Now Reading: German Green Steel and Power lists at premium after 30x subscription
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German Green Steel and Power lists at premium after 30x subscription
German Green Steel and Power lists at premium after 30x subscription
German Green Steel and Power made a positive debut on the BSE and NSE on Monday, 5 October, listing at Rs 143.50 on the BSE, a premium of 3.24% over the IPO price of Rs 139. On the NSE, the stock opened at Rs 142, a premium of 2.16%, CNBCTV18.com reports.
The IPO, which ran from 25 September to 29 September, was subscribed 30.42 times overall. The retail portion was subscribed 23.98 times, while non-institutional investors bid 56.77 times their portion and qualified institutional buyers 21.91 times. The company raised Rs 303.9 crore at the upper end of the Rs 132 to Rs 139 price band.
Proceeds from the fresh issue of Rs 290 crore will fund capacity expansion at the Samakhiyali facility in Kutch, a hybrid wind and solar power plant, and repayment of borrowings. The company reported revenue of Rs 1,678.98 crore and net profit of Rs 79.88 crore for FY26.
Indian Opinion Analysis
Both outlets cover the debut as a straight market event, with no editorial slant. NDTV Profit leads on the grey market premium ahead of listing, while CNBCTV18.com provides the fuller picture including the 30x subscription, anchor book details, and use of IPO proceeds. Neither outlet criticises or praises the government, the company, or the market response. The coverage is uniform straight reporting, the key difference is depth, with CNBCTV18.com carrying the more comprehensive story including financials and business expansion plans. The next concrete item is the stock's subsequent trading performance.
Coverage: 2 sources, 2 neutral
Sources (2): ndtvprofit.com (neutral report), cnbctv18.com (neutral report)
This brief was synthesised by AI from the 2 sources linked above, so one read covers every framing they carry. Methodology and corrections.
