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German Green Steel IPO Subscribed 29 Times, Exceeding Expectations
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News18•29-09-2026, 20:00
German Green Steel IPO Subscribed 29 Times, Exceeding Expectations
- •German Green Steel and Power Ltd's initial public offer was subscribed 28.98 times on its final day, receiving bids for over 46.5 crore shares against 1.6 crore shares on offer.
- •The Rs 304-crore IPO saw strong interest across all investor categories, with non-institutional investors subscribing 54.03 times, retail investors 22.83 times, and Qualified Institutional Buyers (QIBs) 20.93 times.
- •The Gujarat-based iron and steel maker had previously raised Rs 91.16 crore from anchor investors and set a price band of Rs 132-139 per equity share.
- •The IPO comprises a fresh issue of equity shares worth up to Rs 290 crore and an offer for sale of 10 lakh equity shares.
- •Proceeds from the fresh issue will fund the expansion of its manufacturing facility, establishment of a hybrid wind and solar power plant, debt repayment, and general corporate purposes.
Key Questions Answered
The initial public offering of German Green Steel and Power Ltd was subscribed 28.98 times on the final day of bidding.
The proceeds will be utilized for expanding the manufacturing facility at Samakhiyali in Kutch, Gujarat, setting up a hybrid wind and solar power plant, repaying debt, and for general corporate purposes.
The price band for the IPO was fixed at Rs 132-139 per equity share, with the total issue size working out to around Rs 304 crore at the upper end.
