German Green Steel and Power (GTMT) IPO
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German Green Steel and Power (GTMT) IPO details
Schedule of German Green Steel and Power (GTMT)
| Issue open date | 25 Sep 2026 |
| Issue close date | 29 Sep 2026 |
| UPI mandate deadline | 29 Sep 2026 (5 PM) |
| Allotment finalization | 30 Sep 2026 |
| Refund initiation | 01 Oct 2026 |
| Share credit | 01 Oct 2026 |
| Listing date | 05 Oct 2026 |
| Mandate end date | 14 Oct 2026 |
| Lock-in end date for anchor investors (50%) | 29 Oct 2026 |
| Lock-in end date for anchor investors (remaining) | 28 Dec 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About German Green Steel and Power (GTMT)
German Green Steel and Power is a vertically integrated iron and steel manufacturer primarily operating in the western region of India. The company focuses on manufacturing thermo-mechanically treated bars, mild steel billets, and sponge iron. It serves a diversified client base comprising distributors, dealers, and direct institutional customers across sectors like real estate, roadways, and thermal plants. The company operates two manufacturing facilities located in Samakhiyali and Viramgam in Gujarat. A notable feature of its operations is the integration of captive coal-based power plants, waste heat recovery systems, and hybrid wind and solar power setups, which provide cost-effective energy for its intensive manufacturing requirements. The company generates revenue predominantly from domestic sales within Gujarat, complemented by minor international exports, positioning itself as a key supplier in the regional steel supply chain.
Financials of German Green Steel and Power (GTMT)
Issue size
| Funds Raised in the IPO | Amount (₹ crores) |
| Total issue size | 303.90 |
| Fresh Issue – Proceeds go to the company | 290 |
| Offer for sale – Proceeds go to the existing investors | 13.90 |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Funding capital expenditure for Samakhiyali facility expansion and power plant | 226.33 (78.04%) |
| Prepayment or repayment of certain outstanding borrowings | 7.7 (2.66%) |
| General corporate purposes | 55.97 (19.30%) |
Strengths
- Vertically integrated iron and steel manufacturer in Gujarat.
- Captive and hybrid wind-solar plants reduce operational energy costs.
- Diversified network of distributors, dealers, and institutional clients.
- Strong capacity expansion strategy for TMT bars and value-added products.
- ISO-certified manufacturing facilities ensuring stringent product quality.
Risks
- High dependence on the top 10 customers for a majority of revenue.
- Vulnerability to raw material price volatility and supply disruptions.
- Operations are highly concentrated geographically within Gujarat.
- Expansion plans face risks of delays, cost overruns, and missing approvals.
- High indebtedness with stringent covenants could restrict operations.