German Green Steel & Power IPO
LISTEDMAINBOARDListing Performance
▲ 2.16%
Issue Price
₹139
Listing Price
₹142
Listed On
05 Oct 2026
- Price Band
- ₹132 – ₹139
- Lot Size
- 107
- Lot Value
- ₹14,873
- Open Date
- 25 Sep25 Sep 2026
- Close Date
- 29 Sep29 Sep 2026
- Min Investment
- ₹14,873
German Green Steel & Power — Stock Performance
About German Green Steel & Power
Use of IPO Proceeds
Total allocation: ₹234.03 Cr (excludes issue expenses)
Promoters
Inamulhaq Shamsulhaq Iraki
Chairman and Whole-time Director · age 57
Pre-issue: 40.91%
Abdulhaq Shamsulhaq Iraki
Managing Director · age 55
Pre-issue: 39.42%
Ibrarulhaq Inamulhaq Iraki
Whole-time Director · age 31
Pre-issue: 0.95%
Investment Analysis
Quick Analysis: 4 strengths · 6 risk factors· Exchange: Equity
Strengths (4)
- •Established distribution network through multiple distributors and dealers across regions
- •Vertical integration with captive production of intermediate products like Sponge Iron and MS Billets
- •ISO certified manufacturing facilities meeting international quality management standards
- •No significant disruptions to operations over three fiscal years demonstrating operational stability
Risk Factors (6)
- •Majority revenue (50.62% FY26) from top 10 customers; loss of major customers could adversely affect business and financial condition.
- •Actual results may differ materially from forward-looking statements due to regulatory changes, industry competition, and economic uncertainties.
- •First public offering with no established market; no assurance of active trading or price sustainability post-listing.
- •Exposure to macroeconomic volatility including interest rates, foreign exchange, inflation, and global financial market performance.
- •Commissioned CARE industry report relies on third-party data subject to methodological variations and inherent research limitations.
- •Reliance on restated consolidated financial information subject to rounding, adjustments, and potential variations in computation methodologies.
Demand snapshot
Subscription and grey market data as reported. Not a recommendation.
- Subscribed 23.19x (QIB 16.10x, NII 47.20x, Retail 16.94x) at close
Investor Quota
Approx. shares reserved per category
Estimated from total issue size; actual reserved lots are set in the RHP.
Application Lot Sizes
Retail caps at ₹2,00,000 (13 lots here). S-HNI is ₹2L–₹10L, B-HNI is above ₹10L.
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 107 | ₹14,873 |
| Retail (max) | 13 | 1,391 | ₹1,93,349 |
| S-HNI (min) | 14 | 1,498 | ₹2,08,222 |
| S-HNI (max) | 67 | 7,169 | ₹9,96,491 |
| B-HNI (min) | 68 | 7,276 | ₹10,11,364 |
Subscription Status
| Category | Day 1 | Day 3 | Day 4 | Day 5 |
|---|---|---|---|---|
| QIB | 1.32x | 16.10x | 1.33x | 16.10x |
| sNII (S-HNI) | 1.93x | 44.94x | 8.37x | 44.93x |
| bNII (B-HNI) | 2.35x | 48.33x | 5.65x | 48.33x |
| Retail | 1.25x | 16.97x | 4.56x | 16.94x |
| Total | 1.48x | 23.21x | 4.07x | 23.19x |
Colour: red <1x · amber 1–10x · green ≥10x oversubscribed.
Allotment Statistics
Retail Individual Investors (RII)
Subscription
16.94x
Allotment Ratio
1 lot per 17 applicants
Allotment Probability
~5.9%
Non-Institutional Investors (NII / HNI)
Subscription
47.20x
Allotment Type
Proportionate allotment
Qualified Institutional Buyers (QIB)
Subscription
16.10x
Allotment Type
Discretionary allotment
Total Subscription
23.19x
Allotment probability is estimated based on subscription data and is not guaranteed. Actual allotment depends on the registrar's process.
