New Delhi (Economy India): Gujarat-based German Green Steel and Power Ltd is set to launch its initial public offering (IPO) on September 25, with the company fixing a price band of Rs 132 to Rs 139 per equity share.
The public issue will remain open for subscription until September 29. At the upper end of the price band, the IPO is expected to raise about Rs 303.9 crore, comprising a fresh issue of shares and an Offer for Sale (OFS).
The company, an integrated iron and steel manufacturer, is raising capital primarily to expand its manufacturing facilities in Gujarat and strengthen its renewable power capabilities.
IPO Comprises Fresh Issue and Offer for Sale
The IPO comprises a fresh issue of equity shares worth up to Rs 290 crore and an Offer for Sale of up to 10 lakh equity shares, valued at approximately Rs 13.9 crore at the upper end of the price band.
The anchor investor portion of the issue will open for bidding on September 24, a day before the IPO opens for other investors.
The company has revised the size of the proposed issue from its earlier plan. According to reports, its June 2025 draft prospectus had proposed a fresh issue of Rs 450 crore and an OFS of 20 lakh shares. The issue was subsequently reduced.
Manufacturing Capacity Expansion in Gujarat
A substantial portion of the fresh issue proceeds will be used for capital expenditure at the company’s manufacturing facility at Samakhiyali in Kutch, Gujarat.
The company plans to expand its installed sponge iron production capacity from 66,000 MTPA to approximately 1,48,500 MTPA.
Its MS billets manufacturing capacity is planned to increase from 2,14,500 TPA to 4,12,500 TPA, while TMT bar production capacity at the Samakhiyali facility is expected to rise from 1,81,500 MTPA to 3,46,500 MTPA.
The expansion is aimed at increasing the company’s production capabilities across key stages of the steel value chain.
Renewable Power Investment
Alongside its manufacturing expansion, German Green Steel and Power plans to invest in a hybrid wind and solar power plant.
The company has said that the renewable power project will help strengthen its energy capabilities and reduce dependence on grid electricity.
According to information cited in the company’s IPO documents, a significant portion of its energy requirements has already been met through captive power and renewable energy plants. The proposed additional hybrid wind-solar project is expected to further support this strategy.
Part of IPO Proceeds to Reduce Debt
Apart from capital expenditure, the company plans to use a portion of the fresh issue proceeds for the prepayment or repayment of certain outstanding borrowings.
According to current IPO disclosures, around Rs 7.7 crore is earmarked for debt reduction, while the remaining proceeds will be used for general corporate purposes. The company’s total outstanding borrowings stood at around Rs 344.1 crore as of August 2026, according to a report on the IPO.
Minimum IPO Bid Size
Investors can bid for a minimum of 107 equity shares, with subsequent bids in multiples of 107 shares.
At the upper price band of Rs 139 per share, the minimum application amount would therefore be Rs 14,873.
The IPO has been structured with 50 per cent of the net issue reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors and 35 per cent for retail investors, according to IPO details reported on September 22.
German Green Steel’s Business
German Green Steel and Power is a vertically integrated iron and steel manufacturer with manufacturing facilities in Gujarat.
Its product portfolio includes TMT bars, mild steel billets and sponge iron. The company operates manufacturing facilities at Samakhiyali and Viramgam in Gujarat and markets its TMT products under the German TMT brand.
The company’s business model covers multiple stages of steel production, allowing it to manufacture key inputs and finished steel products within its operations.
Financial Performance
The company reported an improvement in its financial performance in the financial year ended March 2026.
Its profit after tax increased to around Rs 79.9 crore in FY2026, compared with Rs 59.9 crore in the previous year, representing growth of about 33.3 per cent.
Revenue during the year increased to approximately Rs 1,679 crore, compared with Rs 1,507.6 crore in FY2025, according to IPO-related disclosures reported on September 22.
German Green Steel IPO
| Particulars | Details |
|---|---|
| Company | German Green Steel and Power Ltd |
| IPO Open Date | September 25, 2026 |
| IPO Close Date | September 29, 2026 |
| Anchor Bidding | September 24, 2026 |
| Price Band | Rs 132–139 per share |
| Issue Size | About Rs 303.9 crore |
| Fresh Issue | Up to Rs 290 crore |
| Offer for Sale | Up to 10 lakh shares |
| Minimum Lot Size | 107 shares |
| Minimum Investment | Rs 14,873 at upper price band |
| Face Value | Rs 10 per share |
| Sector | Iron and Steel |
| Primary Use of Funds | Manufacturing expansion, renewable power and debt repayment |
IPO Listing Timeline
The anchor portion is scheduled to open on September 24, followed by the public issue from September 25 to September 29.
The company is expected to finalise share allotment on September 30, while its shares are expected to begin trading on the stock exchanges from October 5, according to current IPO timelines reported on September 22.
German Green Steel and Power’s IPO comes amid a busy primary market in India, with several companies accessing the capital markets during the September 21–25 week.
(Economy India)
