German Green Steel & Power Shares List at 3.24% Premium at ₹143.50 on BSE

German Green Steel & Power shares made their stock market debut on October 5, 2026, listing at ₹143.50 on BSE, compared with the IPO issue price of ₹139 per share. The listing represented a premium of 3.24%. The stock listed at ₹142 on NSE.

Following the listing, the shares gave up their initial gains and traded at ₹132.75 in a later verified market snapshot. The stock also touched an intraday low of ₹127.20.

The listing followed the company's IPO, which was open from September 25 to September 29, 2026. The ₹303.90 crore issue was subscribed 30.42 times overall. The IPO price band was ₹132 to ₹139 per share.

German Green Steel & Power is a vertically integrated iron and steel manufacturer producing sponge iron, MS billets and TMT bars, with TMT products sold under the German TMX brand.

German Green Steel & Power IPO Listing Details

German Green Steel & Power IPO was a ₹303.90 crore book-building mainboard issue comprising a fresh issue of ₹290 crore and an offer for sale of ₹13.90 crore.

The OFS comprised 10 lakh shares, while the fresh issue formed the bulk of the offer.

The IPO opened on September 25 and closed on September 29, 2026. The price band was ₹132 to ₹139 per share.

The issue was subscribed 30.42 times overall. NIIs recorded the highest subscription at 56.77 times, followed by Individual Investors at 23.98 times and QIBs at 21.91 times.

German Green Steel & Power listed at ₹143.50 on BSE and ₹142 on NSE.

• Issue Price: ₹139 per share

• BSE Listing Price: ₹143.50 per share

• NSE Listing Price: ₹142 per share

• BSE Listing Premium: 3.24%

• Trading Price: ₹132.75 per share

• Change From Issue Price: -4.50%

• Intraday Low: ₹127.20

• Overall Subscription: 30.42 times

• Fresh Issue: ₹290 crore

• Offer for Sale: ₹13.90 crore

• Price Band: ₹132 to ₹139 per share

• IPO Open Date: September 25, 2026

• IPO Close Date: September 29, 2026

• Listing Date: October 5, 2026

• Exchange: BSE and NSE

First-Day Trading Performance

Listing Price: The German Green Steel & Power share price listed at ₹143.50 on BSE, a 3.24% premium to the ₹139 issue price. The NSE listing price was ₹142.

Post-listing price: The stock subsequently traded at ₹132.75, down 4.50% from the issue price and 7.49% from the BSE listing price.

Intraday low: The shares touched ₹127.20, which was 8.49% below the issue price.

Subscription context: German Green Steel & Power IPO was subscribed 30.42 times overall, led by NIIs at 56.77 times.

Growth Drivers and Challenges

Growth Drivers

Integrated Steel Manufacturing: The company manufactures sponge iron, MS billets and TMT bars across an integrated production chain.

TMT Product Portfolio: TMT bars form the largest part of revenue and are marketed under the German TMX brand.

Infrastructure Demand: Construction and infrastructure spending are key end-market demand drivers for steel products.

Captive Power: Its manufacturing operations are supported by captive power infrastructure, including waste-heat recovery and renewable capacity.

Capacity Expansion: The company plans further investment at its Samakhiyali manufacturing facility and hybrid wind-solar power infrastructure.

Challenges

Steel Price Cyclicality: Selling prices and profitability can fluctuate with steel-industry cycles.

Raw-Material Exposure: Iron ore, coal and other inputs affect production costs.

Capital Intensity: Steel manufacturing and capacity expansion require substantial capital.

Energy Costs: Power consumption is a significant component of steel-production economics.

Regional Concentration: A substantial proportion of business is linked to Gujarat and surrounding markets.

Utilisation of IPO Proceeds

German Green Steel & Power's IPO comprised a ₹290 crore fresh issue and a ₹13.90 crore offer for sale.

The company proposes to deploy approximately ₹226.33 crore towards capital expenditure at its Samakhiyali manufacturing facility and hybrid wind and solar power project.

Approximately ₹7.70 crore is intended for repayment or prepayment of borrowings, with the remaining proceeds available for general corporate purposes.

Principal uses include:

• ₹226.33 crore towards manufacturing and renewable-power capital expenditure

• ₹7.70 crore towards repayment or prepayment of borrowings

• General corporate purposes

Business and IPO Overview

German Green Steel & Power Limited is a Gujarat-based vertically integrated steel manufacturer.

The company produces sponge iron, MS billets and TMT bars, with the latter sold primarily under the German TMX brand in Fe500, Fe500D and Fe550 grades.

Its principal integrated facility is located at Samakhiyali in Kutch. The facility is supported by captive and renewable-power infrastructure.

TMT bars were the company’s largest product category in FY26, contributing around 78.74% of revenue from operations.

The ₹303.90 crore IPO comprised a ₹290 crore fresh issue and ₹13.90 crore OFS and was subscribed 30.42 times overall.

German Green Steel & Power listed at ₹143.50 on BSE and ₹142 on NSE before falling below the ₹139 issue price during the morning session.