German Green Steel and Power (GTMT) IPO GMP today is Rs 3. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
Mainboard IPO
GERMAN
German Green Steel and Power (GTMT) IPO GMP, Subscription & Allotment Status Today
German Green Steel and Power is a vertically integrated iron and steel manufacturer primarily operating in the western region of India. The company focuses on manufacturing thermo-mechanically treated bars, mild steel billets, and sponge iron. It serves a diversified client base comprising distributors, dealers, and direct institutional customers across sectors like real estate, roadways, and thermal plants. The company operates two manufacturing facilities located in Samakhiyali and Viramgam in Gujarat. A notable feature of its operations is the integration of captive coal-based power plants, waste heat recovery systems, and hybrid wind and solar power setups, which provide cost-effective energy for its intensive manufacturing requirements. The company generates revenue predominantly from domestic sales within Gujarat, complemented by minor international exports, positioning itself as a key supplier in the regional steel supply chain.
- Price Band
- ₹132.00 - ₹139.00
- Lot Size
- 107 Shares
- Bidding Closes
- 29 Sept 2026
- Listing Date
- 05 Oct 2026
Current GMP Status
₹3
+2.16% vs upper band
Est. Listing Gain
+2.16%
Last Trend
05 Oct 2026
Listing Price
₹142.00
Retail Entry
₹14,873
IPO Details
Complete IPO information
| Current GMP | ₹3 |
|---|---|
| Estimated Listing Gain | +2.16% |
| Price Band | ₹132.00 - ₹139.00 |
| Issue Price | Approx ₹303.90 Crores |
| Listing Price | ₹142.00 |
| Lot Size | 107 Shares |
| Issue Type | Mainboard |
| Registrar | Bigshare Services Pvt. Ltd. |
| Exchange | BSE, NSE |
| Retail Quota | TBA |
| Overall Subscription | 28.98x |
| Listing Date | 05 Oct 2026 |
| Minimum Investment | ₹14,873 |
Demand Tracker
Subscription Status
| Category | Shares Reserved | Shares Applied | Subscription (x) |
|---|---|---|---|
| QIB | 45.78 | 958.06 | 20.93x |
| NII | 34.45 | 1861.65 | 54.03x |
| Retail | 80.39 | 1835.24 | 22.83x |
| Overall Subscription | 160.63 | 4654.94 | 28.98x |
Day-wise demand
German Green Steel and Power (GTMT) IPO subscription status day-wise
| Day | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Day 2 (28 Sept) | 1.32x | 2.46x | 1.65x | 1.73x |
| Day 3 (29 Sept) | 1.34x | 7.82x | 6.15x | 5.14x |
Subscription in times (x) at the end of each bidding day. Today's row updates through the day.
Company data
{German Green Steel and Power (GTMT)}: financials, valuation & listing
Listing details
| Listing date | 05 Oct 2026 |
|---|---|
| NSE symbol | GERMAN |
| BSE code | 544957 |
| ISIN | INE0D4501011 |
| Offer price | ₹132 – ₹139 |
| Face value | ₹10 |
| Listing price | ₹142 |
Valuation
| Return on equity (ROE) | 18.86% |
|---|---|
| Return on capital employed (ROCE) | 19.31% |
| EBITDA margin | 9.94% |
| PAT margin | 4.76% |
| Debt to equity | 0.79 |
| EPS | 14.91 (Basic) |
| P/E ratio | N/A |
| Return on net worth | 18.86% |
| NAV per share | 77.76 |
Financial history
| Period | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | 1,137.54 Cr. | 1,082.15 Cr. | 41.67 Cr. | 559.73 Cr. |
| 2025 | 1,517.21 Cr. | 1,438.16 Cr. | 59.94 Cr. | 1,015.20 Cr. |
| 2026 | 1,685.38 Cr. | 1,575.57 Cr. | 79.89 Cr. | 1,220.24 Cr. |
Peer comparison
| Company | Income | EPS | P/E | RoNW | NAV |
|---|---|---|---|---|---|
| Beekay Steel Industries Ltd | 1196.94 Cr. | 18.94 | 22.54 | 3.49% | 548.18 |
| Gallant Ispat Limited | 4478.52 Cr. | 20.07 | 27.80 | 14.60% | 137.44 |
| Kamdhenu Limited | 774.70 Cr. | 2.78 | 14.57 | 19.77% | 14.06 |
| MSP Steel & Power Limited | 2846.04 Cr. | 0.60 | 61.57 | 3.28% | 18.18 |
| VMS TMT Limited | 840.20 Cr. | 4.95 | 8.92 | 9.22% | 45.97 |
Use of proceeds
| Purpose | Amount (₹ crore) |
|---|---|
| Funding capital expenditure for Samakhiyali facility expansion and power plant | 226.33 (78.04%) |
| Prepayment or repayment of certain outstanding borrowings | 7.7 (2.66%) |
| General corporate purposes | 55.97 (19.30%) |
Key dates
| UPI mandate deadline | 29 Sept 2026 |
|---|---|
| Allotment finalised | 30 Sept 2026 |
| Refund initiation | 01 Oct 2026 |
| Shares credited | 01 Oct 2026 |
| Mandate end date | 14 Oct 2026 |
| Anchor lock-in ends (50%) | 29 Oct 2026 |
| Anchor lock-in ends (remaining) | 28 Dec 2026 |
Grey Market Premium (GMP) data is entirely unofficial and speculative, and is influenced by market sentiment, demand and supply for IPO shares, and market rumors. While GMP can provide an indication of the expected IPO listing price, it may not always be accurate and does not guarantee the actual listing price.
