German Green Steel and Power Sets IPO Price Band at ₹132–₹139 to Raise ₹304 Crore

Gujarat-based steel manufacturer German Green Steel and Power Limited has fixed the price band for its initial public offering (IPO) at ₹132 to ₹139 per equity share. The book-built issue is scheduled to open for subscription on Thursday, September 25, and will close on Monday, September 29. Bidding for anchor investors will take place for a single day on Wednesday, September 24.

At the upper end of the price band, the company plans to raise approximately ₹303.9 crore, implying a post-issue equity valuation of around ₹1,047.35 crore.

Issue Structure and Quota Allocation

The public offer, carrying a face value of ₹10 per equity share, consists of a fresh issue of shares worth up to ₹290 crore alongside an Offer for Sale (OFS) of up to ₹13.9 crore.

Investors can bid for a minimum lot size of 107 equity shares and in multiples of 107 shares thereafter. The issue allocation is divided according to standard regulatory provisions:

• Qualified Institutional Buyers (QIBs): Not more than 50% of the net issue
• Non-Institutional Investors (NIIs): Not less than 15% of the net issue
• Retail Individual Investors (RIIs): Not less than 35% of the net issue

The shares are proposed to be listed on both the BSE and the National Stock Exchange of India (NSE). Bigshare Services Private Limited is acting as the registrar to the issue.

Objects of the Issue

German Green Steel and Power intends to utilize the fresh issue proceeds primarily to strengthen operational capacity and optimize its balance sheet.

Key deployment priorities include:

• Funding capital expenditure requirements towards the expansion of its manufacturing facility situated at Samakhiali in Kutch, Gujarat
• Investing in a captive hybrid wind and solar power generation project to support low-carbon manufacturing
• Prepayment or scheduled repayment, in full or in part, of certain outstanding borrowings availed by the company
• General corporate purposes

Business and Operational Footprint

Originally incorporated in 2008 as Haq Enterprises Private Limited, the company transitioned through name changes before being christened German Green Steel and Power Limited. It operates as a vertically integrated manufacturer in western India, holding an established footprint across Gujarat.

The company's primary product portfolio encompasses Thermo-Mechanically Treated (TMT) bars spanning 8 mm to 40 mm sizes, mild steel (MS) billets, and sponge iron. It markets its core construction reinforcement steel under the "German TMT" brand. Operations are driven out of two primary Gujarat-based manufacturing sites—an integrated facility at Samakhiali and an additional facility at Viramgam operated through its subsidiary, German TMX Private Limited. By recycling ferrous scrap and integrating renewable captive power capabilities, the firm has positioned itself towards sustainable, energy-efficient steel making in the domestic market.

Tags: German Green Steel and Power IPO BSE NSE SEBI Steel Sector