German Green Steel IPO
Day 1 of 5 of bidding · Sept 25, 2026
German Green Steel IPO is on Day 1 of 5 of its subscription window. The latest grey market premium is Rs 29.5 (21.2% over issue price), up Rs 1.5 from previous. Total subscription stands at 0.4x (QIB 0.24x, NII 0.41x, Retail 0.5x). Bidding closes on Sept 29, 2026 (in 4 days).
Last updated:Market Sentiment
IPO Details
Market Lot Size
IPO Reservation
Return Estimator (GMP*)
Allotment Chances
Financial Analysis
| Metric | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 1,137.54 | 1,517.21 | 1,685.38 |
| Expense | 1,082.15 | 1,438.16 | 1,575.57 |
| Profit (PAT) | 41.67 | 59.94 | 79.89 |
| Total Assets | 559.73 | 1,015.20 | 1,220.24 |
| Company | EPS | P/E | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Beekay Steel Industries Ltd | 18.94 | 22.54 | 3.49 | 548.18 | 1,196.94 Cr |
| Gallant Ispat Limited | 20.07 | 27.80 | 14.60 | 137.44 | 4,478.52 Cr |
| Kamdhenu Limited | 2.78 | 14.57 | 19.77 | 14.06 | 774.70 Cr |
| MSP Steel & Power Limited | 0.60 | 61.57 | 3.28 | 18.18 | 2,846.04 Cr |
| VMS TMT Limited | 4.95 | 8.92 | 9.22 | 45.97 | 840.20 Cr |
Promoters: Inamulhaq Shamsulhaq Iraki, Abdulhaq Shamsulhaq Iraki and Ibrarulhaq Inamulhaq Iraki
Strengths & Risks
- Strong grey-market premium — +21% over the issue price.
- Grey-market premium is trending up during the bidding window.
- Strong return on equity — 19%.
- Mostly fresh capital — proceeds fund the company's growth, not an exit.
Risk signals for German Green Steel will appear here as subscription, valuation and GMP data arrive. Always read the company-specific risk factors in the RHP before you apply.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
German Green Steel and Power, founded in 2008, is one of the leading iron and steel manufacturers with a strong presence in Gujarat. Its product range includes TMT Bars, MS Billets, and Sponge Iron, with TMT bar. The firm mainly sells its products on a B2B basis. Its three main types of customers are Distributors, Dealers, and Institutional customers. Moreover, the brand German TMT has maintained its strong presence in TMT Bars in Gujarat. German Green operates 2 manufacturing facilities: one is located in Ahmedabad, Gujarat, and the Samakhiyali Facility is situated close to ports in Gujarat. Furthermore, the firm is planning to expand the existing installed TMT Bars production capacity at the Samakhiyali Facility from 181,500 MTPA to 346,500 MTPA.
German Green Steel & Power Ltd., German House, Near Bharat Petrol Pump,, Opp. Kochrab Ashram,, Paldi, Ahmedabad, Gujarat, 380007
| Purpose | Amount (Cr) |
|---|---|
| Funding the capital expenditure requirements of its manufacturing facility at Samakhiyali, Kutch, Gujarat and hybrid wind and solar power plant | 226.33 |
| Prepayment or re-payment, in full or in part, of certain outstanding borrowings availed by the Company | 7.70 |
| General Corporate Purposes | - |
Resources & Documents
German Green Steel has set a price band of Rs 132–Rs 139 per share for an issue size of Rs 304 crore. The Mainboard issue is currently open for subscription and closes in 4 days on September 29, 2026.
German Green Steel and Power, founded in 2008, is one of the leading iron and steel manufacturers with a strong presence in Gujarat. Its product range includes TMT Bars, MS Billets, and Sponge Iron, with TMT bar.
The issue is promoted by Inamulhaq Shamsulhaq Iraki, Abdulhaq Shamsulhaq Iraki and Ibrarulhaq Inamulhaq Iraki with Systematix Corporate Services Ltd., Emkay Global Financial Services Ltd., Pantomath Capital Advisors Pvt.Ltd. acting as lead manager. Net proceeds will primarily be used towards Funding the capital expenditure requirements of its manufacturing facility at Samakhiyali, Kutch, Gujarat and hybrid win… (Rs 226 crore) and Prepayment or re-payment, in full or in part, of certain outstanding borrowings availed by the Company (Rs 8 crore).
Grey market is quoting a premium of +Rs 29.5 (+21.2% over issue price), up Rs 11 from the previous session. Live demand data shows overall subscription at 0.40x, retail at 0.50x, QIB at 0.24x, NII at 0.41x.
On fundamentals, the company is posting revenue growth of 11.1%, a profit margin of 4.7%, return on equity of 18.9% in its most recent reported period. Listed peers in this segment include Beekay Steel Industries Ltd (P/E 22.54x) and Gallant Ispat Limited (P/E 27.80x) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
Our data-driven engine currently flags this issue as a Neutral stance — the data is mixed and the risk-reward is balanced rather than one-sided. All figures below — GMP history, subscription tiers, financials and peers — are aggregated from public disclosures. Always apply through your own broker after reading the RHP.
German Green Steel IPO GMP — What It Means
The latest grey market premium for German Green Steel IPO is ₹30 (+21.2%). GMP is an unofficial, dealer-quoted figure that hints at expected listing-day demand — it is not a guaranteed listing price. For German Green Steel it should be read alongside the subscription numbers and the company's fundamentals, since grey-market premiums can swing sharply during the bidding window.
See the full German Green Steel GMP history and trend, or learn how grey market premium works and how reliable it is.
Related IPO
No comments yet. Be the first to share your opinion!