German Green Steel IPO

German Green Steel and Power Limited was originally incorporated as Haq Enterprises Private Limited on July 09, 2008. It was renamed Haq Steels and Metaliks Private Limited in April 2018, converted into a public limited company as Haq Steels and Metaliks Limited in May 2018, and subsequently renamed German Green Steel and Power Limited on January 18, 2024.

The Company is a vertically integrated iron and steel manufacturer with a strong presence in Gujarat. The group was established by Haji Shamsul Haq Iraki in 1976, with his sons Mr. Inamulhaq Iraki and Mr. Abdulhaq Iraki later joining the business. Its key products include Sponge Iron, MS Billets, TMT Bars, Cut & Bend and Binding Wires.

The Company operates manufacturing facilities at Samakhiyali and Viramgam, Gujarat, supported by captive power plants comprising a 16 MW coal-based plant, 4 MW Waste Heat Recovery plant and 39.3 MW hybrid wind-solar plant. Its strategic locations are intended to support operational efficiency and access to targeted markets.

The Company manufactures TMT Bars through the electric arc furnace route and is vertically integrated for key inputs such as Sponge Iron and MS Billets. Its TMT Bars are manufactured using Thermex Quenching Technology, while its product portfolio also includes Epoxy-coated TMT Bars, Cut & Bend and CRS Green Steel. “German TMT” is a popular brand in Gujarat and the Company holds ISO certification for quality.

Vertically Integrated Manufacturing: Operates a vertically integrated iron and steel manufacturing facility at Samakhiyali, covering production from raw materials to finished TMT Bars, along with captive power capacity.

Extensive Distribution Network: Has a wide distribution network across Gujarat comprising distributors, dealers and institutional customers, supported by long-term customer relationships.

Strong Brand & Product Quality: Has developed “German TMT” as a popular TMT Bar brand in Gujarat, with a focus on quality and innovation. Its TMT Bars use Thermex quenching technology, enhancing strength, ductility, bendability, weldability, fire resistance and corrosion resistance.

Dependence on Dealers & Distributors: Relies substantially on dealers and distributors for product distribution and brand reach. Any termination of arrangements or ineffective sales and marketing could adversely affect business and financial performance.

Intense Industry Competition: Faces competition from national and local steel players amid increasing production capacity in Gujarat and cheaper imported steel, particularly from China, which may adversely affect business and financial performance.