Stories
German Green Steel IPO Opens Sept 25: Price Band Fixed, ₹303.9 Cr Issue
- •German Green Steel and Power has set its IPO price band at ₹132-₹139 per equity share, with the issue opening on September 25 and closing on September 29.
- •The company aims to raise ₹303.9 crore, comprising a fresh issue of up to ₹290 crore and an offer for sale of up to ₹13.9 crore.
- •Proceeds from the fresh issue will fund manufacturing facility expansion in Samakhiali, Kutch, a hybrid wind-solar power plant, and debt repayment.
- •German Green Steel and Power is a vertically integrated iron and steel manufacturer in western India, known for its TMX Bars brand, with two facilities in Gujarat.
- •The company reported a revenue CAGR of 12.53% from FY22 to FY24, reaching ₹1,129.78 crore, and a PAT CAGR of 10.43% to ₹41.67 crore in FY24.
Key Questions Answered
The initial public offering for German Green Steel and Power has set its price band at ₹132 to ₹139 per equity share. The subscription period for the public issue opens on September 25 and concludes on September 29, with anchor investors bidding on September 24.
The company plans to use the fresh issue proceeds to fund capital expenditure for expanding its manufacturing facility in Samakhiali, Kutch, and to build a hybrid wind-solar power plant. Additional funds will cover partial or full debt repayment and support general corporate purposes.
The IPO consists of a fresh issue of up to ₹290 crore and an offer for sale of up to ₹13.9 crore, carrying a face value of ₹10 per share. The allocation reserves 50% for qualified institutional buyers, 15% for non-institutional investors, and 35% for retail investors.
