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German Green Steel Shares Plunge Nearly 8 Percent in Market Debut
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News18•05-10-2026, 19:15
German Green Steel Shares Plunge Nearly 8 Percent in Market Debut
- •Shares of German Green Steel and Power Ltd ended nearly 8 per cent lower on their trading debut compared to the issue price of Rs 139.
- •The stock initially listed at a positive note on both BSE and NSE before succumbing to selling pressure.
- •The company's initial public offer of Rs 304 crore had received 28.98 times subscription on the final day of bidding.
- •Proceeds from the IPO will be utilized for expanding the manufacturing facility in Gujarat, setting up a hybrid power plant, and debt repayment.
Key Questions Answered
German Green Steel and Power Ltd shares ended nearly 8 per cent lower on their trading debut compared to the issue price of Rs 139. Although the stock initially listed at a premium on both the BSE and NSE, it surrendered early gains to close at Rs 128.20 on the BSE and Rs 128.33 on the NSE.
The initial public offer of German Green Steel and Power Ltd received a total subscription of 28.98 times by the final day of bidding.
The company intends to use the fresh issue proceeds to expand its manufacturing facility at Samakhiyali in Kutch, Gujarat, set up a hybrid wind and solar power plant, repay debt, and fund general corporate purposes.
