i Develop Stocks Advisory

Sejal Architectural Glass IPO price band fixed at Rs 105-115 Sejal Architectural Glass, a glass processing house, has fixed the price band between Rs 105 and Rs 115 per equity share for its forthcoming public issue. The company proposes to come out with a public issue of 91,94,155 equity shares of Rs 10 each for cash at a price to be decided by the 100 per cent book-building process. The objects of the issue are to raise capital for part financing the funds required for setting up of a new manufacturing facility for the production of float glass and general corporate purposes. Of the total issue, at least 50 per cent of the net issue will be allocated on a proportionate basis to Qualified Institutional Buyers (QIBs). Five per cent of the QIB portion will be available for allocation on a proportionate basis to mutual funds only. 35 per cent of the net issue will be available for allocation on a proportionate basis to retail individual bidders. The issue would constitute 32.84 per cent of the fully diluted post issue paid-up equity capital of the company. The company now proposes to set up a manufacturing facility for the production of float glass with an installed capacity of 2,00,750 MT per annum at Bharuch in Gujarat, Sejal Architecturals Chairman and Managing Director, Amrut S Gada, told reporters here today. The company has already acquired 6,08,540 square meters of land for this backward integration project and Larsen & Toubro has been awarded the contract for executing the construction and civil works, Gada said.