Sejal Float IPO by mid-2006

Sejal Float Glass is setting up a 550 tonne float glass manufacturing plant in Gujarat at a cost of Rs 500 crore.

The plant will make use of European technology and import machinery from Germany, France and Italy. It will begin operations by the end of 2007. The company plans to enter the capital market by the middle of next year to part finance the project

Sejal Architectural Glass, the flagship of the Sejal Group, is also undertaking expansion of its Silvassa plant at a cost of Rs 25 crore. It is expected to be completed by March 2006. The expansion will increase the plant's capacity by more than three times to 4,500 sq metre of glass per day.

Amrut S Gada, chairman and managing director of the Sejal group, said the group's turnover was expected to be Rs 100 crore for the current financial year.

On the completion of its expansion, the company will post turnover to the tune of Rs 1,000 crore in another five years. The group has offices in Mumbai, Pune, Ahmedabad, Delhi, Kolkata, Hyderabad, Bangalore and Chennai.

The Sejal Group plans to start overseas offices in Singapore and Dubai shortly.