Marri Retail, Zetwerk Manufacturing and Gujarat Victory Forgings Receive SEBI Approval for IPO

Three companies have received approval from the Securities and Exchange Board of India (SEBI) to launch their initial public offerings (IPOs). Marri Retail Limited, Zetwerk Manufacturing Businesses Limited, and Gujarat Victory Forgings Limited received regulatory clearance after SEBI issued its observations on their respective draft offer documents.

The proposed IPOs represent companies operating across diverse sectors, including retail, manufacturing, and engineering. The approvals allow these companies to proceed with their public issue plans, subject to meeting other applicable regulatory requirements.

Marri Retail Limited IPO - Issue Details

• Issue Type: Book-built Issue (Fresh Issue + OFS)
• Total Issue Size: To be announced 
• Fresh Issue: Up to ₹522.00 crore
• Offer for Sale (OFS): Up to 2.70 crore equity shares
• Face Value: ₹2 per share
• Proposed Listing: BSE, NSE
• Book Running Lead Managers: Nuvama Wealth Management Limited, IIFL Capital Services Limited and Motilal Oswal Investment Advisors Limited
• Registrar to the Issue: KFin Technologies Limited

Utilisation of Marri Retail IPO Proceeds

The company intends to utilise the net proceeds from the fresh issue towards:

• Repayment/ prepayment, in full or part, of all or certain outstanding borrowings availed by the Company.
• Capital expenditure to be incurred towards opening of 10 new apparel stores, one new Integrated Retail Store and two Jewellery Stores.
• Expenditure for lease/sub lease rent payments for certain of the Company’s existing stores and Warehouse.
• General corporate purposes

About Marri Retail Limited

Marri Retail Limited is an apparel and jewellery retailer operating multiple brands across Telangana, Andhra Pradesh, Karnataka, and Maharashtra. The company offers a diverse range of products across premium, mid-premium, and value segments, catering to wedding, festive, and everyday shopping needs through its 34 stores across 26 districts.

Its portfolio includes apparel for women, men, and children, along with gold, silver, diamond, and platinum jewellery. The company operates brands such as The Chennai Shopping Mall, J.C. Brothers, Jeans Corner, and The Chennai Shopping Mall Jewellers, providing an integrated family shopping experience.

Zetwerk Manufacturing Businesses IPO - Issue Details

• Issue Type: Book-built IPO
• Total Issue Size: To be announced 
• Fresh Issue:  To be announced 
• Offer for Sale (OFS):  To be announced 
• Proposed Listing: BSE, NSE
• Book Running Lead Managers: Kotak Mahindra Capital Company Limited

About Zetwerk Manufacturing Businesses Limited

Founded in 2017 and headquartered in Bengaluru, Zetwerk Manufacturing Businesses Limited is a technology-led manufacturing platform that connects enterprises with a global network of manufacturing partners. The company provides end-to-end manufacturing solutions, including design, supplier management, quality control, and logistics across sectors such as electronics, renewable energy, aerospace and defence, and precision manufacturing.

Zetwerk operates across 25+ countries with 10,000+ suppliers and 1,100+ customers. Its technology platform, Zetwerk OS, enables real-time tracking and transparency across manufacturing processes, supported by a network of 20+ facilities across India, the US, and Mexico.

Gujarat Victory Forgings IPO - Issue Details

• Issue Type: Book-built Issue (Fresh Issue + OFS)
• Total Issue Size: Up to 1.97 crore equity shares
• Fresh Issue: Up to 1.32 crore equity shares
• Offer for Sale (OFS): Up to 0.65 crore equity shares
• Face Value: ₹10 per share
• Proposed Listing: BSE, NSE
• Book Running Lead Managers: Monarch Networth Capital Limited, Nirbhay Capital Services Private Limited
• Registrar to the Issue: KFin Technologies Limited

Utilisation of Gujarat Victory Forgings IPO Proceeds

The company intends to utilise the net proceeds from the fresh issue towards:

• Financing the capital expenditure requirement towards expansion of the Company’s existing Unit III at Vadodara by increasing the manufacturing capacity of copper cathodes
• Pre-payment or scheduled repayment of a portion of certain outstanding borrowings availed by the Company
• General corporate purposes

About Gujarat Victory Forgings Limited

Gujarat Victory Forgings Limited is engaged in the manufacturing and recycling of non-ferrous metal products, primarily focusing on copper-based products. Its portfolio includes copper cathodes, copper tubes and pipes, copper rods, copper ingots, copper busbars, copper coils, brass tubes and pipes, and specialised copper alloys used across industries such as power infrastructure, electric vehicles, and automotive.

The company operates with a focus on recycling and resource efficiency, with an installed recycling capacity of 9,360 MTPA. Its products are manufactured to meet customer-specific requirements and international quality standards, supporting sectors including renewable energy, construction, and industrial applications.

Disclaimer: This news is solely for educational purposes. The securities/investments quoted here are not recommendatory. To read the RA disclaimer, please click here