praveen
04-06-2008, 08:22 AM
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.
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.