Upcoming IPOs: Kay Jay Forgings, T.C. Terrytex Limited, Absolute Projects, Gujarat Victory Forgings file DRHPs with SEBI
As the new financial year kickstarts, India’s IPO market continues to stay active with several mid-sized manufacturing and infrastructure companies preparing to tap public markets. Firms including Kay Jay Forgings, T.C. Terrytex Limited, Absolute Projects, and Gujarat Victory Forgings have filed their DRHPs with SEBI for an IPO.
About Kay Jay Forgings IPO
As per the Draft Red Herring Prospectus (DRHP), Kay Jay Forgings aims to raise ₹360 crore via a fresh issue of ₹300 crore and an offer for sale (OFS) of ₹60 crore by existing shareholders G K Kothari & Sons, Gopal Krishan Kothari, Amit Kothari, and Madhu Kothari.
Kay Jay Forgings is an integrated precision engineering manufacturer of forged and machined components. The company aims to proceeds from the fresh issue towards
setting up of a new facility at Ludhiana, Punjab for manufacturing forged and machined components and solar power plant at Village Buttar Bakhua, Tehsil Gidderbaha, District Sri
Mukatsar Sahib, Punjab; repay/prepay outstanding borrowings; and general corporate purposes.
About T.C. Terrytex IPO
T.C. Terrytex manufactures and exports terry towel products, which are supplied primarily to international markets. T.C. Terrytex IPO comprises a fresh issue of ₹170 crore and an offer for sale of up to 67,50,000 equity shares by shareholder Ashis Living Private Limited, as per the DRHP filed on March 30, 2026.
Sobhagya Capital Options Private Limited is serving as the book-running lead manager, while Skyline Financial Services Private Limited is the registrar for the IPO.
About Absolute Projects IPO
Absolute Projects IPO is entirely a fresh issue of up to 20,000,000 equity shares with no OFS component.
The net proceeds from the fresh issue will be used towards repaying/prepaying outstanding borrowings, funding the company's working capital requirements, general corporate purposes, and funding capital expenditures towards the procurement of (i) plant and machinery for modernization of manufacturing Facility I; (ii) procurement of plant and machinery for commencement of operations at manufacturing Facility II; and (iii) certain equipment and machinery required for the execution of Power EPC Projects.
About Gujarat Victory Forgings IPO
Gujarat Victory Forgings IPO, a manufacturer of nonferrous metal products, has filed DRHP to raise funds via a fresh issue of up to 6,500,000 equity shares and an offer for sale of up to 13,200,000 equity shares by Vijendrakumar Bishamber Gupta.
The company’s product portfolio comprises high-purity copper cathodes ranging between 99.96% and 99.99% copper, copper-related products such as copper tubes and pipes, copper ingots, copper busbar, copper rods, copper alloy rods, copper coil, and brass tubes and pipes.
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