German Green Steel & Power Ltd IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | 9.32x | 10,931,653 | 101,862,393 | ₹152 Cr |
| NII (HNI) | 56.25x | 3,279,497 | 184,484,585 | ₹46 Cr |
| Retail | 23.49x | 7,652,159 | 179,758,288 | ₹106 Cr |
| Σ Total | 21.32x | 21,863,309 | 466,105,266 | ₹304 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 107 | ₹14,873 |
| Retail (Max) | 13 | 1,391 | ₹193,349 |
| S-HNI (Min) | 14 | 1,498 | ₹208,222 |
| B-HNI (Min) | 67 | 7,169 | ₹996,491 |
Financial Statements Amount in ₹ Crore
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Revenue | 1,685 | 1,517 | 1,138 |
| EBITDA | 167 | 117 | 80 |
| Profit After Tax | 80 | 60 | 42 |
| Net Worth | 422 | 293 | 176 |
| Total Assets | 1,220 | 1,015 | 560 |
| Reserves & Surplus | 369 | 241 | 168 |
| Total Borrowing | 334 | 348 | 198 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- 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 –
Company Overview
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 is predominantly conducted on a business-to-business basis with three (3) major types of customers, namely (i) distributors, (ii) dealers and (iii) institutional customers. The brand “German TMT” has established strong recognition for TMT Bars in Gujarat.
Product Portfolio:
- TMT Bars,
- MS Billets, and
- Sponge Iron, with
- TMT bar
The company's manufacturing capabilities ranging from 8 mm to 40 mm. The corporate and registered office is located in Ahmedabad, Gujarat, and the Samakhiyali Facility is situated close to ports in Gujarat.
The company operates two manufacturing facilities in Gujarat: the Samakhiyali Facility, which is vertically integrated, and the Viramgam Facility, operated through its material subsidiary, German TMX Private Limited. They are currently in the process of expanding the installed capacity of Sponge Iron at their Samakhiyali Facility from 66,000 MTPA to approximately 1,48,500 MTPA, MS billets production capacity from 2,14,500 TPA to 4,12,500 TPA and existing installed TMT Bars production capacity at the Samakhiyali Facility from 181,500 MTPA to 346,500 MTPA.
For the nine months ended December 31, 2024, the majority of sales were generated through a network of distributors and dealers. Business operations are predominantly conducted on a business-to-business basis, catering to three primary customer segments: distributors, dealers, and institutional customers. These intermediaries supply products to builders and contractors.
As of March 31, 2026, the company's workforce comprised 1,357 employees, and they utilised the services of 143 contract labourers.
Competitive Strengths:
- 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