IPO Alert: Sejal Architectural issue price band 105-115 rupee/shr

[K.Karthik Raja]

IPO Alert: Sejal Architectural issue price band 105-115 rupee/shr
Tuesday, Jun 3
.
MUMBAI - Sejal Architectural Glass Ltd has set a price band of
105-115
rupees a share for its 9.2-mln-share initial public offer that opens
Jun 9
and closes Jun 12. Each share has a face value of 10 rupees.
The Mumbai-based glass company will use the issue proceeds to set
up a
new plant in Bharuch, Gujarat, for manufacturing float glass.
The company said it will incur a total expenditure of 4.24 bln
rupees for
setting up this facility.
The issue constitutes 32.84% of the company's post-issue, paid-up
capital.
The shares of the company will be listed on National Stock
Exchange and
Bombay Stock Exchange.
Sejal Architectural reported a net profit of 46.96 mln rupees on
total
income of 450.27 mln rupees for the nine months ended December.
Saffron Capital Advisors Pvt Ltd is the book-running lead manager
to the
issue and Intime Spectrum Registry Ltd is the registrar. End