The IPO of Sejal Architectural Glass has received good response and has oversubscribed by 9.75 times. It has received total bids for 8.96 crore equity shares as against issue size of 91,94,155 shares.
Sejal Architectural Glass, a glass processing house in India, had opened for subscription on June 9, 2008 with an initial public offering (IPO) of 91,94,155 equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process.
The equity shares are proposed to be listed on National Stock Exchange of India and Bombay Stock Exchange.
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.
The company's existing plant is located in the Union Territory of Dadra & Nagar Haveli, District, Silvassa. The company proposes to set up a new manufacturing facility for float glass with a capacity of 2,00,750 MT per annum in Bharuch district, Gujarat.
Saffron Capital Advisors Private Limited is the sole book running lead manager to this issue.