Desai & Diwanji acts on Gujarat Victory Forgings proposed IPO

Gujarat Victory Forgings Limited has filed a draft red herring prospectus with SEBI for an initial public offering comprising a fresh issue of up to 6,500,000 Equity Shares and an Offer for Sale by the Promoter Selling Shareholder of up to 13,200,000 Equity Shares.

Desai & Diwanji advised Gujarat Victory Forgings as well as the Book Running Lead Managers on this IPO.

The transaction team consists of Tushar Dey (Senior Partner), Akshay Bhagchandani (Partner) and Associates Shivansh Anand and Divam Garg.

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

The proceeds from the IPO will be used to expand the manufacturing capacity of copper cathodes at the Company’s Unit III in Vadodara, to partially repay its outstanding borrowings, and to support general corporate purposes.

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