German Green Steel and Power has set its IPO price band at ₹132-139 per share for a ₹304 crore public offering. The issue opens for subscription on September 25, 2026. Proceeds will fund facility expansion and debt reduction. The company reported a net profit of ₹79.9 crore for the fiscal year ended March 2026.
Gujarat-based German Green Steel and Power has announced a price band of ₹132-139 per share for its upcoming initial public offering (IPO). The public subscription window will open on September 25 and close on September 29, 2026, with anchor investors participating on September 24. The total issue size stands at ₹304 crore, which includes a fresh issue of shares worth ₹290 crore and an offer-for-sale (OFS) of 10 lakh equity shares by existing promoters.
Following the offering, the company’s post-issue valuation is pegged at ₹1,047 crore. Investors should note that the company has adjusted its fundraising plans, which follows a pre-IPO placement round held in September 2025. During that round, shares were priced at ₹270 each, which is significantly higher than the current IPO price band. This shift in valuation expectations is a key factor for potential investors to consider when evaluating the issue.
A significant portion of the net proceeds, amounting to ₹226.3 crore, is allocated for the expansion of the manufacturing facility at Samakhiyali, Gujarat. This capital investment targets a substantial increase in production capacities. The firm aims to expand its sponge iron capacity to 1,48,500 MTPA from 66,000 MTPA, and raise MS billets capacity to 4,12,500 TPA from 2,14,500 TPA. Furthermore, the company plans to scale up TMT bar production to 3,46,500 MTPA from 1,81,500 MTPA. The funds will also support the development of a hybrid wind and solar power project.
While the company intends to use a portion of the proceeds for debt reduction, the impact will be limited, with approximately ₹7.7 crore earmarked for retiring liabilities. As of August 2026, the company reported total borrowings of ₹344.1 crore. The financial performance for the fiscal year ended March 2026 shows a net profit of ₹79.9 crore, reflecting a 33.3% increase, while revenue rose by 11.4% to reach ₹1,679 crore.
Retail investors can bid for a minimum of one lot of 107 equity shares, resulting in an entry-level investment of ₹14,873 at the upper price band. The IPO is being managed by a team including Systematix Corporate Services, Emkay Global Financial Services, and Pantomath Capital Advisors. The next significant monitorable for investors will be the subscription trends, followed by the company’s ability to execute its expansion plans and manage its remaining debt obligations efficiently.