Gujarat-based German Green Steel and Power files DRHP with Sebi for Rs 450 crore IPO
German Green Steel
and Power Limited has filed its draft red herring prospectus (DRHP) with capital market regulator Securities and Exchange Board of India (
SEBI
) to raise Rs 450 crore through an initial public offering (
IPO
).
The IPO, with a face value of Rs 10 each, is a mix of fresh issue of up to Rs 450 crore with an offer for sale up to 10,00,000 equity shares by Inamulhaq Shamsulhaq Iraki and 10,00,000 equity shares by Abdulhaq Shamsulhaq Iraki.
The proceeds from its fresh issuance to the extent of Rs 325.21 crore for funding the capital expenditure requirements of the company towards expansion of its manufacturing facility at Samakhiali, Kutch,
Gujarat
and hybrid wind and solar power plant; Rs 55.01 crore for prepayment or repayment, in full or part, of certain outstanding borrowings availed by the Company; general corporate purposes.
Also Read |
Curefoods India files DRHP with Sebi for Rs 800 crore IPO. Check Details
The company, in consultation with the book-running lead managers, may consider a pre-IPO placement. The pre-IPO placement, if undertaken, shall not exceed 20% of the size of the fresh issue. If such placement is completed, the fresh issue size will be reduced.
Live Events
Systematix Corporate Services Limited
, and
Emkay Global Financial Services Limited
are the sole book-running lead managers and Bigshare Services Private Limited is the registrar of the offer. The equity shares are proposed to be listed on BSE and NSE.
The issue is being made through the book-building process, wherein not more than 50% of the offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% and 35% to non-institutional bidders, and retail individual bidders respectively.
German Green Steel and Power Limited is a vertically integrated iron and steel manufacturer primarily operating in the western region of India, with a strong presence in Gujarat with a main focus on TMX Bars, according to a CARE report mentioned in the DRHP.
The company's product portfolio comprises mainly TMT Bars, MS Billets and Sponge Iron. Its TMT bar manufacturing capabilities range from 8 mm to 40 mm. It believes that it has developed 'German TMT' as a popular brand for
TMT Bars
in the state of Gujarat.
It has two (2) manufacturing facilities located in the state of Gujarat ('Manufacturing Facilities'), one at Samakhiali, and the other at Viramgam, operated through its Material Subsidiary- German TMX Private Limited.
As of December 31, 2024, approximately 67.72% of its energy requirements are met by its captive power plant and
renewable energy
plant. It intends to further reduce its reliance on the electricity grid by constructing an additional hybrid wind solar plant.
Also Read |
Sensex vaults 11,000 points from April lows. Which mutual funds should you buy?
German Green Steel and Power's revenue from operations grew at a CAGR of 12.53% from Rs 892.25 crore in Fiscal 2022 to Rs 1,129.78 crore in Fiscal 2024. EBITDA grew at a CAGR of 43.04% from Rs 39.15 crore in Fiscal 2022 to Rs 80.11 crore in Fiscal 2024 with EBITDA Margin improved from 4.39% in Fiscal 2022 to 7.09% in Fiscal 2024 showcasing strong operating performance. Profit After Tax grew at a CAGR of 10.43 % from Rs 34.16 crore in Fiscal 2022 to Rs 41.67 crore in Fiscal 2024.
For the nine-month period ended December 31, 2024, revenue from operations, EBITDA and profit after tax stood at Rs 979.79 crore, Rs 68.18 crore and Rs 32.07 crore respectively.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
24 minutes ago
- Time of India
ET Market Watch: Sensex gains 90 pts, Nifty holds 25,500 ahead of US tariff deadline
Transcript Hi, you're listening to ET Markets Radio, I am your host, Neha V Mahajan. Welcome to a fresh episode of ET Market Watch -- where we bring you the latest news from the world of stock markets every single day. Let's get to it: Sensex gained 90 points. Nifty held above 25,500. Investors stayed cautious as US trade talks loomed. On Tuesday, Indian markets edged higher, tracking gains in Asia. Sensex closed at 83,697, up 0.11% Nifty at 25,541, up 0.1% Gains were capped by weak financials and trade deal jitters ahead of Trump's July 9 tariff deadline. Sector Moves & Stock Highlights Reliance rose 1.8% after Nuvama raised its target to ₹1,801, citing new energy growth. Bharat Electronics, Asian Paints, UltraTech Cement, and Kotak Bank gained up to 2.5%. Financials eased 0.2% for a second day, but PSU banks outperformed, Nifty PSU Bank up 0.7%. Key Movers Apollo Hospitals surged 3.5% after announcing a spin-off of its digital and pharmacy biz. Sigachi Industries plunged another 5.6%, extending its two-day loss to over 17% after the Telangana plant tragedy. Technical Views Kotak Securities said markets showed lacklustre activity, forming a narrow-range candlestick. Key resistance: 25,600 on Nifty, 83,900 on Sensex Key support: 25,470 / 83,500 HDFC Securities sees higher highs on charts, with a breakout above 25,700 likely taking Nifty to 26,000+. Global Cues & Rupee Asian stocks rose as US trade talks and a $3.3 trillion spending bill hung in the balance. Rupee firmed up 0.3% to 85.52 against the dollar. Crude held steady, Brent at $66.79, WTI at $65.15. Markets stayed range-bound, but positioning hints at a breakout, with trade talks, earnings, and global data in focus.
