The company informed the bourses that it allocated 65,58,991 equity shares at Rs 139 per share to anchor investors.
FinTech BizNews Service
Mumbai, September 24, 2026: German Green Steel and Power Limited, which is a vertically integrated iron and steel manufacturer primarily operating with a presence in Gujarat with a main focus on TMT Bars, has garnered Rs 91.16 crore from anchor investors ahead of its initial public offering, which opens for public subscription on Friday, September 25, 2026.
The company informed the bourses that it allocated 65,58,991 equity shares at Rs 139 per share to anchor investors.
Some of the marquee institutions that participated in the anchor include Necta Bloom VCC – Necta Bloom One, Lords Multigrowth Fund, Compact Structure Fund, Arnesta Global Opportunities Fund PCC – Arnesta Global Fund 1, Zeal Global Opportunities Fund and Venus Investments VCC – Venus Stellar Fund.
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.
IPO Details
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 maiden initial public offer.
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.
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 promoters – Inamulhaq Shamsulhaq Iraki, and Abdulhaq Shamsulhaq Iraki.
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 Rs 270 per equity share (including a premium of Rs 260 per equity share) for Rs 49.62 crore on September 26, 2025. The size of the fresh issue has been reduced by Rs 49.62 crore pursuant to the pre-IPO placement and the revised size of the fresh issue is up to Rs 290 crore.
The proceeds from its fresh issuance worth Rs 226.3 crore will be utilised 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 7.6 crore for prepayment or re-payment, in full or in part, of certain outstanding borrowings availed by the company, and general corporate purpose.
The issue is being made through the book-building process, in line with SEBI ICDR Regulations, with not more than 50% reserved for Qualified Institutional Buyers (QIBs), not less than 15% for Non-Institutional Investors (NIIs), and not less than 35% for Retail Individual Investors (RIIs).
Company Information
Incorporated in 2008, the company is a vertically integrated iron and steel manufacturer primarily operating 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 (the 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 this 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. Further, in Fiscal 2026, and it received a Green Steel certificate from the National Institute of Secondary Steel Technology, Mandi Gobindgarh, pursuant to which its TMT bars were accorded a 5-star green steel rating, which is the highest green steel rating.
The company is currently in the process of expanding the installed capacity of sponge iron at its Samakhiyali facility from 66,000 tonnes to approximately 1,48,500 tonnes, MS billets production capacity from 2,14,500 tonnes to 4,12,500 tonnes, and existing installed TMT Bars production capacity at the Samakhiyali Facility from 181,500 tonnes to 346,500 tonnes.
