Mumbai, June 3 (UNI) Sejal Architectural Glass Limited will enter the capital market on June 9 with an initial public offering (IPO) of Rs 91,94,155 equity shares of Rs ten each for cash, at a price to be decided through a 100 per cent Book-building Process.
The price band has been fixed between Rs 105 and Rs 115 per equity share, for the IPO which will close on June 12.
Speaking to mediapersons here today ,Company CMD Amrut S Gada said the objective of the issue is to raise capital for partly financing the funds required for setting up of a new manufacturing facility for the production of float glass and general corporate purposes.
The Company's existing plant is located in Dadra and Nagar Haveli district Silvasa. The Company proposes to set up the new manufacturing facility with a capacity of 2,00,750 MT per annum in Bharuch, Gujarat. It has already acquired 6,08,540 sq mts of land for this backward integration project, Mr Gada said.
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