company for more than three years as of March 31, 2026.
German Green Steel & Power Ltd- Risks and limitations
- Demand and price volatility: The demand and pricing of TMT bars, MS billets and sponge iron are subject to the cyclical nature of the steel industry and movements in raw material prices. A fall in TMT bar prices or weaker demand could adversely affect revenue and profitability.
- Dependence on top customers: The company’s top 10 customers had contributed majorly to its revenue from operations in FY2026 at a rate of 50.62%. The loss of a major customer or any reduction in its purchases could highly affect the company’s revenue and financial performance.
- Trademark-related risks: The company and its material subsidiary received cease-and-desist notices relating to the use of the “TMX” and “Thermex” trademarks. The company subsequently entered into Thermex licence and trademark agreements with H&K Rolling Mill Engineers Private Limited.
German Green Steel & Power IPO Review
German Green Steel & Power IPO is scheduled to open on 25th September 2026 and close on 29th September 2026. It is a mainboard IPO issuing a total of approximately ₹304 crore worth of shares. The company has fixed the price band at ₹132 to ₹139 per share, with a lot size of 107 shares, requiring a minimum investment of ₹14,873 at the upper price band. The IPO consists of a fresh issue of ₹290 crore and an offer for sale of 10,00,000 shares. The shares are to be listed on both the BSE and NSE platforms, with the tentative listing date set for 5th October 2026. The tentative allotment date is 30th September 2026, while refunds and credit of shares to demat accounts are scheduled for 1st October 2026.
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German Green Steel & Power IPO FAQs
German Green Steel and Power IPO is a book-building IPO on the main board, with a fresh issue size of ₹290 crore and an offer-for-sale of 10 lakh equity shares. It will be open on 25 September 2026 and close on 29 September 2026.
Investors can apply for the German Green Steel & Power IPO through their broker or other permitted IPO application channels using the ASBA or UPI mechanism, as applicable. The minimum application is one lot of 107 shares at the applicable issue price.
The company has a vertically integrated manufacturing setup, an established distribution network and improving financial performance. At the same time, investors should consider its customer concentration, dependence on dealers and distributors, steel price volatility and high geographic concentration in Gujarat before making an investment decision.
The German Green Steel & Power IPO will open for subscription on 25 September 2026 and close on 29 September 2026.
The IPO lot size is 107 shares. At the upper price band of ₹139 per share, one lot requires an investment of ₹14,873.
The tentative allotment date for the German Green Steel & Power IPO is 30 September 2026.
The tentative listing date for German Green Steel & Power IPO shares is 5 October 2026. The shares are proposed to be listed on both BSE and NSE.
