German Green Steel and Power Limited IPO
GERMAN · Mainboard · 25–29 Sep 2026 · archived record
Half market demand (GMP, subscription, institutional bids), half offer-document data (valuation, profit trend, fresh issue vs OFS, debt, promoters, sector). Missing inputs are left out, not guessed. Not an apply/avoid recommendation.
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No archived readings yet. Marketframe stores a reading every 15 minutes while an issue is live.
95% of the money goes to the company; the rest goes to shareholders selling their stake.
- ₹226.3 Cr: capex for a new facility plus a hybrid wind-solar power plant at Samakhiyali, Kutch (total project ₹348.1 Cr)
- ₹7.7 Cr: repay borrowings
- Up to 25%: general corporate purposes
- OFS of 10 lakh shares (about ₹13.9 Cr) goes to two promoters
Qualified institutional buyers are mutual funds, banks, insurers and foreign funds, and they read the full prospectus. They usually bid on the last day, so a low QIB number early in the window is normal. A low one at the close is not.
Promoter holding: 81.3% before the issue; about 57% after (our estimate at ₹139, as the RHP leaves it blank)
- Revenue: ₹1,129.8 Cr (FY24) → ₹1,507.6 Cr (FY25) → ₹1,679.0 Cr (FY26)
- Profit: ₹41.7 Cr → ₹59.9 Cr → ₹79.9 Cr
- PAT margin improved from 3.7% to 4.8%; EBITDA margin from 7.0% to 9.9%
- Debt/equity fell from 1.13 to 0.79
- About 9.3× FY26 earnings at ₹139 (EPS ₹14.91)
- The RHP's listed steel peers average 35× (lowest: VMS TMT at 8.9×)
- About 1.8× book value (NAV ₹77.76)
- Cheap against listed peers on P/E
- Profit roughly doubled in two years; debt is falling
- Heavy dilution: the fresh issue adds about 38% more shares
- Orders not yet placed for part of the capex the IPO funds
- RoNW fell from 23.7% (FY24) to 18.9% (FY26)
- Steel prices are cyclical; top 10 customers are 50.6% of revenue
- Received cease-and-desist notices over trademark use
- Makes TMT bars, MS billets and sponge iron in Gujarat
- Source: German Green Steel and Power RHP filed with NSE, September 2026
In 3 of the last 5 years, the typical Metals & Mining stock did better than the typical listed stock.
| Year | Typical stock | Clean average | Stocks up | Whole market | Abnormal moves set aside |
|---|---|---|---|---|---|
| 2021 | +97.7% | +106.6% | 95% of 19 | +45.5% | None |
| 2022 | -0.5% | +14.5% | 47% of 19 | +3.0% | None |
| 2023 | +70.4% | +84.0% | 84% of 19 | +43.5% | JAIBALAJI +1292.8% |
| 2024 | +4.8% | +23.4% | 55% of 22 | +23.1% | None |
| 2025 | +29.2% | +32.8% | 87% of 23 | -4.2% | None |
| 2026 YTD | -8.6% | -10.0% | 40% of 25 | -2.8% | SGMART +140.6% |
Calendar-year returns of the Metals & Mining companies in the Nifty Total Market index, adjusted for splits and bonuses. The typical stock is the median, so one stock's spike or crash cannot pass for the whole sector. Moves more than three interquartile ranges from the middle are named and left out of the clean average. Only companies listed today are counted, so ones that collapsed and delisted are missing and past returns look better than they were. Past sector returns say nothing certain about this IPO.
Use NSE's official IPO bid and allotment verification page.
nseindia.comWhat is the GMP of German Green Steel and Power Limited today?
The latest unofficial grey market premium for German Green Steel and Power Limited is — (9.35% of the upper price band), sourced from InvestorGain. GMP is unofficial and unregulated.
What is the price band of German Green Steel and Power Limited?
The price band is ₹132–₹139 per share, as filed with NSE.
When does German Green Steel and Power Limited open and close?
The issue window is 25–29 Sep 2026. The current status is closed.
How much is German Green Steel and Power Limited subscribed?
Live subscription figures are published by NSE once bidding opens.
Is German Green Steel and Power Limited a good IPO to apply for?
Marketframe does not publish apply or avoid calls. The Marketframe score combines market demand (GMP, subscription, institutional bids) with facts from the offer document (valuation against listed peers, profit trend, fresh issue vs OFS, debt, promoter holding and sector record). It is an automated summary of data, not a recommendation or investment advice. Read the RHP and consult a SEBI-registered adviser.
↑Issue schedule verified from NSE
!GMP is unofficial and not verified by NSE
!Read the RHP risk factors before applying
Schedule, price band and live subscription data are sourced from NSE India. *GMP is sourced from InvestorGain, is unofficial and unregulated. The Marketframe score summarises market demand and offer-document data; it does not predict listing gains or returns. Marketframe does not provide investment advice. Verify every decision using SEBI, NSE, BSE and the relevant offer document.