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Economic Times
5 days ago
- Business
- Economic Times
Gujarat-based German Green Steel and Power files DRHP with Sebi for Rs 450 crore IPO
Gujarat-based 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). ADVERTISEMENT 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 DetailsThe 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. 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. ADVERTISEMENT 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 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. ADVERTISEMENT 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 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. ADVERTISEMENT 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? ADVERTISEMENT 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 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. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
5 days ago
- Business
- Time of India
Gujarat-based German Green Steel and Power files DRHP with Sebi for Rs 450 crore IPO
Gujarat-based 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.
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Business Standard
5 days ago
- Business
- Business Standard
German Green Steel files IPO papers with Sebi; seeks to raise ₹450 cr
Gujarat-based German Green Steel and Power has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering. The initial public offering (IPO) is a combination of fresh issuance of equity shares worth up to Rs 450 crore and an offer for sale of up to 20 lakh shares by promoters Inamulhaq Shamsulhaq Iraki and Abdulhaq Shamsulhaq Iraki, according to the Draft Red Herring Prospectus (DRHP) filed on Sunday. The company may consider a pre-IPO placement in consultation with the book-running lead managers before filing the red herring prospectus. If undertaken, the placement will not exceed 20 per cent of the fresh issue size. Proceeds from the fresh issue to the tune of Rs 325.21 crore will be used towards expansion of its manufacturing facility in Gujarat and setting up a hybrid wind and solar power plant while Rs 55.01 crore will be used for repayment of debt and general corporate purposes, according to the DRHP. As of May 31, 2025, the company's total outstanding borrowings stood at Rs 347.33 crore. German Green Steel and Power is a vertically integrated iron and steel manufacturer with a main focus on TMT bars. It has a strong presence in Gujarat. For the nine-month period ended December 31, 2024, the company reported revenue from operations of Rs 979.78 crore and profit after tax of Rs 32.07 crore. The company's shares are proposed to be listed on the BSE and NSE. Systematix Corporate Services and Emkay Global Financial Services are the book running lead managers, while Bigshare Services is the registrar for the IPO.
