German Green Steel IPO Date & Timeline
Tentative schedule from the RHP.
German Green Steel IPO GMP Today
Unofficial, aggregated from market sources. It never feeds our score.
Full GMP history (32 updates)
| Date & time (IST) | GMP | Change | GMP % | Est. listing |
|---|---|---|---|---|
| Oct 2, 2026 · 12:45 PM | ₹12 | ₹0 | 8.6% | ₹151 |
| Oct 2, 2026 · 8:45 AM | ₹12 | ₹0 | 8.6% | ₹151 |
| Oct 1, 2026 · 2:45 PM | ₹12 | ₹0 | 8.6% | ₹151 |
| Oct 1, 2026 · 11:45 AM | ₹12 | ₹0 | 8.6% | ₹151 |
| Oct 1, 2026 · 8:00 AM | ₹12 | ₹0 | 8.6% | ₹151 |
| Sep 30, 2026 · 2:15 PM | ₹12 | ₹0 | 8.6% | ₹151 |
| Sep 30, 2026 · 7:00 AM | ₹12 | ₹0 | 8.6% | ₹151 |
| Sep 29, 2026 · 8:00 PM | ₹12 | ₹0 | 8.6% | ₹151 |
| Sep 29, 2026 · 4:00 PM | ₹12 | −₹2 | 8.6% | ₹151 |
| Sep 29, 2026 · 1:45 PM | ₹14 | −₹4 | 10.1% | ₹153 |
| Sep 29, 2026 · 10:45 AM | ₹18 | −₹1 | 12.9% | ₹157 |
| Sep 29, 2026 · 8:30 AM | ₹19 | ₹0 | 13.7% | ₹158 |
| Sep 28, 2026 · 10:00 PM | ₹19 | −₹1 | 13.7% | ₹158 |
| Sep 28, 2026 · 9:30 PM | ₹20 | −₹1 | 14.4% | ₹159 |
| Sep 28, 2026 · 9:00 PM | ₹21 | ₹0 | 15.1% | ₹160 |
| Sep 28, 2026 · 5:00 PM | ₹21 | ₹0 | 15.1% | ₹160 |
| Sep 28, 2026 · 11:15 AM | ₹21 | ₹0 | 15.1% | ₹160 |
| Sep 27, 2026 · 11:59 PM | ₹21 | +₹1 | 15.1% | ₹160 |
| Sep 26, 2026 · 11:59 PM | ₹20 | ₹0 | 14.4% | ₹159 |
| Sep 25, 2026 · 2:00 PM | ₹20 | +₹2 | 14.4% | ₹159 |
| Sep 25, 2026 · 11:15 AM | ₹18 | ₹0 | 12.9% | ₹157 |
| Sep 25, 2026 · 9:30 AM | ₹18 | ₹0 | 12.9% | ₹157 |
| Sep 24, 2026 · 11:59 PM | ₹18 | ₹0 | 12.9% | ₹157 |
| Sep 24, 2026 · 6:15 PM | ₹18 | ₹0 | 12.9% | ₹157 |
| Sep 24, 2026 · 6:00 AM | ₹18 | +₹2 | 12.9% | ₹157 |
| Sep 23, 2026 · 11:59 PM | ₹16 | ₹0 | 11.5% | ₹155 |
| Sep 23, 2026 · 8:00 PM | ₹16 | +₹1 | 11.5% | ₹155 |
| Sep 23, 2026 · 7:00 PM | ₹15 | +₹1 | 10.8% | ₹154 |
| Sep 23, 2026 · 11:00 AM | ₹14 | ₹0 | 10.1% | ₹153 |
| Sep 23, 2026 · 6:30 AM | ₹14 | ₹0 | 10.1% | ₹153 |
| Sep 22, 2026 · 11:59 PM | ₹14 | ₹0 | 10.1% | ₹153 |
| Sep 22, 2026 · 3:30 PM | ₹14 | — | 10.1% | ₹153 |
German Green Steel IPO Subscription Status
From NSE + BSE bid data, excluding the anchor portion.
