German green steel plans IPO for expansion and debt repayment
German Green Steel & Power is looking to raise ₹450 crore through an IPO, with promoters selling 20 lakh shares alongside a fresh equity issue.
The company has filed its draft papers with SEBI and aims to use the funds for growth and paying down debt.
IPO proceeds will help expand manufacturing plant
Most of the IPO proceeds will help expand their Gujarat manufacturing plant and set up a hybrid wind-solar power project.
About ₹55 crore is earmarked for debt repayment.
Systematix Corporate Services and Emkay Global are managing the process.
Runs 2 plants in Gujarat
The company runs two plants in Gujarat, making sponge iron (used in electric furnaces), mild steel billets, and TMT bars—key materials for construction and infrastructure.
They're known for high capacity utilization across their product lines.
Looking to nearly double production capacities
German Green Steel wants to nearly double its production capacities by adding new equipment like rotary kilns and rolling mills.
In FY24, they reported revenues of ₹1,129.79 crore with net profit rising to ₹41.67 crore from last year's ₹31.20 crore—showing solid momentum as they look ahead.