The price band will be Rs 105 to Rs 115 for face value of shares of Rs 10 each. The issue would constitute 32.84 per cent of the fully diluted post issue paid-up equity capital of the company.
Sejal Glass started its commercial operation in FY 01 by setting up a processing facility for insulating glass at Dadra in Silvassa. Today, the company has processing facilities for insulating, toughened, laminated glasses and for decorative glass as well.
The company now proposes to set up a manufacturing facility for the production of float glass with an installed capacity of 2,00,750 metric tonne per annum at Bharuch in Gujarat, Sejal Architectural's Chairman and Managing Director, Amrut S Gada, said in a statement here.
The commercial production would commence from March 2009. Setting up of this project would be a step towards backward integration for the company and would enable the company to control its cost and enhance the quality of glass used for the company's value-added products and brands like Kool Glass, Armor Glass, Fort Glass and Tone Glass, Gada said. The company proposes to list its equity shares on the National Stock Exchange and Bombay Stock Exchange.