Day-wise subscription
| Day | QIB | bHNI | sHNI | NII total | Retail | Total |
|---|---|---|---|---|---|---|
| Shares offered | 43,72,664 | 21,87,080 | 10,93,540 | 32,79,496 | 76,52,158 | 1,53,04,318 |
| Day 1 · Sep 25 | 1.39× | 2.65× | 2.45× | 2.59× | 1.73× | 1.82× |
| Day 2 · Sep 28 | 1.40× | 6.82× | 11.01× | 8.22× | 6.46× | 5.39× |
| Day 3 · Sep 29 | 21.91× | 56.78× | 56.73× | 56.77× | 23.98× | 30.42× |
German Green Steel IPO Details
Checked against the RHP and cross-checked on NSE and BSE.
| IPO date | Sep 25 – 29, 2026 |
| Price band | ₹132 – 139 per share |
| Face value | ₹10 per share |
| Lot size | 107 shares |
| Total issue size | 2,18,63,309 shares ₹303.90 Cr |
| Fresh issue | 2,08,63,309 shares ₹290.00 Cr |
| Offer for sale | 10,00,000 shares ₹13.90 Cr |
| Issue type | Book Built · Mainboard |
| Listing at | BSE, NSE |
| Market cap | ≈ ₹1,047.35 Cr |
| Promoter holding | 96.63% → 68.54% |
| Lead managers | Systematix Corporate Services Ltd., Emkay Global Financial Services Ltd., Pantomath Capital Advisors Pvt. Ltd. |
| Registrar | Bigshare Services Pvt. Ltd. |
Offer documents
German Green Steel IPO Lot Size
Minimum and maximum bids by investor type at the upper band of ₹139.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 107 | ₹14,873 |
| Retail (max) | 13 | 1,391 | ₹1,93,349 |
| sHNI (min) | 14 | 1,498 | ₹2,08,222 |
| sHNI (max) | 67 | 7,169 | ₹9,96,491 |
| bHNI (min) | 68 | 7,276 | ₹10,11,364 |
German Green Steel IPO Reservation
Shares set aside for each category, and the maximum number of applicants who can get an allotment.
| Category | Shares offered | % of issue | Max. allottees |
|---|---|---|---|
| Anchor investors | 65,58,991 | 30% | — |
| QIB (ex-anchor) | 43,72,664 | 20% | — |
| NII (HNI) | 32,79,496 | 15% | — |
| ↳ bHNI (>₹10L) | 21,87,080 | 10% | 1,460 |
| ↳ sHNI (₹2–10L) | 10,93,540 | 5% | 730 |
| Retail | 76,52,158 | 35% | 71,515 |
| Total | 2,18,63,309 | 100% |
German Green Steel Financials (FY24 – FY26)
Restated consolidated figures from the RHP, ₹ crore. Years end March 31.
Financial statement
| ₹ Cr | FY24 | FY25 | FY26 | YoY |
|---|---|---|---|---|
| Revenue | 1,137.54 | 1,517.21 | 1,685.38 | +11.1% |
| EBITDA | 80.11 | 116.81 | 166.96 | +42.9% |
| Profit after tax | 41.67 | 59.94 | 79.89 | +33.3% |
| Total assets | 559.73 | 1,015.20 | 1,220.24 | +20.2% |
| Net worth | — | 292.55 | 421.55 | +44.1% |
| Reserves & surplus | — | 241.27 | 369.21 | +53.0% |
| Total borrowing | — | 347.86 | 334.37 | −3.9% ✓ |
German Green Steel IPO Valuation & Peer Comparison
At the upper band of ₹139. Peers from the RHP "Basis for Offer Price".
Peer comparison
| Company | P/E | P/B | RoNW |
|---|---|---|---|
| German Green Steel | 13.1× | 1.79× | 18.86% |
| Kamdhenu | 14.6× | — | 19.77% |
| Beekay Steel Industries | 22.5× | — | 3.49% |
| Gallant Ispat | 27.8× | — | 14.60% |
About German Green Steel
Business profile from the RHP.
- 2008Incorporated · Ahmedabad, Gujarat
- 2 plantsSamakhiyali (Kutch) & Viramgam, Gujarat
- 8–40 mmTMT bar range, sold as German TMT
Promoters & holding
Inamulhaq Shamsulhaq Iraki, Abdulhaq Shamsulhaq Iraki, Ibrarulhaq Inamulhaq Iraki
Objects of the issue
Anchor investors
Allotted Sep 24, 2026 · 65,58,991 shares. Participants include Necta Bloom VCC – Necta Bloom One, Lords Multigrowth Fund, Zeal Global Opportunities Fund, Compact Structure Fund, Venus Investments VCC and Arnesta Global Opportunities Fund PCC.
German Green Steel IPO Review: Should You Apply?
Our 100-point score, and both sides of the case.
Our view: Steady growth, improving margins, ~19% RoE and a price below listed steel peers are the positives. Against that: a regional, cyclical commodity business with thin margins, a big capex plan, and an anchor book made up only of small offshore and alternative funds.
