Business · India Bureau
German Green Steel IPO set to launch September 25 at ₹132-139 band
German Green Steel and Power Ltd will open its ₹304-crore initial public offering on September 25, seeking capital to expand manufacturing operations and renewable energy investments. The Gujarat-based iron and steel maker has set a price band of ₹132-139 per share for the four-day subscription window.
LSN India ·
The IPO, scheduled to close on September 29, comprises a fresh equity issue of up to ₹290 crore alongside an Offer for Sale of 10 lakh shares valued at ₹13.9 crore. At the upper end of the price band, the total issue size reaches approximately ₹304 crore.
The company has pared back its original fundraising plans, which had initially targeted a fresh issue of ₹450 crore and an OFS of up to 20 lakh equity shares. The funds raised from the fresh issue will be deployed towards expanding the company's manufacturing facility at Samakhiyali in Kutch, Gujarat, as well as developing a hybrid wind and solar power plant.
Proceeds will also be utilised for debt repayment and general corporate purposes, according to the public announcement. The move reflects German Green Steel and Power's strategy to strengthen its production capacity while diversifying into renewable energy generation, aligning with India's broader push towards green industrialisation.
The Samakhiyali facility expansion and renewable energy investments underscore the company's commitment to sustainable operations within India's steel sector, which has increasingly focused on reducing carbon footprint and energy costs through alternative power sources.