German Green Steel and Power IPO opens on Sept 25: Check price band, issue size & key details
German Green Steel and Power IPO: Check IPO dates, issue size, lot size, key details, financial performance, IPO objectives and listing plans of the Gujarat-based steelmaker.
- Sep 22, 2026,
- Updated Sep 22, 2026 9:50 AM IST
Gujarat-based German Green Steel and Power has fixed the price band for its initial public offering at Rs 132-Rs 139 per equity share. The public issue will open for subscription on September 25 and close on September 29, while the anchor investor portion will open on September 24.
Investors can bid for a minimum of 107 shares and in multiples thereafter. At the upper end of the price band, the company is set to raise Rs 303.9 crore through the IPO and is expected to command a post-issue market capitalisation of around Rs 1,047.35 crore.
The IPO, with a face value of Rs 10 per equity share, comprises a fresh issue of up to Rs 290 crore and an offer for sale of up to Rs 13.9 crore. Of the total issue, 50 per cent has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors and 35 per cent for retail investors.
The company said the proceeds from the fresh issue will be used to fund capital expenditure for the expansion of its manufacturing facility at Samakhiali in Kutch, Gujarat, and for a hybrid wind-solar power plant. A part of the proceeds will also go towards the prepayment or repayment, in full or part, of certain outstanding borrowings, while the remaining amount will be used for general corporate purposes.
According to a CARE report cited in the company's draft red herring prospectus, German Green Steel and Power is a vertically integrated iron and steel manufacturer primarily operating in western India, with a strong presence in Gujarat and a focus on its TMX Bars brand.
Its product portfolio includes TMT bars, mild steel billets and sponge iron. The company manufactures TMT bars in sizes ranging from 8 mm to 40 mm and said it has developed German TMT as a popular TMT bar brand in Gujarat. It has two manufacturing facilities in Gujarat, one at Samakhiali and the other at Viramgam, which is operated through its material subsidiary, German TMX.
As of December 31, 2024, around 67.72 per cent of its energy requirements were met through its captive power and renewable energy plants. The company plans to further reduce its dependence on grid electricity by setting up an additional hybrid wind-solar power plant.
German Green Steel and Power's revenue from operations grew at a compound annual growth rate of 12.53 per cent from Rs 892.25 crore in FY22 to Rs 1,129.78 crore in FY24. EBITDA at a compound annual growth rate of 43.04 per cent from Rs 39.15 crore in FY22 to Rs 80.11 crore in FY24, while the EBITDA margin improved from 4.39 per cent to 7.09 per cent.
Profit after tax increased at a compound annual growth rate of 10.43 per cent from Rs 34.16 crore in FY22 to Rs 41.67 crore in FY24. For the nine-month period ended December 31, 2024, revenue from operations stood at Rs 979.79 crore, while EBITDA and profit after tax stood at Rs 68.18 crore and Rs 32.07 crore, respectively.
Systematix Corporate Services, Emkay Global and Pantomath Capital are the book-running lead managers to the issue, while MUFG Intime India is the registrar. The equity shares are proposed to be listed on the BSE and NSE, as the company prepares to open its IPO later this month.
Gujarat-based German Green Steel and Power has fixed the price band for its initial public offering at Rs 132-Rs 139 per equity share. The public issue will open for subscription on September 25 and close on September 29, while the anchor investor portion will open on September 24.
Investors can bid for a minimum of 107 shares and in multiples thereafter. At the upper end of the price band, the company is set to raise Rs 303.9 crore through the IPO and is expected to command a post-issue market capitalisation of around Rs 1,047.35 crore.
The IPO, with a face value of Rs 10 per equity share, comprises a fresh issue of up to Rs 290 crore and an offer for sale of up to Rs 13.9 crore. Of the total issue, 50 per cent has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors and 35 per cent for retail investors.
The company said the proceeds from the fresh issue will be used to fund capital expenditure for the expansion of its manufacturing facility at Samakhiali in Kutch, Gujarat, and for a hybrid wind-solar power plant. A part of the proceeds will also go towards the prepayment or repayment, in full or part, of certain outstanding borrowings, while the remaining amount will be used for general corporate purposes.
According to a CARE report cited in the company's draft red herring prospectus, German Green Steel and Power is a vertically integrated iron and steel manufacturer primarily operating in western India, with a strong presence in Gujarat and a focus on its TMX Bars brand.
Its product portfolio includes TMT bars, mild steel billets and sponge iron. The company manufactures TMT bars in sizes ranging from 8 mm to 40 mm and said it has developed German TMT as a popular TMT bar brand in Gujarat. It has two manufacturing facilities in Gujarat, one at Samakhiali and the other at Viramgam, which is operated through its material subsidiary, German TMX.
As of December 31, 2024, around 67.72 per cent of its energy requirements were met through its captive power and renewable energy plants. The company plans to further reduce its dependence on grid electricity by setting up an additional hybrid wind-solar power plant.
German Green Steel and Power's revenue from operations grew at a compound annual growth rate of 12.53 per cent from Rs 892.25 crore in FY22 to Rs 1,129.78 crore in FY24. EBITDA at a compound annual growth rate of 43.04 per cent from Rs 39.15 crore in FY22 to Rs 80.11 crore in FY24, while the EBITDA margin improved from 4.39 per cent to 7.09 per cent.
Profit after tax increased at a compound annual growth rate of 10.43 per cent from Rs 34.16 crore in FY22 to Rs 41.67 crore in FY24. For the nine-month period ended December 31, 2024, revenue from operations stood at Rs 979.79 crore, while EBITDA and profit after tax stood at Rs 68.18 crore and Rs 32.07 crore, respectively.
Systematix Corporate Services, Emkay Global and Pantomath Capital are the book-running lead managers to the issue, while MUFG Intime India is the registrar. The equity shares are proposed to be listed on the BSE and NSE, as the company prepares to open its IPO later this month.