German Green Steel IPO 2026: Details, Price Band, GMP, Financials & IPO Analysis

German Green Steel and Power Limited is set to launch its IPO from 25 September 2026 to 29 September 2026. The company operates in the iron and steel industry and manufactures TMT bars, MS billets and sponge iron under its German TMT brand.

The German Green Steel IPO has a total issue size of ₹303.90 crore, comprising a ₹290 crore fresh issue and an Offer for Sale of ₹13.90 crore. The price band has been fixed at ₹132–₹139 per share, with a lot size of 107 shares. At the upper price band, the minimum retail investment is ₹14,873.

The shares are proposed to be listed on the BSE and NSE on 5 October 2026.

German Green Steel IPO Details

German Green Steel IPO Timeline

All dates are tentative and subject to change.

German Green Steel IPO GMP Today

As of 22 September 2026, the available GMP for German Green Steel IPO is ₹0. At the upper price band of ₹139, the indicative listing price based on the current GMP is ₹139.

GMP Disclaimer: Grey market premium is an unofficial market indicator and may change frequently. It should not be treated as a guarantee of the actual listing price or future performance.

German Green Steel IPO Subscription Status

The German Green Steel IPO is scheduled to open on 25 September 2026. Hence, live subscription figures are not available as of 22 September 2026.

Category-wise subscription figures will be updated after bidding starts.

German Green Steel IPO Day-wise Subscription Trend

The day-wise subscription trend will be available once the IPO opens.

German Green Steel IPO Current Subscription

Current subscription data is not available yet, as bidding for the IPO has not started. The IPO will open on 25 September 2026, after which live category-wise subscription figures can be tracked.

German Green Steel IPO Lot Size

The minimum bid is 107 shares and bids can be placed in multiples of 107 shares. At the upper price band of ₹139, one lot requires an investment of ₹14,873.

German Green Steel IPO Reservation

The IPO reservation is structured as follows:

• QIB: Not more than 50% of the Offer
• Retail: Not less than 35% of the Offer
• NII: Not less than 15% of the Offer
•  

About German Green Steel and Power

German Green Steel and Power Limited was incorporated in 2008 and operates in the iron and steel manufacturing industry, with its operations primarily concentrated in Gujarat.

The company has established a presence in the TMT bar segment under the German TMT brand. Its product portfolio includes TMT bars, MS billets and sponge iron, catering primarily to construction and infrastructure applications.

The company operates two production facilities in Gujarat. Its Samakhiyali plant functions as a vertically integrated manufacturing facility, while the Viramgam plant is operated through its subsidiary, German TMX Private Limited.

The TMT bar range is available in sizes from 8 mm to 40 mm, catering to different construction requirements.

The company's Samakhiyali facility benefits from its location near major ports in Gujarat. During the nine months ended 31 December 2024, a substantial portion of revenue was generated through its distributor and dealer network. Its business model primarily serves distributors, dealers and institutional customers who supply products to contractors, builders and other construction-sector users.

German Green Steel's manufacturing facilities are certified under ISO 9001:2015, ISO 45001:2018 and ISO 14001:2015, covering quality management, occupational health and safety, and environmental management.

Competitive Strengths

• Integrated manufacturing operations with captive power generation capabilities.
• Established dealer and distribution network across Gujarat.
• Long-standing customer relationships.
• Strong presence in the TMT bar market under the German TMT brand.
• Experienced management and promoters.
• Focus on product quality, operational efficiency and process improvement.
• Demonstrated improvement in operational and financial performance.

German Green Steel IPO Objectives

The net proceeds from the fresh issue are proposed to be utilised for the following purposes:

A significant portion of the fresh issue is proposed to fund capital expenditure at the company's Samakhiyali facility and its hybrid wind and solar power plant.
The company also proposes to use ₹7.70 crore for repayment or prepayment of certain borrowings.

German Green Steel Financial Performance

Restated Consolidated Financials

German Green Steel reported continued growth in its financial performance. Total income increased from ₹1,517.21 crore in FY25 to ₹1,685.38 crore in FY26, representing approximately 11% growth.
PAT increased from ₹59.94 crore to ₹79.89 crore, while EBITDA rose from ₹116.81 crore to ₹166.96 crore.
The company's total borrowing declined from ₹347.86 crore in FY25 to ₹334.37 crore in FY26, while net worth increased substantially to ₹421.55 crore.

Key Financial Ratios

The company reported an FY26 ROE of 18.86% and ROCE of 19.31%. The EBITDA margin stood at 9.94%, while PAT margin was 4.76%.

German Green Steel IPO Valuation

Based on the supplied valuation data, the post-IPO P/E is 13.11x. Promoter holding is expected to decline from 96.63% before the IPO to 68.54% after the issue.

Promoter Holding

The promoters of German Green Steel and Power Limited are:

• Inamulhaq Shamsulhaq Iraki
• Abdulhaq Shamsulhaq Iraki
• Ibrarulhaq Inamulhaq Iraki

The supplied IPO data indicates promoter holding will reduce from 96.63% pre-IPO to 68.54% post-IPO.

German Green Steel Peer Comparison

German Green Steel's supplied RoNW of 18.86% is close to the levels reported by some established peers, while its IPO valuation needs to be considered alongside its scale, earnings, debt position and planned capital expenditure.