Basis of Allotment
Category-wise subscription & allotment ratio
Weigh your chances
IPO Timeline
Issue Opens
25 Sep 2026 · Fri
Issue Closes
29 Sep 2026 · Tue
Bidding Cut-off (UPI Mandate)
29 Sep 2026 · 5:00 PM IST
Allotment
30 Sep 2026 · Wed
Listing
05 Oct 2026 · Mon
Issue Opens
25 Sep 2026 · Fri
Issue Closes
29 Sep 2026 · Tue
Bidding Cut-off (UPI Mandate)
29 Sep 2026 · 5:00 PM IST
Allotment
30 Sep 2026 · Wed
Listing
05 Oct 2026 · Mon
IPO Details
| Registrar | Bigshare Services Private Limited |
| Exchange | Equity |
| ISIN | — |
| Face Value | ₹10 |
| Issue Size | ₹303.90 Cr |
| Fresh Issue | ₹290.00 Cr |
| OFS Size | ₹13.90 Cr |
| Lead Managers | Systematix Corporate Services Limited, Emkay Global Financial Services Limited, Pantomath Capital Advisors Private Limited |
3-Year Financial Summary
Revenue trend
↑ FY24→FY26
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY26 | 1,678.98 | 79.89 | — | — | — |
| FY25 | 1,507.57 | 59.94 | — | — | — |
| FY24 | 1,129.78 | 41.67 | — | — | — |
Detailed Line Items (₹ Cr)
| Line Item | FY24 | FY25 | FY26 |
|---|---|---|---|
| Total Income | 1,137.53 | 1,517.2 | 1,685.37 |
| EBITDA | 79.33 | 116.81 | 166.96 |
| Cash Flow — Operating | 28.36 | 74.43 | 140.8 |
| Cash Flow — Investing | -63.1 | -224.04 | -134.84 |
| Cash Flow — Financing | 34.68 | 151.22 | -6.84 |
From the company's offer document (DRHP/RHP); restated figures where available.
Check the valuation yourself
Company Fundamentals
11 sections extracted from this filingCapital Structure
Capital structure not disclosed in this filing.The capital-structure table was not found in German Green Steel & Power's offer document (common in abridged prospectuses).
Shareholding Pattern
Pre-Issue
Pre-Issue not disclosed in this filing.Not separately disclosed in German Green Steel & Power's filing.
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in German Green Steel & Power's filing.
Source: German Green Steel & Power offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
- QIB+50.00%
- NII / HNI+15.00%
- Retail+35.00%
OFS Selling Shareholders
- Inamulhaq Shamsulhaq Iraki5,00,000 sh
- Abdulhaq Shamsulhaq Iraki5,00,000 sh
Source: German Green Steel & Power offer document (DRHP/RHP).
Board & Management
Board of Directors (7)
- Inamulhaq Shamsulhaq Iraki₹1.20 Cr p.a.
Chairman and Whole-time Director
Not provided in extracted text
Not provided in extracted text
- Abdulhaq Shamsulhaq Iraki₹0.60 Cr p.a.
Managing Director
Not provided in extracted text
Not provided in extracted text
- Nareshkumar Punjiram Patel₹0.11 Cr p.a.
Whole-time Director
Not provided in extracted text
Not provided in extracted text
- Biswajit Adhikari₹0.02 Cr p.a.
Independent Director
Not provided in extracted text
Not provided in extracted text
- Indu Rao Kaveti₹0.03 Cr p.a.
Independent Director
Not provided in extracted text
Not provided in extracted text
- Intajhusen Imamkhan Malek₹0.02 Cr p.a.
Independent Director
Not provided in extracted text
Not provided in extracted text
- Sanjay Kumar Gupta₹0.00 Cr p.a.
Independent Director
Not provided in extracted text
Not provided in extracted text
Key Managerial Personnel (5)
- Mittal Pankajkumar Shah₹0.45 Cr p.a.
