German Green Steel shares list at 3% premium over IPO price on BSE

Shares of German Green Steel made a modest debut on Monday, listing at a premium of 3% over the IPO price.

The stock opened at Rs 143.50 apiece on the BSE, up 3.2% from the issue price of Rs 139. On the NSE, it started trading at Rs 142, a 2.15% premium to the issue price.

The Rs 303.90 crore IPO was a book-built issue, comprising a fresh issue of 2.09 crore shares worth Rs 290 crore and an offer for sale (OFS) of 10 lakh shares aggregating to Rs 13.90 crore.


The IPO opened on September 25, 2026 and closed on September 29, 2026. The issue received an overall subscription of 30.42 times. The public issue was subscribed 23.98 times in the retail category, 21.91 times in QIB (Ex Anchor), and 56.77 times in the NII category.

The price band has been fixed at Rs 132–Rs 139 per share, with a lot size of 107 shares. At the upper price band, retail investors will need to invest a minimum of Rs 14,873 for one lot.

Systematix Corporate Services Ltd, Emkay Global Financial Services Ltd., and Pantomath Capital Advisors Pvt Ltd. are the book-running lead managers for the issue, while Bigshare Services Pvt. Ltd. is the registrar.

Financial Performance

German Green Steel & Power Ltd. reported an 11% increase in total income, from Rs 1,517 crore in FY25 to Rs 1,685 crore in FY26. Profit after tax (PAT) rose 33%, from Rs 60 crore to Rs 80 crore during the same period.

About German Green Steel & Power Ltd.

Incorporated in 2008, German Green Steel and Power Limited is an iron and steel manufacturer primarily operating in the western region of India, with a strong presence in Gujarat and a focus on TMX Bars. The company's business is predominantly conducted on a business-to-business basis with three major types of customers: (i) distributors, (ii) dealers and (iii) institutional customers. The brand “German TMT” has established strong recognition for TMT Bars in Gujarat. As of March 31, 2026, the company's workforce comprised 1,357 employees, and they utilised the services of 143 contract labourers.

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