Head-to-head
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Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, German Green Steel and Power (GTMT) is priced at ₹139 per share. With a minimum lot size of 107 shares, a retail investor applying for one lot would need approximately ₹14,873 to participate in this Mainboard issue.
The latest recorded Grey Market Premium for German Green Steel and Power (GTMT) stands at ₹3, implying an estimated listing gain of around 2.16% over the issue price if it holds until listing. This is down ₹2 from its previously recorded level. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
As of the latest update, German Green Steel and Power (GTMT)'s IPO was subscribed 28.98x overall, with a category-wise breakdown of Retail 22.83x, QIB 20.93x, NII 54.03x.
Mainboard IPOs list on the main platform of BSE/NSE, typically involve larger issue sizes, and draw participation across retail, HNI and institutional (QIB) investor categories.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
25 Sept 2026
✓
Bidding Closes
29 Sept 2026
✓
Allotment
30 Sept 2026
✓
Listing
05 Oct 2026
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 05 Oct 2026 | ₹10.00 | -₹2.00 | 7.19% |
| 03 Oct 2026 | ₹12.00 | -₹2.00 | 8.63% |
| 02 Oct 2026 | ₹14.00 | +₹1.00 | 10.07% |
| 01 Oct 2026 | ₹13.00 | - | 9.35% |
| 30 Sept 2026 | ₹13.00 | -₹12.00 | 9.35% |
| 29 Sept 2026 | ₹25.00 | -₹4.00 | 17.99% |
| 28 Sept 2026 | ₹29.00 | +₹1.00 | 20.86% |
| 26 Sept 2026 | ₹28.00 | - | 20.14% |
| 25 Sept 2026 | ₹28.00 | +₹4.00 | 20.14% |
| 24 Sept 2026 | ₹24.00 | +₹9.00 | 17.27% |
| 23 Sept 2026 | ₹15.00 | - | 10.79% |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 Lot | 107 | ₹14,873 |
| Retail Maximum | 13 Lot | 1,391 | ₹1,93,349 |
| S-HNI Minimum | 14 Lot | 1,498 | ₹2,08,222 |
| S-HNI Maximum | 67 Lot | 7,169 | ₹9,96,491 |
| B-HNI Minimum | 68 Lot | 7,276 | ₹10,11,364 |
Swipe to see more →
Fund Utilization
Objects of the Issue & Official Documents
Analysis
German Green Steel and Power (GTMT) IPO Details
German Green Steel and Power (GTMT) IPO is a book building issue with an issue size of Approx ₹303.90 Crores. The IPO comprises a fresh issue of Approx ₹290 Crores and is proposed to be listed on the BSE, NSE. The IPO price band is set at ₹132 – ₹139 per equity share.
| Particular | Details |
|---|---|
| IPO Open Date | 25 Sept 2026 |
| IPO Close Date | 29 Sept 2026 |
| IPO Price Band | ₹132 – ₹139 |
| Issue Size | Approx ₹303.90 Crores |
| Fresh Issue | Approx ₹290 Crores |
| Issue Type | Mainboard |
| IPO Listing | BSE, NSE |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
Note: The above German Green Steel and Power (GTMT) IPO details are based on the information provided for the issue.
