German Green Steel and Power Limited manufactures and sells TMT Bars, MS Billets and Sponge Iron, following an integrated production model with a focus on value-added steel products.
The company operates two manufacturing facilities in Gujarat: Samakhiyali, which produces Sponge Iron, MS Billets and TMT Bars, and Viramgam, which produces MS Billets and TMT Bars. Its TMT Bars are available in Fe500, Fe500D, Fe550, Fe550D and CRS variants, ranging from 8 mm to 40 mm.
As of March 31, 2026, the company had installed capacities of 3,01,950 MT for TMT Bars, 3,57,060 MT for MS Billets and 66,000 MT for Sponge Iron. In FY2026, TMT Bars contributed 78.74% of revenue, making it the largest product segment.
The company follows a B2B model, serving distributors, dealers and institutional customers across sectors such as roadways, engineering, thermal plants and real estate.
The company also has captive power infrastructure at its Samakhiyali Facility, including a 16 MW coal-based power plant and a 4 MW waste-heat recovery plant. As of March 31, 2026, approximately 75.44% of its energy requirements were met through its captive and renewable energy facilities.
The company has expanded into value-added steel products, including Cut & Bend TMT Bars and Epoxy-coated TMT Bars. Epoxy-coated TMT Bars are designed with a protective coating to improve resistance to corrosion.
As of March 31, 2026, the company’s workforce comprised 1,357 employees, and they utilised the services of 143 contract labourers.
German Green Steel & Power IPO – Details
| IPO Opening Date | 25 September 2026 |
| IPO Closing Date | 29 September 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 2,18,63,309 Shares Worth ₹303.90 Crore Fresh Issue: 2,08,63,309 Shares Worth ₹290.00 Crore Offer For Sale: 10,00,000 Shares Worth ₹13.90 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹132 – ₹139 per share |
| Market Lot | 107 Shares |
| Min Order | 107 Shares [1 Lot] |
| Listing At | BSE, NSE |
| Register | Bigshare Services Pvt. Ltd. |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
German Green Steel & Power IPO – Date Schedule
| IPO Open Date | 25 September 2026 |
| IPO Close Date | 29 September 2026 |
| Basis of Allotment | 30 September 2026 |
| Initiation of Refund | 01 October 2026 |
| Credit of Shares to Demat Account | 01 October 2026 |
| IPO Listing Date | 05 October 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 29, 2026 |
German Green Steel & Power IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 107 | ₹14,873 |
| Retail (Max) | 13 | 1391 | ₹1,93,349 |
| S-HNI (Min) | 14 | 1498 | ₹2,08,222 |
| S-HNI (Max) | 67 | 7169 | ₹9,96,491 |
| B-HNI (Min) | 68 | 7276 | ₹10,11,364 |
Competitive Strength
- Vertically integrated manufacturing setup, including captive power capacity.
- Extensive distribution network in Gujarat with long-term customer relationships.
- Experienced promoters supported by a strong management and execution team.
- Strong brand recall driven by quality products.
- Track record of growth in financial performance.
Company Promoters
- Inamulhaq Shamsulhaq Iraki
- Abdulhaq Shamsulhaq Iraki
- Ibrarulhaq Inamulhaq Iraki
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2024 | ₹1,137.54 Cr | ₹1,082.15 Cr | ₹41.67 Cr | ₹198.39 Cr |
| 31 March 2025 | ₹1,517.21 Cr | ₹1,438.16 Cr | ₹59.94 Cr | ₹347.86 Cr |
| 31 March 2026 | ₹1,685.38 Cr | ₹1,575.57 Cr | ₹79.89 Cr | ₹334.37 Cr |
Key Performance Indicator
| KPI | Values (Mar 31, 2026) |
|---|---|
| ROE | 18.86% |
| ROCE | 19.31% |
| Debt/Equity | 0.79 |
| RoNW | 18.86% |
| PAT Margin | 4.76% |
| EBITDA Margin | 9.94% |
| NAV | 77.76 |
| Price to Book Value | 0.67 |
| Pre IPO | Post IPO | |
| EPS (₹) | 14.66 | 10.60 |
| P/E (x) | 9.48 | 13.11 |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Funding the capital expenditure requirements of its manufacturing facility at Samakhiyali, Kutch, Gujarat and hybrid wind and solar power plant. | ₹226.33 |
| Prepayment or re-payment, in full or in part, of certain outstanding borrowings availed by the Company. | ₹7.70 |
| General Corporate Purposes. |
German Green Steel & Power IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 10 | Beekay Steel Industries Ltd | 22.54 |
| 2 | 10 | Gallant Ispat Limited | 27.80 |
| 3 | 1 | Kamdhenu Limited | 14.57 |
| 4 | 10 | MSP Steel & Power Limited | 61.57 |
| 5 | 10 | VMS TMT Limited | 8.92 |
✅Strengths
- Integrated Operations with in-house steel production.
- Strong TMT Focus contributing 78.74% of FY2026 revenue.
- Captive Power supports energy requirements.
- Established Gujarat Network of dealers and distributors.
- Capacity Expansion planned across key products.
⚠️Risks
- Gujarat Concentration with 97.74% of FY2026 sales from Gujarat.
- Steel Price Volatility can impact margins.
- Raw Material Risk from price and supply fluctuations.
- High Capital Requirement for expansion.
- Execution Risk in implementing growth plans.
German Green Steel & Power IPO Promoter Holding
| Pre Issue Share Holding | 96.63% |
| Post Issue Share Holding | 68.54% |
German Green Steel & Power IPO Prospectus
Company Contact Information
| German Green Steel & Power Ltd. German House, Near Bharat Petrol Pump, Opp. Kochrab Ashram, Paldi, Ahmedabad, Gujarat, 380007 Phone: 9723555100 Email: secretarial@germansteel.in Website: https://www.germansteel.in/ |
German Green Steel & Power IPO Registrar
| Bigshare Services Pvt. Ltd. Phone: 8657578989/8069219065/8069219060 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/IPO_Status.html |
German Green Steel & Power IPO Lead Manager(s)
| 1. Systematix Corporate Services Limited 2. Emkay Global Financial Services Limited 3. Pantomath Capital Advisors Private Limited |
German Green Steel & Power IPO FAQs
| What is the German Green Steel & Power IPO? German Green Steel & Power IPO is a main-board IPO. The issue is priced at ₹132 to ₹139 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will the German Green Steel & Power IPO open? The IPO is to open on 25 September 2026 for QIB, NII, and Retail Investors. |
| What is German Green Steel & Power IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the German Green Steel & Power IPO Size? German Green Steel & Power IPO size is ₹303.90 Crore. |
| What are the German Green Steel & Power IPO Minimum and maximum lot sizes for Retail? The minimum bid is 107 Shares with ₹14,873, while the maximum bid is 1391 Shares with ₹1,93,349. |
| What is the German Green Steel & Power IPO Allotment Date? German Green Steel & Power IPO allotment date is 30 September 2026. |
| What is the German Green Steel & Power IPO Listing Date? German Green Steel & Power IPO listing date is 05 October 2026. The IPO is to be listed on the BSE and the NSE. |
