German Green Steel IPO GMP ₹28 Today (25 Sept), Price Band, Subscription Status, Allotment Date

German Green Steel IPO Review & Analysis

Our reading of the numbers below — growth rates, margins, pricing and demand are calculated from the company's own filed figures, not copied from anywhere.

German Green Steel is a mainboard issue raising ₹304 Cr, offered in a band of ₹132–₹139 per share. At the upper end that is 13.9 times the ₹10 face value, so ₹129 of every share subscribed is share premium rather than capital.

A retail application for German Green Steel needs one lot of 107 shares, which works out to ₹14,873 at the upper band of ₹139. That is close to the ₹15,000 ceiling SEBI expects for a single retail lot, so an investor applying at cut-off is committing nearly the full retail limit per application. Retail applications are capped at ₹2,00,000, which here is 13 lots; bidding above that moves the application into the non-institutional category, and the large-HNI bucket begins at ₹10,00,000, or about 68 lots.

For German Green Steel, bidding runs 25-29 Sep, allotment is finalised on 30 Sep 2026, the shares list on 5 Oct 2026. Applications that do not receive an allotment have their UPI mandate released around 1 day after the issue closes. Counting from the close of bidding, money stays blocked for roughly 6 days before listing decides what the holding is worth.

The issue is reserved 50% to qualified institutional buyers, 15% to non-institutional investors, 35% to retail. A 35% retail share is the wider end of the range, which improves the odds for small applications when the book is only modestly oversubscribed. An oversubscribed retail portion is not allotted in proportion to the amount applied for: applications are reduced to single lots and drawn by lot, so several small applications from different PANs are more effective than one large one.

The issue splits into ₹290 Cr of fresh capital (95.4%) and ₹14 Cr as an offer for sale. The company keeps the fresh portion for the objects of the issue, while the rest is existing shareholders monetising their stake.

Revenue moved from ₹1517.21 Cr in 31 Mar 2025 to ₹1685.38 Cr in 31 Mar 2026 (+11.1%), while profit after tax went from ₹59.94 Cr to ₹79.89 Cr (+33.3%). Profit grew faster than revenue, which points to operating leverage or a better cost mix rather than growth bought purely through volume.

Subscription stands at 0.28x, which is below full. An issue must be subscribed at least once over to proceed at all; if it closes under that, the offer is withdrawn and all application money is refunded.

Bigshare Services Pvt.Ltd. is the registrar for this issue, which means the allotment status for German Green Steel is published on their portal from 30 Sep 2026. A PAN, application number or demat client ID is enough to look it up; the credited shares also appear in the demat account itself a day or so before listing.

A grey market premium of ₹28 on the upper band of ₹139 implies a listing gain of roughly 20.1%. The grey market is unofficial and unregulated, the premium can change daily, and it has no bearing on allotment — treat it as a sentiment reading, not a forecast.

The figures above are worked out from the issue's own filed numbers and are for information only. They are not investment advice — read the RHP before you apply.