German Green Steel and Power IPO subscribed 1.73 times
The initial public offer of German Green Steel and Power received bids for 2,78,00,633 shares as against 1,60,62,879 shares on offer, according to stock exchange data at 17:00 IST on 25 September 2026. The issue was subscribed 1.73 times.
The issue opened for bidding on 25 September 2026 and will close on 29 September 2026. The price band of the IPO is fixed between Rs 132 and 139 per share. An investor can bid for a minimum of 107 equity shares and multiples thereof.
The IPO comprises a fresh issue of up to Rs 290 crore and an offer for sale (OFS) of shares worth Rs 13.90 crore at the upper price band of Rs 139 per equity share. The company proposes to utilise Rs 226.33 crore from the fresh issue towards funding the capital expenditure requirements for expansion of its manufacturing facility at Samakhiyali and setting up hybrid wind and solar power plants.
The company intends to expand its existing installed sponge iron production capacity at the Samakhiyali facility from 66,000 tonnes per annum (tpa) to 1,48,500 tpa, MS billets manufacturing capacity from 2,14,500 tpa to 4,12,500 tpa and TMT bars production capacity from 1,81,500 tpa to 3,46,500 tpa. Capacity utilisation stood at 95.2% for sponge iron, 79.4% for MS billets and 87.8% for TMT bars in FY2026.
The company also intends to add a 3.6 MW (DC) solar plant and 5.4 MW wind power project at Bharuch, Gujarat, which are expected to be commissioned by 31 December 2026. GGSPL further intends to set up a 2.5 MW (DC) solar plant and two wind turbine generators (WTGs) of 2.7 MW each in Gujarat to reduce its dependency on the state electricity board.
German Green Steel and Power (GGSPL) is an iron and steel manufacturer primarily operating in western India, with a strong presence in Gujarat and a focus on TMT bars. Its product portfolio includes TMT bars, MS billets and sponge iron. The company has two manufacturing facilities in Gujarat, with the Samakhiyali facility being vertically integrated and the Viramgam facility operated through its subsidiary, German TMT Private. Its TMT bars are available in sizes ranging from 8 mm to 40 mm. GGSPL primarily operates on a B2B model, serving distributors, dealers and institutional customers. As of 31 March 2026, it had 12 distributors, 148 dealers and 343 direct institutional customers. The company markets its TMT bars under the German TMT brand, which has established recognition in Gujarat.
Ahead of the IPO, Orient Cables (India) on Thursday, 24 August 2026, raised Rs 91.16 crore from anchor investors. The board allotted 65.58 crore shares at Rs 139 each to 6 anchor investors.
The firm reported a consolidated net profit of Rs 79.89 crore and sales of Rs 1,678.98 crore for the twelve months ended on 31 March 2026.
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