German Green Steel & Power IPO Price: ₹132 to ₹139 per share
IPO Dates: 25 to 29 Sept, 2026
Company Overview
Incorporated in 2008, German Green Steel and Power Limited is an iron and steel manufacturer primarily operating in the western region of India, with a strong presence in Gujarat and a focus on TMX Bars. The Company predominantly operates on a business-to-business basis and serves three major types of customers: distributors, dealers and institutional customers. Its “German TMT” brand has established strong recognition for TMT Bars in Gujarat.
Product Portfolio
The Company’s product portfolio includes TMT Bars, MS Billets and Sponge Iron. Its TMT Bars are manufactured in sizes ranging from 8 mm to 40 mm.
Manufacturing Facilities
The Company operates two manufacturing facilities in Gujarat. The Samakhiyali Facility is vertically integrated, while the Viramgam Facility is operated through its material subsidiary, German TMX Private Limited.
The Company is currently expanding the installed capacity of Sponge Iron at its Samakhiyali Facility from 66,000 MTPA to approximately 1,48,500 MTPA. The MS Billets production capacity is being expanded from 2,14,500 TPA to 4,12,500 TPA, while the existing installed TMT Bars production capacity at the Samakhiyali Facility is being expanded from 181,500 MTPA to 346,500 MTPA.
The Company’s corporate and registered office is located in Ahmedabad, Gujarat, while the Samakhiyali Facility is situated close to ports in Gujarat.
Distribution Network & Customer Base
The Company’s business operations are predominantly conducted on a business-to-business basis, catering to distributors, dealers and institutional customers. During the nine months ended December 31, 2024, the majority of its sales were generated through a network of distributors and dealers.
These intermediaries supply the Company’s products to builders and contractors. The Company has an extensive distribution network in Gujarat supported by long-term customer relationships.
Workforce
As of March 31, 2026, the Company’s workforce comprised 1,357 employees. In addition, the Company utilised the services of 143 contract labourers.
Competitive Strengths
- Vertically integrated manufacturing setup, including captive power capacity
- Extensive distribution network in Gujarat with long-term customer relationships
- Experienced promoters supported by a strong management and execution team
- Strong brand recall driven by quality products
- Track record of growth in financial performance
Bidding Starts In
German Green Steel & Power Limited IPO Specifics:
| IPO Date | 25 to 29 Sep, 2026 |
| Listing Date | Mon, Oct 5, 2026T |
| Face Value | ₹10 per share |
| Price Band | ₹132 to ₹139 |
| Lot Size | 107 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,18,63,309 shares (agg. up to ₹304 Cr) |
| Fresh Issue | 2,08,63,309 shares (agg. up to ₹290 Cr) |
| Offer for Sale | 10,00,000 shares of ₹10 (agg. up to ₹14 Cr) |
| Share Holding Pre Issue | 5,44,85,888 shares |
| Share Holding Post Issue | 7,53,49,197 shares |
German Green Steel & Power IPO Timetable (Important Dates)
| Event | Date |
|---|---|
| IPO Open | Fri, Sep 25, 2026 |
| IPO Close | Tue, Sep 29, 2026 |
| Allotment | Wed, Sep 30, 2026 |
| Refund | Thu, Oct 1, 2026 |
| Credit of Shares | Thu, Oct 1, 2026 |
| Listing | Mon, Oct 5, 2026 |
German Green Steel & Power Limited IPO Lot Size
Bidders have the opportunity to bid for a minimum of 107 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 107 | ₹14,873 |
| Retail (Max) | 13 | 1391 | ₹1,93,349 |
| S-HNI (Min) | 14 | 1498 | ₹2,08,222 |
| S-HNI (Max) | 67 | 7169 | ₹9,96,491 |
| B-HNI (Min) | 68 | 7276 | ₹10,11,364 |
German Green Steel & Power Limited IPO Reservation
| Investor Category | Shares |
|---|---|
| QIB | Not more than 50% of the Offer |
| Retail | Not less than 35% of the Offer |
| NII | Not less than 15% of the Offer |
German Green Steel & Power Limited IPO Financial Information
| Particulars (₹ Cr) | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 1,220.24 | 1,015.20 | 559.73 |
| Total Income | 1,685.38 | 1,517.21 | 1,137.54 |
| Profit After Tax | 79.89 | 59.94 | 41.67 |
| EBITDA | 166.96 | 116.81 | 80.11 |
| NET Worth | 421.55 | 292.55 | 176.06 |
| Reserves and Surplus | 369.21 | 241.27 | 167.60 |
| Total Borrowing | 334.37 | 347.86 | 198.39 |
Key Performance Indicator- German Green Steel & Power Limited IPO
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 18.86% |
| ROCE | 19.31% |
| Debt/Equity | 0.79 |
| RoNW | 18.86% |
| PAT Margin | 4.76% |
| EBITDA Margin | 9.94% |
| NAV | 77.76 |
| Price to Book Value | 0.67 |
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 14.66 | 10.60 |
| P/E (x) | 9.48 | 13.11 |
| Market Cap at Offer Price | ₹757.35 Cr. | ₹1,047.35 Cr |
Prospectus Links:
Prospectus: Official documents that provide detailed information about the IPO and the company.
German Green Steel & Power Limited IPO RHP
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