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HomeIPOGerman Green Steel Power

About German Green Steel Power

Incorporated in 2008, German Green Steel and Power Limited is one of the iron and steel manufacturing companies that mainly operate in Western India, especially in Gujarat, specializing in TMX Bars.German Green Steel and Power Limited currently runs two plants in Gujarat, namely Samakhiyali plant (vertically integrated) and Viramgam plant run by its materials subsidiary named German TMX Private Limited. There are three categories of products offered by the company, which include TMT Bars, MS Billets, and Sponge Iron. TMT bar manufacturing capacity lies within 8 mm to 40 mm. Corporate headquarters as well as registered office of the company is based in Ahmedabad, Gujarat, while Samakhiyali Plant is situated near Gujarat Ports. For the period of September 2024 to December 2024, the sales made were made mainly through a network of distributors and dealers. Business is mainly carried out in the business-to-business environment and the business deals are targeted to three types of customers, i.e., distributors, dealers, and institutional customers. Such intermediaries supply their goods to builders and contractors. German TMT is a renowned brand name for TMT bars in Gujarat.

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National Stock Exchange of India logo

National Stock Exchange of India

Mainboard
Open  Close17th Sep 2026 - 21st Sep 2026
Issue Size22561.57 Cr
Min. Qty8 Shares
Issue Price₹ 1700.00
Live IPO
Antala Industries logo

Antala Industries

SME
Open  Close29th Oct 2026 - 5th Nov 2026
Issue Size22.98 Cr
Min. Qty2000 Shares
Issue Price₹ 62.00
Live IPO
Companies NameOpen - CloseIssue SizeMin. QtyIssue PriceApply
National Stock Exchange of India logo

National Stock Exchange of India

Mainboard
17th Sep 2026 - 21st Sep 202622561.57 Cr8 Shares₹ 1700.00
Antala Industries logo

Antala Industries

SME
29th Oct 2026 - 5th Nov 202622.98 Cr2000 Shares₹ 62.00
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German Green Steel Power

German Green Steel Power

Open Date

Sep 25, 2026

Close Date

Sep 29, 2026

listed

Min Investment

₹14,873

Lot Size

107 Shares

Issue Size

₹303.9 Cr

Price Range

₹132 - ₹132

Listing Date

Oct 5, 2026

IPO Doc

RHP PDF

Company Valuation

Earning Expansion

The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily.

₹9(+6.83%)GMP
6.47%Prediction Listing Gain

Grey Market Premium (GMP) Trend

German Green Steel Power IPO - Issue Objectives

The company will spend ₹226.33 cr on expanding its Gujarat plant and power unit. The company will utilise ₹7.69 crore to repay certain outstanding borrowings availed by the company Part of the IPO proceeds will be used for general corporate purposes and issue expenses.

Capital expenditure

78%

Repayment of loan

2.6%

General corporate purposes

19.3%

1

Capital expenditure

The company will spend ₹226.33 cr on expanding its Gujarat plant and power unit.

78.00%
2

Repayment of loan

The company will utilise ₹7.69 crore to repay certain outstanding borrowings availed by the company

2.60%
3

General corporate purposes

Part of the IPO proceeds will be used for general corporate purposes and issue expenses.

19.30%

IPO Subscription Status

QIB
21.91x
NII
56.77x
Individual
23.98x
Total
30.42x

Times subscribed by category (bars capped at 10x for readability). Dashed line marks 1.0x (fully subscribed).

Financials of German Green Steel Power

In Cr.

About Strength & Risks

Why this IPO looks interesting

Key positives investors may want to consider before applying.

01

Integrated manufacturing platform

Sponge iron, billet and TMT production at Samakhiyali, supported by captive power and renewable assets, provides operating control across major stages of the value chain.

02

Maximum utilisation and potential for growth

Utilisation of sponge iron in FY26 stood at 95.21%, whereas that of TMT bars stood at 87.79%. The future expansion would provide considerable growth in upstream, rolling, and value-added capacity.

03

Strong business-to-business distribution network

The company has 12 distributors, 148 dealers, and 343 institutional customers in FY26, with institutional customers making 41.53% of revenues.

04

What investors should watch closely

Risk factors and possible pressure points around the offer.

01

Customer Concentration

The ten largest customers accounted for 50.62% of FY26 revenue, out of which the largest customer constituted 10.67%. Most sales are purchase order-driven instead of long-term contracts.

02

Raw Material Availability and Prices

Raw material purchases make up 82.77% of FY26 expenditure, while imported scrap and international coal price fluctuation causes volatility risks.

03

Contact Details

German Green Steel Power

German House, Near Bharat Petrol Pump, Opp. Kochrab Ashram, Paldi, Ahmedabad, Gujarat, 380007

9723555100
secretarial@germansteel.in
http://www.germansteel.in/

German Green Steel Power IPO - FAQs

German Green Steel Power IPO is a Mainboard IPO. The issue is priced at 132-₹139. The minimum order quantity is 107 Shares. The IPO opens on 25 Sep, and closes on 29 Sep. TBA is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

IPO Timeline

  • Pre Apply2026-09-24
  • Bidding Starts2026-09-25
  • Bidding Ends2026-09-29
  • Allotment Finalisation2026-09-30
  • Release of Funds2026-10-01
  • Demat Transfer2026-10-01
  • Listing2026-10-05

Product quality variety

Availability of 8-40 mm TMT bars, multiple strength grades, NABL testing, and cut-and-bend as well as epoxy-coated bars.

05

Exposure to infrastructure and organised housing

These are projected as the fastest-growing major TMT end-user segments, while the company is expanding TMT capacity and seeking institutional and neighbouring-state customers. Realisation of this opportunity remains execution-dependent.

Pricing Cycles and Competition

TMT, billet and sponge iron prices depend on the performance of the construction industry, costs of raw materials, imports, and capacities within the industry. The company is also up against some huge domestic and Gujarat players.

04

Regional Risk

The two production units are located in Gujarat, and FY26 revenue is generated by 97.74% in Gujarat itself. Any geographical risk or lack of planned expansion into adjacent regions can cause growth risks.

05

Leverage and Contingent Liabilities

Total debt of the company was ₹344.13 crore as of August 31, 2026. Contingent liabilities and commitments were ₹168.04 crore in FY26, from which income tax disputes were of ₹112.65 crore.