Chief Financial Officer
Bachelor of Commerce, Master of Commerce (External), Qualified Chartered Accountant, Fellow Member of ICAI
Over 16 years of post-qualification experience in the field of finance
- Mansuri Abira Idris
Company Secretary and Compliance Officer
Bachelor of Commerce, Bachelor of Laws, Qualified Company Secretary, Associate Member of Institute of Company Secretaries of India
Over 10 years of post-qualification experience in handling secretarial compliances
- Jesing N Barad₹0.08 Cr p.a.
Head (Human Resources)
Bachelor of Arts (Sociology), Bachelor of Education (Geography and History)
Over 14 years of experience in the human resources management function
- Manish Vats₹0.15 Cr p.a.
Head (Quality Control)
Bachelor of Engineering (Mechanical)
Over 26 years of experience in the field of production
- K Vijay Kumar₹0.36 Cr p.a.
Head (Plant)
Metallurgical Engineering degree
Over 22 years of experience in the field of projects and operations
Source: German Green Steel & Power offer document (DRHP/RHP).
Industry & Market
Per JPC, CareEdge Estimates, a report commissioned by the company (not independent).
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| German Green Steel and Power Limited | — | 14.91 | 18.86 | 77.76 |
| Beekay Steel Industries Ltd | 22.54 | 18.94 | 3.49 | 548.18 |
| Gallant Ispat Limited | 27.8 | 20.07 | 14.6 | 137.44 |
| Kamdhenu Limited | 14.57 | 2.78 | 19.77 | 14.06 |
| MSP Steel & Power Limited | 61.57 | 0.6 | 3.28 | 18.18 |
| VMS TMT Limited | 8.92 | 4.95 | 9.22 | 45.97 |
Registrar (RTA)
SEBI-registered Registrar & Transfer Agent — handles allotment and refunds.
Registrar:Bigshare Services Private Limited→Lead Managers (BRLMs)
Click any merchant banker for their full IPO track record (positive listing rate, average gain, IPOs managed).
Documents
Frequently Asked Questions
When is the German Green Steel & Power IPO opening?
The German Green Steel & Power IPO opens on 25 Sep 2026 and closes on 29 Sep 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the German Green Steel & Power IPO?
The price band for the German Green Steel & Power IPO is ₹132 to ₹139. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the German Green Steel & Power IPO?
The minimum lot size is 107 shares with a minimum investment of ₹14,873. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of German Green Steel & Power IPO today?
The latest Grey Market Premium for German Green Steel & Power is ₹10 (+6.83%). GMP is unofficial data and is not a guarantee of listing price.
When will the German Green Steel & Power IPO list on NSE and BSE?
The German Green Steel & Power IPO is expected to list on 05 Oct 2026 on Equity. Actual listing day trading begins at the start of the normal market session.
How can I check the German Green Steel & Power IPO allotment status?
The registrar for this IPO is Bigshare Services Private Limited. You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the German Green Steel & Power IPO a mainboard or SME issue?
German Green Steel & Power is a mainboard IPO that will list on the main NSE and BSE boards. Mainboard IPOs are open to retail investors with a minimum application of one lot.
How do I apply for the German Green Steel & Power IPO?
You can apply for the German Green Steel & Power IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA while the issue is open for bidding.
What is the GMP-implied price of German Green Steel & Power IPO?
The GMP-implied price (unofficial, not a forecast) is ₹149: the upper price band of ₹139 plus the latest grey market premium of ₹10, as of 05 Oct 2026, 11:32 PM IST. GMP is unofficial grey market data, and the actual listing price can differ from it.
What is the allotment ratio for German Green Steel & Power IPO?
Based on the retail subscription of 16.94x, the estimated allotment ratio is 1 lot per 17 applicants (approximately 5.9% chance of allotment). This is an estimate and actual allotment may vary.
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