German Green Steel & Power’s initial public offering (IPO) is set to open for subscription on September 25, 2026. According to the Red Herring Prospectus (RHP), the ₹303.90 crore book-built issue comprises a fresh issue of 2.09 crore equity shares aggregating up to ₹290.00 crore and an offer for sale (OFS) of 10.00 lakh equity shares aggregating up to ₹13.90 crore by its existing shareholders.

The IPO will remain open until September 29, 2026. The basis of allotment is expected to be finalised on September 30, 2026, and the shares are tentatively scheduled to be listed on the BSE and NSE on October 5 , 2026.

German Green Steel & Power IPO - Issue Details

Issue Type: Book Built Issue (Fresh Issue + OFS)
Total Issue Size: Up to ₹303.90 crore
Fresh Issue: Up to ₹290.00 crore
Offer for Sale (OFS): Up to ₹13.90 crore
Face Value: ₹1 per equity share
Price Band: ₹132 to ₹139 per share
Lot Size: 107 shares
Minimum Investment Amount (Retail Investor): ₹14,873 (107 shares at the upper price)
Listing: BSE, NSE
Book Running Lead Managers: Systematix Corporate Services Limited, Emkay Global Financial Services Limited, Pantomath Capital Advisors Private Limited
Registrar: Bigshare Services Private Limited

German Green Steel & Power IPO Timeline (Tentative)

The expected IPO schedule is as follows:

Event	Date
Subscription Opening Date	25 September 2026
Subscription Closing Date	29 September 2026
Basis of Allotment Date	30 September 2026
Refund Initiation Date	1 October 2026
Credit of Shares	1 October 2026
Listing on BSE and NSE	5 October 2026

Note: The allotment and listing dates are tentative and may be revised.

Explore other Upcoming IPOs on BSE and NSE.

German Green Steel & Power IPO Category-wise Investment Limits

The application size for each category is as follows -

Category	Investment Range
Qualified Institutional Buyers (QIBs)	Not more than 50% of the Net Issue
Non-Institutional Investors (NIIs)	Not less than 15% of the Net Issue
Retail Individual Investors (RII)	Not less than 35% of the Net Issue

The minimum investment amount for each category, based on the upper price band of ₹139 per share, is as follows -

Investor Category	Lots	Shares	Investment Amount (Approx.)
Retail (Minimum)	1	107	₹14,873
Retail (Maximum)	13	1391	₹1,93,349
sNII (Minimum)	14	1498	₹2,08,222
bNII (Minimum)	68	7276	₹10,11,364

Utilisation of IPO Proceeds

The company intends to utilise the net proceeds from the fresh issue towards:

Funding the capital expenditure requirements of the company towards expansion of its manufacturing facility at Samakhiyali, Kutch, Gujarat and hybrid wind and solar power plant (“Project”)
Prepayment or repayment, in full or in part, of certain outstanding borrowings availed by the company
General corporate purposes.

About German Green Steel & Power Limited

Incorporated in 2008, German Green Steel & Power Limited is a vertically integrated iron and steel manufacturer based in Gujarat, primarily focused on TMT bars. It operates two manufacturing facilities, Samakhiyali and Viramgam (through its subsidiary, German TMT Private Limited) and manufactures TMT bars, MS billets and sponge iron using recycled steel scrap as a key raw material. Its TMT bar production ranges from 8 mm to 40 mm.

The company has also expanded into value-added steel products, including cut-and-bend bars and epoxy-coated TMT bars, with plans to introduce stainless steel round bars and corrosion-resistant TMT bars. Both the company and its subsidiary have received Green Steel certification, with 4-star and 5-star ratings respectively, highlighting their focus on sustainable steel manufacturing.

Key Financial Highlights

Particulars	FY26 (in ₹ crore)	FY25 (in ₹ crore)	FY24 (in ₹ crore)
Revenue from operations	1,678.98	1,507.571	1,129.78
EBITDA	166.96	116.81	793.33
Profit After Tax (PAT)	79.88	59.94	41.66