- Profit grew ~33% in FY26 to ₹79.9 Cr on ~11% revenue growth, with EBITDA margin up to ~10%.
- Priced below listed peers at ~13× post-issue earnings and ~1.8× book.
- Integrated Samakhiyali plant (sponge iron → billets → TMT) near Gujarat ports, plus a known regional brand.
- Planned hybrid wind-solar plant could lower power costs over time.
- Healthy returns: ~19% RoE and RoCE.
- Steel is cyclical: iron ore, coal and TMT prices can swing profits sharply.
- Thin net margin (~4.8%) and a concentrated regional market (mainly Gujarat).
- Most proceeds (₹226 Cr) go to new capex, so the benefit depends on smooth execution.
- Anchor book (₹91 Cr) came only from six small offshore/alternative funds, with no domestic mutual funds or insurers.
- Promoter holding falls to ~69% from ~97%; sources disagree on P/B, so check the RHP.
German Green Steel Listing Performance Updates after Oct 5
We close the loop: issue vs listing price, and whether our call was right.
German Green Steel IPO Allotment Status & Contact Details
Allotment was finalised on Sep 30. Check it with your PAN or application number.
Bigshare Services Pvt. Ltd.
- Phone
- 8657578989 / 8069219065 / 8069219060
- ipo@bigshareonline.com
German Green Steel and Power Ltd.
- Address
- German House, Near Bharat Petrol Pump, Opp. Kochrab Ashram, Paldi, Ahmedabad, Gujarat 380007
- Phone
- 9723555100
- secretarial@germansteel.in
- Website
- germansteel.in
German Green Steel IPO FAQs
GMP, price, lot size, dates, allotment and how to apply.
What is German Green Steel IPO?
German Green Steel IPO is a ₹303.90 Cr Mainboard book built issue made up of a fresh issue of ₹290.00 Cr and an offer for sale of ₹13.90 Cr. The shares will list on BSE and NSE.
What is German Green Steel IPO GMP today?
As of Oct 2 · 12:45 PM IST, the grey market premium is ₹12 (≈8.6%), implying an estimated listing price of about ₹151. The GMP has ranged ₹12 – 21 since Sep 22. GMP is unofficial and not a guarantee of the listing price.
What is the price band of German Green Steel IPO?
The price band is ₹132 – ₹139 per equity share of face value ₹10.
What is the lot size of German Green Steel IPO?
The minimum lot is 107 shares. Retail investors can apply for 1 to 13 lots (107 to 1,391 shares).
What is the minimum investment for German Green Steel IPO?
The minimum retail investment is ₹14,873 (107 shares at ₹139). The maximum retail application is ₹1,93,349 (13 lots).
When does German Green Steel IPO open and close?
The IPO opens on Sep 25, 2026 and closes on Sep 29, 2026.
What is the allotment date of German Green Steel IPO?
The basis of allotment is finalised on Sep 30, 2026. Refunds and demat credit were on Oct 1, 2026.
When will German Green Steel IPO be listed?
The tentative listing date is Oct 5, 2026 on BSE and NSE.
What is German Green Steel IPO subscription status?
At close (Sep 29 · 5:00 PM IST), the issue was subscribed 30.42× overall — QIB 21.91×, bHNI 56.78×, sHNI 56.73×, Retail 23.98×.
What is the P/E ratio and valuation of German Green Steel IPO?
At the upper band, the P/E is 9.5× pre-issue and 13.1× post-issue, with a market cap of about ₹1,047.35 Cr. Listed peers include Kamdhenu (14.6×) and Beekay Steel Industries (22.5×).
Should I apply for German Green Steel IPO?
IPOSignal's view is Proceed with Caution · Reasonably Priced (69/100). Steady growth, improving margins, ~19% RoE and a price below listed steel peers are the positives. Against that: a regional, cyclical commodity business with thin margins, a big capex plan, and an anchor book made up only of small offshore and alternative funds. This is research, not investment advice.
How to check German Green Steel IPO allotment status?
Check on the registrar Bigshare Services Pvt. Ltd.'s site (ipo.bigshareonline.com/IPO_Status.html), or on the BSE / NSE allotment pages, using your PAN or application number.
Who is the registrar and lead manager of German Green Steel IPO?
The registrar is Bigshare Services Pvt. Ltd.. The book-running lead managers are Systematix Corporate Services Ltd., Emkay Global Financial Services Ltd. and Pantomath Capital Advisors Pvt. Ltd..