About German Green Steel & Power IPO
German Green Steel and Power IPO Details
German Green Steel and Power IPO is a 100% book-built issue comprising a fresh issue of ₹450 crore and an offer for sale (OFS) of 20 lakh equity shares, with a face value of ₹10 per share. The company filed its DRHP with SEBI on June 29, 2026.
The price band and official date of subscription and listing will be announced by the company later, but the shares are supposed to be listed on the BSE and the NSE platforms. The book-running lead manager (BRLM) of the issue is Systematix Corporate Services Ltd. and Emkay Global Financial Services Ltd., while the registrar to the issue is Bigshare Services Pvt. Ltd.
German Green Steel and Power IPO Date & Timeline
German Green Steel and Power Ltd. officially filed its Draft Red Herring Prospectus (DRHP) on June 29, 2026. However, the specific German Green Steel and Power IPO date and subscription timeline remain unannounced. Following regulatory approval, the company will finalise the price band and bidding dates. Once cleared, the schedule for anchor allotment, public bidding and the final listing on the exchange will be formally disclosed.
German Green Steel & Power IPO Timeline
| IPO Open Date | - |
| IPO Close Date | - |
| Tentative Allotment | - |
| Initiation of Refunds | - |
| Credit of Shares to Demat | - |
| Tentative Listing Date | - |
| Cut-off time for UPI mandate confirmation | - |
German Green Steel & Power IPO Details
| Detail | Description |
|---|---|
| IPO Date | - |
| Listing Date | - |
| Face Value | ₹ 10 per share |
| Issue Price Band | - |
| Lot Size | - |
| Sale Type | Fresh Capital & OFS |
| Total Issue Size | [.] shares (agg. up to ₹ 450 Cr) |
| Reserved for Market Maker | - |
| Fresh Issue(Ex Market Maker) | Up to [●] Equity Shares of face value of ₹10 each aggregating up to ₹ 450 Cr |
| Offer for Sale | 20,00,000 shares of ₹10 (agg. up to ₹[.] Cr) |
| Net Offered to Public | - |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 5,26,47,888 shares |
| Share Holding Post Issue | - |
German Green Steel and Power IPO GMP (Grey Market Premium)
“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.
The German Green Steel and Power IPO GMP is currently trading at ₹[.], reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹[.], which is [.]% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.
Company Background
German Green Steel and Power Ltd. was incorporated on July 9, 2008, as "Haq Enterprises Private Limited" in Gujarat, undergoing several strategic name changes to become "Haq Steels and Metaliks Private Limited" in April 2018 and finally "German Green Steel and Power Limited" in January 2024.
The company is a vertically integrated iron and steel manufacturer primarily operating in the western region of India, with a strong presence in Gujarat, with a main focus on TMX bars. They have two manufacturing facilities in Gujarat, one in Samakhiyali and the other in Viramgam. Their manufacturing facility mainly comprises TMT bars (ranging from 8 mm to 40 mm), MS Billets and Sponge Iron.
Operations & Product Range
The key operating strategy model of German Green Steel and Power Ltd. revolves around vertical integration in the steel industry. The range of products offered by the company comprises sponge iron, MS billets and TMT bars in different variations such as Fe500, Fe550, D series (ductile), CRS series (corrosion-resistant steel), varying between 8mm and 40 mm. With this, the firm maintains strict quality checks and better profit margins in the production process.
Facilities & Capacity
German Green Steel & Power Ltd. manufactures in two plants in Ahmedabad, Gujarat state. Its premier Samakhiyali Plant in the district of Kutch covers an area of about 524,673 square meters and is a fully integrated plant that manufactures sponge iron, billets and TMT bars along with a captive power plant. While another plant at Viramgam in the district of Ahmedabad, which is managed via its material company called German TMX Private Limited.
Brands & Market Presence
German Green Steel & Power Ltd. has built up an impressive reputation for itself in the Gujarat region due to its emphasis on quality-certified TMT bars. It functions mainly in a B2B business format, catering to a wide range of customers that include institutions, wholesalers and a chain of more than 300 dealers. The name “German” highlights the company’s dedication to precise engineering and superior industry standards within the national steel industry.
Revenue Streams & Business Model
The primary revenue channel of German Green Steel and Power Ltd. comes from the sale of TMT bars, MS billets and sponge iron to distributors, dealers and institutional clients. In FY2024, the company reported total income of ₹1,137.54 crore and assets were reported at ₹559.73 crore. By operating as a vertically integrated player, the company captures value at multiple stages of the steel-making process, while captive power capacity helps mitigate the risks of high energy costs.
