German Green Steel Makes A Steady Market Entry, Rs 304 Crore IPO Delivers 3.23% BSE Listing Gain

Mumbai: German Green Steel and Power Ltd made a positive stock market debut on Monday, with its shares listing above the IPO issue price on both the BSE and NSE.

The Gujarat-based iron and steel manufacturer entered the market after its Rs 304 crore initial public offering attracted strong demand from investors.

German Green Steel Share Listing Price

On the BSE, German Green Steel shares opened at Rs 143.50, a gain of 3.23 per cent over the issue price of Rs 139.

The stock began trading at Rs 142 on the NSE, giving investors a listing premium of 2.15 per cent. The company’s market valuation stood at Rs 1,004.03 crore.

The opening prices reflected a premium despite the strong subscription recorded during the public offer.

IPO Subscription And Issue Details

The German Green Steel IPO received bids for 28.98 times the shares offered by the final day of bidding on Tuesday last week.

The public issue had a price band of Rs 132 to Rs 139 per equity share. It included a fresh issue worth up to Rs 290 crore and an offer for sale of 10 lakh equity shares.

The fresh issue raises funds for the company, while the offer for sale involves the sale of existing shares.

IPO Funds To Support Expansion

German Green Steel plans to use the fresh issue proceeds to expand its manufacturing facility at Samakhiyali in Gujarat’s Kutch district.

The funds will also support a hybrid wind and solar power plant, debt repayment and general corporate purposes.

The proposed spending covers manufacturing capacity, power infrastructure and financial requirements, as outlined in the company’s IPO plans.

German Green Steel Business Profile

German Green Steel and Power operates as a vertically integrated iron and steel manufacturer.

Its product portfolio includes TMT bars, mild steel billets and sponge iron. The company’s manufacturing expansion and renewable power project are among the stated priorities for the capital raised