IPO details · Updated
German Green Steel
- Price Band
- ₹132 – ₹139
- Lot Size
- 107 shares
- Min. Investment
- ₹14,873
- Issue Size
- ₹303.9 Cr
- Offer Dates
- 25 Sept – 29 Sept 2026
- Listing
- 5 Oct 2026
Issue Details
- Total Issue Size
- ₹303.9 Cr
- 2,18,63,309 shares
- Fresh Issue
- ₹290 Cr
- 2,08,63,309 shares
- Offer for Sale
- ₹13.9 Cr
- 10,00,000 shares
- Face Value
- ₹10 per share
- Issue Type
- Book-built IPO
- Listing At
- NSE, BSE
- Shares Pre-Issue
- 5,44,85,888
- Shares Post-Issue
- 7,53,49,197
IPO Timeline
Offer opens
25 Sept 2026
Offer closes
29 Sept 2026
Allotment
30 Sept 2026
Listing
5 Oct 2026
Subscription Status
Times subscribed by investor category
| Category | Offered | Bids | Subscribed |
|---|---|---|---|
| QIB | 45,78,030 | 9,58,05,874 | 20.93x |
| NII | 34,45,455 | 18,61,64,592 | 54.03x |
| HNIs 2+ | 22,96,970 | 12,41,43,647 | 54.05x |
| HNIs 10+ | 11,48,485 | 6,20,20,945 | 54.00x |
| Retail | 80,39,394 | 18,35,23,725 | 22.83x |
| Total | 1,60,62,879 | 46,54,94,191 | 28.98x |
Application-wise breakup(approx. no. of applications)
| Category | Max allottees | Applied | Times |
|---|---|---|---|
| HNIs 2+ | 1,533 | 17,062 | 11.13x |
| HNIs 10+ | 767 | 41,403 | 53.98x |
| Retail | 75,135 | 17,15,175 | 22.83x |
| Total applications | 17,73,640 | ||
Counts applications, not shares — the table above counts shares, so the multiples differ. Estimated from bid quantities.
NSE & BSE · updated 29/9/2026, 6:55:15 pm
Lot Size & Investment
1 lot = 107 shares
Retail (min)
1 lot · 107 shares
Retail (max)
13 lots · 1,391 shares
S-HNI (min)
14 lots · 1,498 shares
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail | 1 | 107 | ₹14,873 |
| Small HNI (S-HNI) | 14 | 1,498 | ₹2,08,222 |
| Big HNI (B-HNI) | 68 | 7,276 | ₹10,11,364 |
Financial Performance
Restated figures in ₹ crore, unless stated otherwise
| Period | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| Assets | 1,220.24 | 1,015.2 | 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 & Surplus | 369.21 | 241.27 | 167.6 |
| Total Borrowing | 334.37 | 347.86 | 198.39 |
Key Performance Indicators
| Period | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS (₹) | 14.66 | 11.39 | 7.91 |
| P/E (pre-issue) | 9.48 | — | — |
| P/E (post-issue) | 13.11 | — | — |
About German Green Steel
The company was incorporated in July 2008 as Haq Enterprises, renamed Haq Steels and Metaliks in 2018, converted to a public limited company that year and took the name German Green Steel and Power in January 2024. It is a vertically integrated iron and steel manufacturer based in Gujarat, producing sponge iron, MS billets, TMT bars, cut-and-bend steel and binding wires. The group traces back to 1976, when it was established by Haji Shamsul Haq Iraki, with his sons Inamulhaq Iraki and Abdulhaq Iraki joining later. Products are sold largely into construction through a dealer network.
Company Information
Strengths (from RHP)
- Production runs from sponge iron through billets to finished TMT bars, so the company is not dependent on buying intermediate steel.
- An established dealer and distributor network across its market.
- The brand is well known in Gujarat's construction market.
Key risks (from RHP)
- Sales depend on dealers and distributors rather than direct customer relationships.
- Iron ore, coal and scrap costs move with commodity markets and are not controlled by the company.
- The secondary steel sector is highly competitive and price driven.
- Book running lead managers
- Systematix Corporate Services Limited
- Emkay Global Financial Services Limited and Pantomath Capital Advisors Private Limited
- Registered office
- German House, Near Bharat Petrol Pump, Opp. Kochrab Ashram, Paldi, Ahmedabad, Gujarat, 380007
Official Documents
Opens the source filing in a new tab
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Disclaimer: Data on OpenIPO is for information only and is not investment advice. OpenIPO is not a SEBI-registered entity. GMP figures are unofficial estimates and may change. Verify all details against the company RHP and the official registrar before investing.