Shares of German Green Steel & Power opened ₹143.50 on the BSE, a 3.24% premium to the ₹139 IPO price, after a 30.42× subscription. On the NSE, the stock opened at ₹142, a 2.16% premium.
The IPO was subscribed 30.42 times overall—retail 23.98×, QIB 21.91×, and non‑institutional 56.77×. Anchor investors poured ₹91.17 crore before the issue, with names including Necta Bloom VCC and Lords MultiGrowth Fund.
The company priced the shares at ₹132–₹139, raising ₹303.9 crore at the upper end. The fresh issue of ₹290 crore and an offer‑for‑sale of ₹13.9 crore will fund capex for the Samakhiyali expansion, a hybrid wind‑solar plant and debt repayment.
German Green Steel & Power, a vertically integrated manufacturer, delivered FY26 revenue of ₹1,678.98 crore and net profit of ₹79.88 crore. Its product mix spans TMT bars, mild steel billets and sponge iron.
A 30× subscription beats the sector average of 8–10× for Indian steel IPOs, yet the modest 3% opening premium mirrors the cautious appetite seen in peers like Runwal Enterprises. Analysts stress that the high subscription may not translate into sustained upside if market volatility spikes.