German Green Steel and Power IPO opens September 25 at ₹132–₹139 per share

The Gujarat-based company has fixed a price band of ₹132-139 per equity share for its IPO, which is scheduled to close on September 29

Mumbai: German Green Steel and Power Limited will launch its ₹304-crore initial public offering on September 25, raising capital for manufacturing expansion and renewable energy.The company has fixed a price band of ₹132–₹139 per share. The public issue will remain open for subscription until September 29.German Green Steel and Power shares are proposed to list on the BSE and NSE on October 5.Fresh Issue And OFS StructureThe IPO comprises a fresh issue of shares worth up to ₹290 crore and an offer for sale of 10 lakh shares by existing shareholders. The OFS is valued at ₹13.9 crore at the upper end of the price band.Another Realty IPO Heads For Dalal Street, Runwal Enterprises Sets ₹290–₹305 Price Band For ₹500-Crore Issue The total issue size will be ₹304 crore if shares are priced at ₹139 apiece.Company Trims IPO SizeGerman Green Steel has scaled back its fundraising plan from the proposal included in its earlier offer documents. The company had initially planned a fresh issue worth up to ₹450 crore and an OFS of up to 20 lakh shares.Where The IPO Proceeds Will GoFresh issue proceeds will finance the expansion of the company’s manufacturing facility at Samakhiyali in Kutch, Gujarat. Part of the capital will also fund a hybrid wind and solar power project.Peshwa Wheat IPO Opens September 24, ₹53.52-Crore Issue Commands ₹58–60 Grey-Market Premium The remaining proceeds will be deployed towards repaying debt and meeting corporate requirements, potentially strengthening the company’s balance sheet.Business Portfolio And Investor AllocationGerman Green Steel and Power is a vertically integrated iron and steel producer. Its products include thermo-mechanically treated bars, mild steel billets and sponge iron.Around 50 per cent of the offer has been reserved for qualified institutional buyers. Non-institutional investors will receive 15 per cent, while retail investors have been allocated the remaining 35 per cent of the German Green Steel IPO.