German Green Steel and Power Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹132 - ₹139
- Lot size
- 107 shares
- Issue amount
- ₹303.9 cr
- Total subscription
- 30.42×
- Opens
- 25 Sept 2026
- Closes
- 29 Sept 2026
- Allotment
- 30 Sept 2026
- Listing
- 5 Oct 2026
Offer at a glance
Issue overview
- Issue size
- 2,18,63,309 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹14,124
- Fresh issue
- ₹290 cr
- Offer for sale
- ₹13.9 cr
- Registrar
- Bigshare Services Private Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,873
- Issue type
- Bookbuilding IPO
- Shares before issue
- 5,44,85,888
- Shares after issue
- 7,53,49,197
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 107 | ₹14,873 |
| sHNI | 14 | 1,498 | ₹2,08,222 |
| bHNI | 68 | 7,276 | ₹10,11,364 |
Share reservation
Subscription & GMP
Subscription by category
Reported 29 Sept 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 71,515 | 15,51,626 |
| HNIs(10L +) | 1,460 | 16,766 |
| HNIs (2-10L) | 730 | 40,340 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 60.78 | 1,331.7 |
| RETAIL | 106.36 | 2,550.92 |
| HNIs 2+ | 15.19 | 862.07 |
| HNIs 10+ | 30.39 | 1,725.6 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS | 14.66 | 11.39 | 7.91 |
| ROE | 18.86 | 20.4 | 23.67 |
| ROCE | 19.31 | 15.91 | 18.62 |
| RONW | 0 | 0 | 0 |
| PRE IPO(PE) | 9.48 | 0 | 0 |
| POST IPO(PE) | 13.11 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| German Green Steel and Power Limited | 9.48 | 0 | 10.00 | 77.76 | 18.86 | 14.91 |
| Beekay Steel Industries Limited | 22.54 | 0 | 10.00 | 548.18 | 3.49 | 18.94 |
| Gallant Ispat Limited | 27.80 | 0 | 10.00 | 137.44 | 14.60 | 20.07 |
| Kamdhenu Limited | 14.57 | 0 | 1.00 | 14.06 | 19.77 | 2.78 |
| Msp Steel & Power Limited | 61.57 | 0 | 10.00 | 18.18 | 3.28 | 0.60 |
| Vms Tmt Limited | 8.92 | 0 | 10.00 | 45.97 | 9.22 | 4.95 |
Company information
Company profile
Founded in 2008, German Green Steel and Power Limited is an iron and steel manufacturing company mainly operating in western India, especially Gujarat, with a strong focus on TMT bars. The company runs two manufacturing units in Gujarat, including a fully integrated facility at Samakhiyali and another at Viramgam through its subsidiary. Its product range includes TMT bars, MS billets, and sponge iron, with TMT bars available in sizes from 8 mm to 40 mm. Most of its sales are done through a network of distributors and dealers, serving builders, contractors, and institutional clients on a B2B basis. The brand “German TMT” has built strong recognition in the Gujarat market, supported by consistent quality and ongoing innovation. The company also follows strict quality and safety standards, with certifications related to quality management, occupational health, and environmental practices.
Strengths
- Vertically Integrated Manufacturing: The company operates an integrated iron and steel manufacturing facility in Samakhiyali, covering the process from raw materials to finished TMT Bars, along with captive power generation.
- Wide Distribution Network: It has an extensive distribution network across Gujarat, including distributors, dealers and institutional customers, supported by established long-term customer relationships.
- Strong Brand & Product Quality: “German TMT” has built a strong presence in Gujarat as a TMT Bar brand, with a focus on quality and innovation. Its TMT Bars use Thermex quenching technology, which helps improve strength, ductility, bendability, weldability, fire resistance and corrosion resistance.
Risk factors
- Dependence on Dealers & Distributors: The company relies heavily on dealers and distributors to reach customers and sell its products. Any disruption, termination of arrangements or weak sales and marketing efforts could impact business and financial performance.
- Raw Material Supply & Price Risk: The company depends on third-party suppliers for key raw materials such as scrap, iron ore, coal, silico manganese and dolomite. Supply shortages or price fluctuations could increase costs and affect profitability.
- Intense Industry Competition: The company faces strong competition from national and regional steel manufacturers, along with rising production capacity in Gujarat and lower-priced imported steel, especially from China. This competition could put pressure on sales, margins and overall financial performance.
Promoters
Inamulhaq Shamsulhaq Iraki
Abdulhaq Shamsulhaq Iraki
Ibrarulhaq Inamulhaq Iraki
Registrar & documents
Lead manager
Systematix Corporate Services Limited, Emkay Global Financial Services Limited, Pantomath Capital Advisor Private Limited
Registrar & contacts
Bigshare Services Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
German House, Near Bharat Petrol Pump, Opp. Kochrab Ashram, Paldi Ahmedabad, Gujarat, 380007
9723555100
[email protected]Company website ↗Understanding GERMAN IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.