German Green Steel IPO: Step-by-step guide to check allotment status, fresh GMP & more

German Green Steel & Power is set to finalize the basis of allotment of its equity shares on Monday, September 28. The investors applying for the metal and steel issue may check the status of their applications on the websites of the registrar, NSE or BSE. However, those who shall not get the allotment will see their IPO mandates revoked by the same day.  

What are the odds of getting shares or allotment odds in the German Green Steel & Power IPO? Based on the bidding, here are the allotment odds for the German Green Steel & Power IPO:

• Big HNI category (bNII): 1 investor out of 12 investors will get 1,554 shares (Probability: 8.33 per cent)
• Small HNI category(sNII): 1 investor out of 55 investors will get 1,554 shares (Probability: 1.81 per cent)
• Retail category: 1 investor out of 7 investors will get 111 shares (Probability: 14.29 per cent)

However, the actual allotment will depend on the IPO’s prescribed allocation rules and the number of valid applications received. Therefore, the any figure should be considered as an indicative probability only, and not a guaranteed allotment ratio for the given IPO.

How the applicants, who had bid for the issue of German Green Steel & Power IPO can check allotment status on the website of registrar:

• Go to the web portal of Bigshare Services Pvt Ltd
• Select the IPO in dropbox whose name will be populated only if the allotment is finalized
• You shall be required to select either one of the three modes: Application number/CAF No, Beneficiary ID, or PAN ID.
• Enter the details of the mode you selected in Step 2
• For security purposes, fill the captcha accurately
• Hit Search to know your allotment status.  

How the applicants, who had bid for the issue of German Green Steel & Power IPO can check allotment status on NSE

• Visit NSE's IPO allotment page
• Select ‘Equity & SME IPO Bid details’.
• Under ‘Select Symbol’, choose ‘GERMAN’.
• Put in your PAN No. and Application No.
• Click on ‘Submit’ to proceed

How the applicants, who had bid for the issue of Adroit Industries IPO can check allotment status on BSE:

• Visit BSE's IPO allotment page
• Under the issue type, click Equity
• Under the issue name, select German Green Steel & Power Limited in the dropbox
• Write the application number
• Add the PAN card ID
• Click on 'I am not a Robot' and hit search button

To recall, the IPO of German Green Steel & Power was sold in the price band of Rs 132-139 apiece between September 25 and September 29. It sold the issue with a lot size of 107 equity shares and its multiples thereafter. It raised a total of Rs 304 crore via IPO, with issue being overall subscribed a 28.98 times, fetching over 16.08 lakh applications and bids for over Rs 6,470 crore.

On an individual basis, the portion reserved for qualified institutional bidders (QIBs) saw a subscription of 20.93 times, while the portion for non-institutional investors (NIIs) was subscribed 54.03 times. The allocation for retail investors was subscribed 22.83 times during the three-day subscription period.

Following the strong subscription, the grey market premium (GMP) of German Green Steel & Power has seen a sharp correction. Last heard, German Green Steel & Power IPO was commanding a GMP of 13-15 apiece, suggesting a listing pop of 10-11 per cent the investors. Its premium stood around Rs 25 during the bidding period.

Systematix Corporate Services, Emkay Global Financial Services and Pantomath Capital Advisors are the book running lead managers of German Green Steel IPO, while Bigshare Services is the registrar of the issue. Refunds of the bidding amount are expected to be processed by Thursday, October 01. Shares of the company shall be listed on both BSE Ltd and NSE Ltd on Monday, October 05.