Analysis
German Green Steel and Power (GTMT) IPO Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 25 Sept 2026 |
| IPO Close Date | 29 Sept 2026 |
| Basis of Allotment | 30 Sept 2026 |
| Refunds | 01 Oct 2026 |
| Credit to Demat Account | 01 Oct 2026 |
| IPO Listing Date | 05 Oct 2026 |
Note: The timeline for German Green Steel and Power (GTMT) IPO is tentative and subject to change.
Analysis
German Green Steel and Power (GTMT) Objects of the Issue & Utilisation of Proceeds
| Purpose | Crores |
|---|---|
| Purpose | INR crores (%) |
| Funding capital expenditure for Samakhiyali facility expansion and power plant | 226.33 (78.04%) |
| Prepayment or repayment of certain outstanding borrowings | 7.7 (2.66%) |
| General corporate purposes | 55.97 (19.30%) |
Note: Objectives are as specified in the DRHP/RHP documents of German Green Steel and Power (GTMT).
Analysis
German Green Steel and Power (GTMT) Company Financials
| Period | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | 1,137.54 Cr. | 1,082.15 Cr. | 41.67 Cr. | 559.73 Cr. |
| 2025 | 1,517.21 Cr. | 1,438.16 Cr. | 59.94 Cr. | 1,015.20 Cr. |
| 2026 | 1,685.38 Cr. | 1,575.57 Cr. | 79.89 Cr. | 1,220.24 Cr. |
Note: Financial numbers for German Green Steel and Power (GTMT) are in ₹ Crores unless stated otherwise.
Analysis
German Green Steel and Power (GTMT) Company Valuation – FY2026
| KPI | Values |
|---|---|
| ROE | 18.86% |
| ROCE | 19.31% |
| EBITDA Margin | 9.94% |
| PAT Margin | 4.76% |
| Debt to Equity Ratio | 0.79 |
| Earning Per Share (EPS) | 14.91 (Basic) |
| Price/Earning P/E Ratio | - |
| Return on Net Worth (RoNW) | 18.86% |
| Net Asset Value (NAV) | 77.76 |
Note: Valuation KPIs for German Green Steel and Power (GTMT) are computed for FY2026.
Analysis
German Green Steel and Power (GTMT) IPO Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Beekay Steel Industries Ltd | 18.94 | 22.54 | 3.49% | 548.18 | 1196.94 Cr. |
| Gallant Ispat Limited | 20.07 | 27.80 | 14.60% | 137.44 | 4478.52 Cr. |
| Kamdhenu Limited | 2.78 | 14.57 | 19.77% | 14.06 | 774.70 Cr. |
| MSP Steel & Power Limited | 0.60 | 61.57 | 3.28% | 18.18 | 2846.04 Cr. |
| VMS TMT Limited | 4.95 | 8.92 | 9.22% | 45.97 | 840.20 Cr. |
Note: Peer group comparisons for German Green Steel and Power (GTMT) are sourced from DRHP filings.
FAQ
German Green Steel and Power (GTMT) IPO FAQs
German Green Steel and Power (GTMT) IPO price band is Rs 132.00 to Rs 139.00. Check the latest issue price, lot size and GMP together before applying.
German Green Steel and Power (GTMT) IPO open date is 25 Sept 2026, close date is 29 Sept 2026, and listing date is 05 Oct 2026.
German Green Steel and Power (GTMT) IPO lot size is 107 shares. The minimum retail investment is Rs 14,873.
German Green Steel and Power (GTMT) is classified as a Mainboard IPO. This helps investors quickly understand the issue category and exchange segment.
German Green Steel and Power (GTMT) IPO subscription status currently shows Retail 22.83x, QIB 20.93x, NII 54.03x, Overall 28.98x.
German Green Steel and Power is a vertically integrated iron and steel manufacturer primarily operating in the western region of India. The company focuses on manufacturing thermo-mechanically treated bars, mild steel billets, and sponge iron. It serves a diversified client base comprising distributors, dealers, and direct institutional customers across sectors like real estate, roadways, and thermal plants. The company operates two manufacturing facilities located in Samakhiyali and Viramgam in Gujarat. A notable feature of its operations is the integration of captive coal-based power plants, waste heat recovery systems, and hybrid wind and solar power setups, which provide cost-effective energy for its intensive manufacturing requirements. The company generates revenue predominantly from domestic sales within Gujarat, complemented by minor international exports, positioning itself as a key supplier in the regional steel supply chain.
German Green Steel and Power (GTMT) IPO issue size is TBA and the expected allotment date is 30 Sept 2026.
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