German Green Steel and Power Limited’s Initial Public Offering to Open on Friday, September 25, 2026, Price Band set at Rs 132– Rs 139 Per Equity Share

Mumbai, September 22, 2026: German Green Steel and Power Limited, has fixed the price band of Rs 132/- to Rs 139/-per Equity Share of face value Rs. 10/- each for its initial public offering.

The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Friday, September 25, 2026, for subscription and close on Tuesday, September 29, 2026.

Investors can bid for a minimum of 107 Equity Shares and in multiples of 107 Equity Shares thereafter.

Equity shares outstanding as on date of the Red Herring Prospectus, are 5,44,85,888 equity shares of Rs. 10 each.

The IPO, with a face value of Rs 10, is a fresh issue up to Rs 290 crore and an offer for sale for up to 10,00,000 equity shares by Promoter Selling Shareholders, namely Inamulhaq Shamsulhaq Iraki and Abdulhaq Shamsulhaq Iraki. The promoters have been associated with the industry since 1976 and represent the third generation of the family actively involved in driving the business.

The Company has, in consultation with the book-running lead managers, undertaken a Pre-IPO Placement of 18,38,000 fully paid-up equity shares at an issue price of ₹270 per equity share (including a premium of ₹260 per equity share) for ₹49.62 crore by way of a private placement on September 26, 2025. The size of the fresh issue has been reduced by ₹49.62 crore pursuant to the Pre-IPO Placement and the revised size of the fresh issue is up to ₹290 crore.

 

The proceeds from its Fresh Issue worth Rs 226.33 crore will be utilized for funding the capital expenditure requirements of the Company towards expansion of its manufacturing facility at Samakhiyali, Kutch, Gujarat and hybrid wind and solar power plant (“Project”), Rs 7.70 crore for prepayment or re-payment, in full or in part, of certain outstanding borrowings availed by the company, and remaining proceeds of the Net Proceeds will be utilized for general corporate purpose.

 

The Offer is being made through the book-building process, in line with SEBI ICDR Regulations, with not more than 50% of the Offer reserved for Qualified Institutional Buyers (QIBs), not less than 15% of the Offer for Non-Institutional Investors (NIIs), and not less than 35% of the Offer for Retail Individual Investors (RIIs).

 

Incorporated in 2008, the Company is a vertically integrated iron and steel manufacturer primarily operating in the western region of India, with a presence in Gujarat with a main focus on TMT Bars (Source: CARE Report). The Company has two manufacturing facilities located in Gujarat (Manufacturing Facilities), one located at Samakhiyali (“Samakhiyali Facility”) which is vertically integrated, and the other is located at Viramgam (“Viramgam Facility”) which is operated through its material subsidiary- German TMT Private Limited (formerly known as German TMX Private Limited).

Steel scrap is one of its primary raw materials used in the manufacturing process, enabling it to recycle ferrous material into finished steel products. As on the date of the Red Herring Prospectus, its product portfolio comprises mainly of TMT Bars, MS Billets and Sponge Iron.

The Company’s TMT bar manufacturing capabilities range from 8 mm to 40 mm. The Company and its Material Subsidiary have been awarded 4-star and 5-star Green Steel ratings—the highest rating achievable (as on the date of the RHP)—for their TMT bars by the National Institute of Secondary Steel Technology, Mandi Gobindgarh (India).

Additionally, the Company has expanded its product portfolio by entering the value-added steel products segment with the commencement of production of cut and bend bars and epoxy coated TMT bars. As part of its continued focus on increasing the contribution of value-added and specialised steel products, the company intends to further increase its presence in the production and sale of value-added products such as stainless-steel round bars and cut and bend bars, which are pre-cut and shaped steel bars used in construction, epoxy coated TMT bars and corrosion resistant TMT bars.

Through these initiatives, the Company seeks to broaden its product offerings, cater to evolving customer requirements and strengthen its position across the steel value chain. It also operates a robust transportation fleet to support efficient last-mile deliveries. In 2025, the Company entered into a contract manufacturing agreement with JSW One Distribution Limited (JODL) to manufacture quality products.

As of March 31, 2026, approximately 75.44% of the Company’s energy requirements are met by its own captive power plant and renewable energy plant. The Company intends to further reduce its reliance on electricity grid by constructing an additional hybrid wind solar plant.

The Company is currently in the process of expanding the installed capacity of sponge iron at its Samakhiyali Facility from 66,000 Metric Tonne Per Annum to approximately 1,48,500 Metric Tonne Per Annum, MS billets production capacity from 2,14,500 tonnes per annum to 4,12,500 tonnes per annum, and existing installed TMT Bars production capacity at the Samakhiyali Facility from 181,500 Metric Tonne Per Annum to 346,500 Metric Tonne Per Annum.

In addition, the Company is setting up a new hybrid wind-solar power plant with a total capacity of 25.20 MW (solar: 10.8 MW DC; wind: 14.40 MW) in Bharuch district, Gujarat out of which it has already commissioned a hybrid wind solar plant of 16.20 MW (Solar: 7.2 MW DC; Wind: 9.0 MW).

Its revenue from operations was Rs 1,678.98 crore during Fiscal 2026 as against Rs 1,129.78 crore during Fiscal 2024. Its net profit after tax was Rs 79.88 crore during Fiscal 2026 as against Rs 41.66 crore during Fiscal 2024.

Systematix Corporate Services Limited, Emkay Global Financial Services Limited, and Pantomath Capital Advisors Private Limited are the book-running lead managers, and Bigshare Services Private Limited is the registrar of the offer.

 

The equity shares are proposed to be listed on NSE and BSE.