German Green Steel & Power IPO GMP, Date, Price Band & Review

German Green Steel and Power IPO Details

German Green Steel and Power IPO is a 100% book-built issue of ₹303.90 crore, comprising a fresh issue of ₹290 crore and an offer for sale (OFS) of ₹13.90 crore, with a face value of ₹10 per share. The company filed its DRHP with SEBI on June 29, 2026.

The price band of the issue is set between ₹132 and ₹139 per share and the lot size for an application is 107 shares. The minimum amount of investment required by an individual investor is ₹14,873 (107 shares). The IPO will be open from September 25 to 29, 2026, on the BSE and the NSE platforms, with a tentative listing date fixed as Oct 5, 2026.

The book-running lead manager (BRLM) of the issue is Systematix Corporate Services Ltd. and Emkay Global Financial Services Ltd., while the registrar to the issue is Bigshare Services Pvt. Ltd.

German Green Steel and Power IPO Date & Timeline

The German Green Steel and Power IPO is officially set to open for subscription on Sep 25, 2026 and will close on Sep 29, 2026. The company initially filed its Draft Red Herring Prospectus (DRHP) on June 29, 2026 and has now finalized its schedule following SEBI approval. Once the subscription window closes, allotment is expected on Sep 30, 2026. Following this, the firm will initiate refunds and credit shares to successful investors' demat accounts on Oct 1, 2026. Finally, shares of German Green Steel and Power Ltd. are tentatively scheduled to list on the stock exchanges on Oct 5, 2026.

Company Background

German Green Steel and Power Ltd. was incorporated on July 9, 2008, as "Haq Enterprises Private Limited" in Gujarat, undergoing several strategic name changes to become "Haq Steels and Metaliks Private Limited" in April 2018 and finally, with a fresh certificate of incorporation, the company converted into "German Green Steel and Power Limited" in January 2024 to proceed with its public listing procedures.

The company is a vertically integrated iron and steel manufacturer primarily operating in the western region of India, with a strong presence in Gujarat, with a main focus on TMX bars. They have two manufacturing facilities in Gujarat, one in Samakhiyali and the other in Viramgam. Their manufacturing facility mainly comprises TMT bars (ranging from 8 mm to 40 mm), MS Billets and Sponge Iron.

Operations & Product Range

The key operating strategy model of German Green Steel and Power Ltd. revolves around vertical integration in the steel industry. The range of products offered by the company comprises sponge iron, MS billets and TMT bars in different variations such as Fe500, Fe550, D series (ductile), CRS series (corrosion-resistant steel), varying between 8mm and 40 mm. With this, the firm maintains strict quality checks and better profit margins in the production process.

Facilities & Capacity

German Green Steel & Power Ltd. manufactures in two plants in Ahmedabad, Gujarat state. Its premier Samakhiyali Plant in the district of Kutch covers an area of about 524,673 square meters and is a fully integrated plant that manufactures sponge iron, billets and TMT bars along with a captive power plant. While another manufacturing plant is at Viramgam in the district of Ahmedabad, which is managed via its material company called German TMX Private Limited.

Brands & Market Presence

German Green Steel & Power Ltd. has built up an impressive reputation for itself in the Gujarat region due to its emphasis on quality-certified TMT bars. It functions mainly in a B2B business format, catering to a wide range of customers that include institutions, wholesalers and a chain of more than 300 dealers. The name “German” highlights the company’s dedication to precise engineering and superior industry standards within the national steel industry.

Revenue Streams & Business Model

The primary revenue channel of German Green Steel and Power Ltd. comes from the sale of TMT bars, MS billets and sponge iron to distributors, dealers and institutional clients. In FY2024, the company reported total income of ₹1,137.54 crore and assets were reported at ₹559.73 crore. By operating as a vertically integrated player, the company captures value at multiple stages of the steel-making process, while captive power capacity helps mitigate the risks of high energy costs.

Financial Performance

In Fiscal Year 2026, German Green Steel and Power Limited reported strong financial growth, generating revenue from operations of ₹1,678.98 crore, an 11.37% increase over the prior period. The firm achieved an EBITDA of ₹166.96 crore with an EBITDA margin of 9.94%. Net profit (PAT) surged to ₹79.89 crore, delivering a profit margin of 4.76%. Operational efficiency remained robust, reflected in a Return on Equity (ROE) of 18.86% and a Return on Capital Employed (ROCE) of 19.31%.

Management & Shareholding

German Green Steel and Power Ltd. is promoted by Inamulhaq Shamsulhaq Iraki, Abdulhaq Shamsulhaq Iraki and Ibrarulhaq Inamulhaq Iraki. Before the IPO, the promoters collectively held a 96.63% stake in the company. But after the IPO, the promoters will be diluted to 68.54%, as the offering includes 2,08,63,309 fresh shares and 10,00,000 share to sold by the existing shareholders.

Board & Key Management

The leadership of German Green Steel and Power Ltd. is led by a team of experts with many years of experience. Inamulhaq Shamsulhaq Iraki serves as the Chairman and gives strategic direction to the firm. The daily operations are managed by Abdulhaq Shamsulhaq Iraki, the Managing Director, along with Whole-Time Directors Ibrarulhaq Inamulhaq Iraki and Nareshkumar Punjiram Patel. To ensure good governance, the board includes Independent Directors Biswajit Adhikari, Indu Gupta Rao, Intajhusen Imamkhan Malek and Sanjay Kumar Gupta for honest oversight. Together, this team uses its knowledge to help the company grow and stay successful.