MUMBAI, NATIONAL, 10 JULY, 2026 | GPN, NEWSMAN SACHIN: Gujarat Victory Forgings which is in the business of manufacturing of non-ferrous metal products, has received observations from SEBI for its proposed IPO. The company had filed its draft papers with the market regulator on March 30, 2026.

The offer comprises of a fresh issue of upto 6,500,000 Equity Shares and an offer for sale of upto 13,200,000 Equity Shares. The face value of each equity share is ₹ 10.

The company proposes to utilize the net proceeds towards, financing the capital expenditure requirement towards expansion of its existing Unit III at Vadodara by increasing the manufacturing capacity of copper cathodes; pre-payment or scheduled re-payment of a portion of certain outstanding borrowings availed by the company; and general corporate purposes.

Company’s products are customisable to the requirements of its customers, with respect to the level of purity and/or composition with other metal and non-metal that conform to international standards.

Monarch Networth Capital Limited and Nirbhay Capital Services Private Limited are the book running lead managers to the issue.

Link: https://www.sebi.gov.in/filings/processing-status/jul-2026/processing-status-issues_96940.html