Management & Shareholding
German Green Steel and Power Ltd. is promoted by Inamulhaq Shamsulhaq Iraki, Abdulhaq Shamsulhaq Iraki and Ibrarulhaq Inamulhaq Iraki, who collectively held more than 95% stake before the IPO. But after the IPO, the promoters will see a dilution in the shareholding as the offering consists of 20 lakh equity shares of OFS.
Board & Key Management
The leadership of German Green Steel and Power Ltd. is led by a team of experts with many years of experience. Inamulhaq Shamsulhaq Iraki serves as the Chairman and gives strategic direction to the firm. The daily operations are managed by Abdulhaq Shamsulhaq Iraki, the Managing Director, along with Whole-Time Directors Ibrarulhaq Inamulhaq Iraki and Nareshkumar Punjiram Patel. To ensure good governance, the board includes Independent Directors Biswajit Adhikari, Indu Gupta Rao, Intajhusen Imamkhan Malek and Sanjay Kumar Gupta for honest oversight. Together, this team uses its knowledge to help the company grow and stay successful.
German Green Steel & Power IPO Financial Information
Latest Revenue
987.32
₹ Crore
Profit After Tax
32.08
₹ Crore
Net Worth
233.39
₹ Crore
Total Borrowing
346.80
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 31 Dec 2024 | 930.46 | 987.32 | 32.08 | 233.39 | — | 346.80 | |||
| 31 Mar 2024 | 559.73 | 1,137.54 | 41.67 | 176.06 | — | 198.39 | |||
| 31 Mar 2023 | 374.59 | 1,130.20 | 31.20 | 134.40 | — | 141.67 | |||
| 31 Mar 2022 | 350.28 | 901.87 | 34.17 | 107.06 | — | 151.70 | |||
| Amount in ₹ Crore | |||||||||
German Green Steel & Power Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | - |
| ROCE | - |
| Debt/Equity | 1.13x |
| RoNW | 23.67% |
| PAT Margin | 3.69% |
| EBITDA Margin | 6.24% |
| Price to Book Value | - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 7.91 | - |
| P/E (x) | - | - |
German Green Steel and Power IPO Objectives
The company intended to utilise the German Green Steel and Power IPO proceeds for strategic purposes:
- • Funding capital expenditure for the expansion of the Samakhiyali manufacturing facility and the development of a hybrid wind and solar power plant
- • Prepayment or repayment of debt (in part or in full)
- • General corporate purposes
German Green Steel and Power IPO Review
German Green Steel and Power Ltd. is a vertically integrated iron and steel manufacturer primarily operating in the western region of India, with a strong presence in Gujarat, with a main focus on TMX bars; it manages two manufacturing units in Gujarat.
Financially, the company has shown a growing and healthy financial statement for FY24; the total income was reported at ₹1,137.54 crore and profit after tax (PAT) at ₹41.67 crore. This issue mainly aims at funding capital expenditure for the expansion of the Samakhiyali manufacturing facility and the development of a hybrid wind and solar power plant.
Investors should be mindful of regional concentration, with manufacturing and distribution predominantly in Gujarat, making the company susceptible to state-level economic or regulatory changes. The steel sector is also inherently cyclical and sensitive to global raw material price fluctuations. Overall, the company presents a pure-play manufacturing opportunity with a strong ESG focus through its "green" power initiatives, backed by a veteran management team with a proven track record.
Conclusion
The German Green Steel and Power IPO is an opportunity for investors to invest in a growing company with its vertically integrated facilities, a strong foothold in the Gujarat market and an aggressive push toward renewable energy. This issue mainly aims at funding the capital expenditure for the expansion of the Samakhiyali manufacturing facility and the development of a hybrid wind and solar power plant and debt reduction to strengthen the balance sheet.
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Competitive Strengths
Vertically integrated manufacturing setup capturing value across the production chain, including captive power generation.
Experienced promoters with over three decades of leadership in the iron and steel industry.
Extensive distribution network in Gujarat with established long-term relationships with distributors, dealers and institutional clients.
Strong brand recall driven by a diverse portfolio of quality-tested TMT bars and MS billets.
| Sr.no | Description | Date | File |
|---|---|---|---|
| 1 | SEBI/Exchange approval received | 20/10/2025 | - |
| 2 | Filed with SEBI/Exchange | 30/06/2025 | View DRHP |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | — | ~₹14,000 - ₹15,000 |
| Individual investors (Retail) (Max) | 13-14 | — | Up to ₹2,00,000 |
| S-HNI (Min) | 14-15 | — | Over ₹2,00,000 |
| S-HNI (Max) | 66-70 | — | Up to ₹10,00,000 |
| B-HNI (Min) | 71+ | — | Over ₹10,00,000 |