Risks Investors Should Consider

• The company operates in a cyclical and competitive steel industry.
• Steel prices and raw material costs can affect margins.
• A substantial portion of the IPO proceeds is earmarked for capital expenditure, making execution important.
• The company has significant borrowings despite a reduction in FY26.
• Demand is linked substantially to construction and infrastructure activity.
• Expansion of manufacturing and renewable power infrastructure carries execution risks.
• Competition from established steel manufacturers could affect pricing and market share.

Should You Invest in German Green Steel IPO?

German Green Steel offers exposure to the steel manufacturing sector through TMT bars, MS billets and sponge iron, with an established presence in Gujarat. Its vertically integrated operations, dealer network and German TMT brand provide an existing operating base.

The company's financial performance has also improved. FY26 revenue increased by around 11%, while PAT rose by approximately 33%. EBITDA increased from ₹116.81 crore to ₹166.96 crore, and net worth rose to ₹421.55 crore.

The latest available GMP as of 22 September 2026 is ₹0, the indicative listing price based on the current GMP is ₹139.

The IPO proceeds are largely intended for capital expenditure at the Samakhiyali manufacturing facility and a hybrid wind and solar power plant. This could support capacity and operational expansion, but it also makes successful project execution an important factor.

Investors should assess the company's earnings growth, steel-sector cyclicality, debt position, proposed capital expenditure, valuation and competitive environment before making an investment decision.

German Green Steel IPO Allotment Status

The basis of allotment is expected on 30 September 2026.

Refunds are scheduled to begin on 1 October 2026, with shares expected to be credited to successful applicants' demat accounts on the same date.

Investors can check their allotment status through the IPO registrar after the allotment process is completed.

German Green Steel IPO Registrar

• Bigshare Services Pvt. Ltd.
• Ahura Centre, Pinnacle Business Park, Mahakali Caves Road, Shanti Nagar, Andheri East, Mumbai
• Website: https://ipo.bigshareonline.com/IPO_Status.html
• Phone: 8657578989 / 8069219065 / 8069219060
• Email: ipo@bigshareonline.com

German Green Steel IPO Lead Managers

The book-running lead managers are:

• Systematix Corporate Services Ltd.
• Pantomath Capital Advisors Pvt. Ltd.
• Emkay Global Financial Services Ltd.

German Green Steel Company Details

• German Green Steel & Power Ltd.
• German House, Near Bharat Petrol Pump, Opp. Kochrab Ashram, Paldi, Ahmedabad, Gujarat – 380007
• Website: https://www.germansteel.in/
• Phone: 9723555100
• Email: secretarial@germansteel.in

German Green Steel IPO Summary

German Green Steel IPO is a ₹303.90 crore book-built issue comprising a ₹290 crore fresh issue and ₹13.90 crore Offer for Sale. The IPO will open on 25 September and close on 29 September 2026, with a price band of ₹132–₹139 per share and a lot size of 107 shares. 

The company manufactures TMT bars, MS billets and sponge iron under its German TMT brand and operates manufacturing facilities in Gujarat. Its total income increased from ₹1,517.21 crore in FY25 to ₹1,685.38 crore in FY26, while PAT increased from ₹59.94 crore to ₹79.89 crore. The company plans to use ₹226.33 crore for capital expenditure and ₹7.70 crore for repayment or prepayment of borrowings.

The latest available GMP as of 22 September 2026 is ₹0.

German Green Steel IPO FAQs

When will German Green Steel IPO open?

The IPO will open on 25 September 2026.

When will German Green Steel IPO close?

The IPO will close on 29 September 2026.

What is the German Green Steel IPO price band?

The price band is ₹132–₹139 per share.

What is the German Green Steel IPO lot size?

The lot size is 107 shares, requiring ₹14,873 at the upper price band.

What is the German Green Steel IPO issue size?

The total issue size is ₹303.90 crore, comprising a ₹290 crore fresh issue and ₹13.90 crore OFS.

What is the German Green Steel IPO GMP today?

As of 22 September 2026, the available GMP is ₹0.

Is German Green Steel profitable?

Yes. The company reported a consolidated PAT of ₹79.89 crore in FY26.

When will German Green Steel IPO be listed?

The shares are scheduled to list on 5 October 2026 on BSE and NSE.

Who is the registrar of German Green Steel IPO?

Bigshare Services Pvt. Ltd. is the registrar.

Disclaimer

The information presented above is based on the IPO data supplied for German Green Steel as of 22 September 2026. IPO details, GMP and subscription figures may change. Grey market premium is unofficial and should not be considered a guarantee of listing performance. Investors should review the company's offer documents and financial information before making investment decisions.
 

Author: Komal Bhatt

Komal Bhatt is a finance content writer at InvestKraft, specialising in well-researched articles on financial products, stock markets, and investment opportunities, with a particular focus on unlisted shares.

She holds a Master’s degree in Commerce from the University of Delhi, which gives her a solid academic foundation in finance and business. With over three years of hands-on experience in creating digital finance content, Komal has developed a clear understanding of investor needs through her work on wealth management, NISM certification programs, and market education materials.

Komal is passionate when it comes to breaking down complex financial concepts into simple, accurate and actionable insights. Her goal is to help everyday investors understand markets better and make more informed decisions based on reliable, research-backed information.