German Green Steel files draft papers with SEBI to raise funds via IPO

 German Green Steel & Power has filed draft papers with the Securities and Exchange Board of India (SEBI) to raise capital through an initial public offering (IPO). The issue comprises a fresh issue of Rs 450 crore and an offer for sale (OFS) of up to 20 lakh equity shares by existing promoters Inamulhaq Shamsulhaq Iraki and Abdulhaq Shamsulhaq Iraki, each offering 10 lakh shares.

Currently, the promoters hold 42.34 percent and 40.80 percent stake in the company, respectively.

Of the fresh issue proceeds, Rs 325.22 crore will be allocated toward expanding the company’s manufacturing facility in Gujarat and setting up a hybrid wind and solar power plant. An additional Rs 55 crore will be used for debt repayment. As of May 2025, the company’s total outstanding borrowings stood at Rs 347.33 crore.

Systematix Corporate Services and Emkay Global Financial Services are acting as the lead managers for the issue.