Time of India
32 minutes ago
- Time of India
Ghaziabad hospital told to pay retired railway employee s 17k for claim process delay
Ghaziabad: District Consumer Disputes Redressal Commission (DCDRC) has directed the Northern Railways chief medical superintendent (CMS) to pay over Rs 17,000 to a retired railway employee — as reimbursement and compensation for claim delay. While payment of Rs 12,398 has been ordered as treatment reimbursement for cataract surgery, that of Rs 5,000 has been directed as the compensation for delaying the payment of the claim. The commission also directed the payment to be made within 45 days of the order, failing which interest calculated at 6% would have to be paid. You Can Also Check: Noida AQI | Weather in Noida | Bank Holidays in Noida | Public Holidays in Noida Passing the order on June 23, the commission, presided over by Praveen Kumar Jain, said railway authorities should have taken necessary steps to initiate payment instead of rejecting the claim on the grounds of incomplete papers "when the claimant is a retired employee of the railways". Devilal Singh, who superannuated from the post of chief medical superintendent (CMS) in 2012, had filed an application before the DCDRC for direction to CMS, Delhi divisional office and assistant chief medical superintendent (ACMS) of Railway Hospital Ghaziabad. The complainant said during retirement, he was provided with a medical card covering him and his family members. He told the commission, "When I felt some problem with my right eye, I consulted the doctors at JP Hospital, Noida, and underwent a surgery on April 10, 2019, for which I paid Rs 35,890. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo Once again, I had some issues with my right eye and was advised by doctors at JP Hospital to undergo a cataract surgery, which was conducted on Oct 1, 2019. This time, I paid Rs 30,500 towards the bills raised by the hospital. When I applied for reimbursement of the treatment cost with ACMS (Railway Hospital Ghaziabad) with all relevant documents, it was rejected, which was not just a deficiency in services but also illegal. " The complainant later filed an RTI application and was informed by the railways that his first claim of Rs 35,890 was settled by the railway department by paying Rs 1,786, as was admissible under the policy of Central Govt Health Service (CGHS). The complainant contended that since he was an employee of the railway, his claims could not be dealt with under the CGHS policy and were governed by the railway board. The counsel for the opponents said that railway authorities follow the railway board policy of 2005, effective since Jan 2007, under which beneficiaries can obtain treatment at hospitals recognised by the railways. "The beneficiaries are free to obtain treatment at any hospital of their choice, but in that case, reimbursement is done according to CGHS rates as applicable," the counsel said. He told the commission the second claim was rejected for inadequacy of documents. Get the latest lifestyle updates on Times of India, along with Doctor's Day 2025 , messages and quotes!
Time of India
33 minutes ago
- Time of India
Talented people need not migrate from UP, says Keshav Maurya
1 2 Lucknow: Talented indisviduals need not migrate from the state or the country as we have ample opportunitiues, said chief guest deputy Chief Minister Keshav Prasad Maurya while addressing the winners and the audience at the Times Leadership Awards in the city. "I want to congratulate all the winners. Be it sports, academics, healthcare, research or entrepreneurship, their contributions need to be acknowledged by each one of us. As residents of 'Uttam Pradesh', I can proudly say that talented individuals from the state do not need to migrate to other states or out of the country to look for suitable opportunities. We all have seen the changed perception of the state in the country. Though till eight years back nobody was interested in investing in the state, the double engine BJP government has managed to secure investments amounting to Rs 50 lakh crore for Uttar Pradesh ," he said Special guest, BJP leader and and a prominent social worker, Neeraj Singh said, "I am proud to be a part of the event which celebrates the contribution of people who have made positive impact on the society. Over the past 11 years, Lucknow has transformed completely and represents the positive changes a strong leadership can bring in." Guest of honour and actor Kunal Kapoor said, "I am overwhelmed to be a part of the leadership awards being organised in Lucknow. I feel proud as I am in the company of people who are taking the country forward." Get the latest lifestyle updates on Times of India, along with Doctor's Day 2025 , messages and quotes!
