German Green Steel IPO - Price Band, GMP & Subscription Details

German Green Steel and Power Limited was incorporated in 2008 as Haq Enterprises and adopted its current name in January 2024. It is headquartered in Ahmedabad, Gujarat, and works in the steel sector as a vertically integrated iron and steel manufacturer.

The company manufactures TMT bars, MS billets and sponge iron, with its "German TMT" brand holding a notable presence in Gujarat's TMT bars segment, and its TMT bar manufacturing capabilities range from 8 mm to 40 mm. Its business operates mainly on a B2B basis, serving distributors, dealers and institutional customers, including corporates in roadways, engineering services, thermal plants and real estate. Its manufacturing facility is located at Samakhiyali, Kutch, Gujarat, where about 67.72% of energy requirements were met by captive and renewable power plants as of December 2024, and it plans a second hybrid wind and solar plant to further reduce dependence on the grid. The promoters are Inamulhaq Shamsulhaq Iraki, Abdulhaq Shamsulhaq Iraki and Ibrarulhaq Inamulhaq Iraki.

Revenue from operations grew at a CAGR of about 12.53% from Rs 892.25 crore in FY22 to Rs 1,129.78 crore in FY24, as per the DRHP filed on June 30, 2025. The IPO is a mainboard book-built issue on the NSE and BSE, comprising a fresh issue of up to Rs 450 crore and an offer for sale of up to 20 lakh equity shares by the promoters, with the company also retaining the option of a pre-IPO placement of up to 20% of the fresh issue size. Net proceeds from the fresh issue are proposed to be used for capital expenditure on expansion of the Samakhiyali manufacturing facility and a hybrid wind and solar power plant (about Rs 226.33-325.21 crore, as reported across DRHP summaries), repayment of certain borrowings (about Rs 7.70-55.01 crore), and general corporate purposes.