- Issue price
- ₹139per share
- Issue size
- ₹303.9 Cr2,18,63,309 shares
- Face value
- ₹10per equity share
- Lot size
- 107 sharesMin. ₹14,873 at the upper price
- Anchor biddingThu, 2026
- OpensFri, 2026
- ClosesTue, 2026
- AllotmentWed, 2026
- ListingMon, 2026
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue and offer for sale
- Fresh issue
- 2,08,63,309 shares (₹290 Cr)
- Offer for sale
- 10,00,000 shares (₹13.9 Cr)
- Total issue
- 2,18,63,309 shares (₹303.9 Cr)
- Face value
- ₹10
- Listing at
- NSE, BSE
Source: ProspectusUpdated
Reservation
Share of the total issue- Retail35.0%
- Anchor30.0%
- QIB ex-anchor20.0%
- NII15.0%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 76,52,159 | 35.00% | 35% |
| Non-institutional investors (NII) | 32,79,497 | 15.00% | 15% |
| Qualified institutional buyers (QIB) | 1,09,31,653 | 50.00% | 50% |
| QIB, excluding anchor | 43,72,662 | 20.00% | — |
| Anchor investors | 65,58,991 | 30.00% | — |
Source: ProspectusUpdated
Lot size
Amounts at ₹139 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail individual investors | 1 | 107 | ₹14,873 |
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY2026, pre-issue- EPS (basic)
- ₹14.91
- EPS (diluted)
- ₹14.91
- P/E (At Cap Price, FY2026)
- 9.32×
- P/E (At Floor Price, FY2026)
- 8.85×
- RoNW
- 18.86%
- ROCE
- 19.31%
- NAV per share (As on March 31, 2026)
- ₹77.76
- NAV per share (At Offer Price)
- ₹94.72
- Debt to equity
- 0.79
- EBITDA margin
- 9.94%
- PAT margin
- 4.76%
Source: ProspectusUpdated
Financials
Consolidated, restated · ₹ crore| Period ended | 31 Mar 202612 months | 31 Mar 202512 months | 31 Mar 202412 months |
|---|---|---|---|
| Revenue from operations | 1,678.98 | 1,507.57 | 1,129.78 |
| Total income | 1,685.38 | 1,517.21 | 1,137.54 |
| EBITDA | 166.96 | 116.81 | 79.33 |
| Profit after tax | 79.89 | 59.94 | 41.67 |
| Net worth | 421.55 | 292.55 | 176.06 |
| Reserves and surplus | 367.06 | 239.90 | 167.60 |
| Total assets | 1,220.24 | 1,015.20 | 559.73 |
12 months vs 12 months: revenue +11.4%, profit after tax +33.3%.
Source: ProspectusUpdated
About the company
The company is a vertically integrated iron and steel manufacturer focused mainly on TMT bars, with products also including MS billets and sponge iron. It operates two manufacturing facilities in Gujarat, with its Samakhiyali facility supported by captive coal-based, waste heat and hybrid wind-solar power plants.
- Incorporated
- 2008
- Industry
- Steel
- CIN
- U27100GJ2008PLC054437
- Website
- germansteel.in
Source: ProspectusUpdated
Promoters and shareholders
| Name | Before issue | After issue | Shares offered |
|---|---|---|---|
| Inamulhaq Shamsulhaq Iraki | 40.91% | — | 5,00,000 |
| Abdulhaq Shamsulhaq Iraki | 39.42% | — | 5,00,000 |
| Ibrarulhaq Inamulhaq Iraki | 0.95% | — | — |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Capital expenditure for expansion of the Samakhiyali manufacturing facility and a hybrid wind and solar power plant | 226.33 |
| Prepayment or repayment of certain outstanding borrowings | 7.70 |
| General corporate purposes | 29.50 |
Source: ProspectusUpdated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| German Green Steel and Power LimitedIssuer | ₹14.91 | 9.32× | 18.86% | ₹77.76 |
| Beekay Steel Industries Ltd | ₹18.94 | 22.54× | 3.49% | ₹548.18 |
| Gallant Ispat Limited | ₹20.07 | 27.80× | 14.60% | ₹137.44 |
| Kamdhenu Limited | ₹2.78 | 14.57× | 19.77% | ₹14.06 |
| MSP Steel & Power Limited | ₹0.6 | 61.57× | 3.28% | ₹18.18 |
| VMS TMT Limited | ₹4.95 | 8.92× | 9.22% | ₹45.97 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Vertically integrated operations from sponge iron and billets to TMT bars, with captive power supply.
- Extensive distribution network in Gujarat supported by long-standing customer relationships.
- Revenue and profit have grown across the last three fiscal years.
- Experienced promoters and a management team leading execution.
- Strong brand recall tied to product quality and green steel ratings.
Risks
- A large share of revenue comes from a small set of top customers, with the top 10 providing about 50.6% in FY2026.
- Heavy reliance on dealers and distributors to reach end customers.
- Substantial capital expenditure is planned from net proceeds, and some capex orders are not yet placed.
- Project funding and deployment estimates have not been appraised by any bank or financial institution.
- No prior public market exists for the shares, so the price after listing may be volatile.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹139) appear here after the shares list on NSE and BSE.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the German Green Steel and Power IPO open and close?
According to the Prospectus, the issue opens on Friday, 25 September 2026 and closes on Tuesday, 29 September 2026.
What is the German Green Steel and Power IPO price band?
The final issue price is ₹139 per share.
What is the lot size of the German Green Steel and Power IPO?
One lot is 107 shares, which is ₹14,873 at ₹139 per share.
Where will German Green Steel and Power shares list?
On NSE and BSE. The tentative listing date is Monday, 5 October 2026.
Who is the registrar of the issue?
Bigshare Services Private Limited (SEBI registration INR000001385). Allotment status is checked on the registrar's website.
How do I check the German Green Steel and Power IPO allotment status?
The basis of allotment is expected to be finalised on Wednesday, 30 September 2026. After that, search by PAN, application number or DP/client ID on the registrar's website (Bigshare Services Private Limited), the NSE website or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹226.33 Cr for capital expenditure for expansion of the Samakhiyali manufacturing facility and a hybrid wind and solar power plant, ₹7.7 Cr for prepayment or repayment of certain outstanding borrowings, ₹29.5 Cr for general corporate purposes.
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Spotted something wrong?
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