German Green Steel and Power Ltd., a vertically integrated iron and steel producer based in Gujarat, has submitted its draft red herring prospectus to the Securities and Exchange Board of India (SEBI) to initiate an initial public offering (IPO). The offering includes a fresh issue of equity shares worth up to Rs. 450 crore and an offer for sale of up to 20 lakh shares by the promoters. The company plans to use the proceeds for expanding its manufacturing capacity, investing in hybrid renewable energy infrastructure, and reducing its debt load.