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Gujarat Victory Forgings gets Sebi’s green signal to raise funds via IPO

13 Jul 2026 Evaluate

Gujarat Victory Forgings has secured Securities and Exchange Board of India’s (Sebi) approval to raise funds through initial public offering (IPO). The company’s IPO comprises a fresh issue of up to 65 lakh equity shares and an offer for sale of up to 1.32 crore equity shares by a promoter. Together, the offer could comprise up to 1.97 crore shares. The shares of the company are proposed to be listed on the BSE and the National Stock Exchange.

The company plans to utilise the proceeds from the fresh issue towards funding capital expenditure for expansion of its existing Unit III at Vadodara, including increasing manufacturing capacity of copper cathodes, payment of debt and for general corporate purposes. Monarch Networth Capital and Nirbhay Capital Services are the book-running lead managers to the issue.

Gujarat Victory Forgings is engaged in the manufacturing of non-ferrous metal products through the processing and recycling of metal scrap.

Peers
Company Name CMP
Hindalco Industries 950.05
Vedanta 262.35
Hindustan Zinc 535.50
Jain Resource Recycl 335.80
CMR Green Tech 218.10
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