Sejal Architectural Glass fixes issue price at Rs 115
Glass processing firm Sejal Architectural Glass on Tuesday said it has fixed the issue price of its equity shares at Rs 115 per share for its initial public offering.
By PTI |
NEW DELHI: Glass processing firm Sejal Architectural Glass on Tuesday said it has fixed the issue price of its equity shares at Rs 115 per share for its initial public offering.
The issue price has been fixed at the upper limit of the price-band, which was fixed between Rs 105 and Rs 115.
The company had issued 91.94 lakh equity shares of Rs 10 each through a 100 per cent book building process. The Issue, which closed on closed on June 12, was subscribed 9.90 times.
Qualified Institutional Bidders portion was subscribed around 4.26 times, the Non-Institutional Bidders portion was subscribed around 33.18 times and the retail portion was subscribed around 7.96 times, a company release said today.
The company plans to utilise the issue proceeds to part-finance setting up a new manufacturing facility for the processing of float glass and general corporate purposes, it had said earlier.
The company had started its commercial operations in 2000 -01 by setting up a processing facility for insulating glass, followed by a toughened glass process.
The firm had expanded its operations by adding an automated lamination line earlier this year and has broadened its scope of business activities by processing various value added glass for exterior and interior applications, including decorative glass, the release added.
The issue price has been fixed at the upper limit of the price-band, which was fixed between Rs 105 and Rs 115.
The company had issued 91.94 lakh equity shares of Rs 10 each through a 100 per cent book building process. The Issue, which closed on closed on June 12, was subscribed 9.90 times.
Qualified Institutional Bidders portion was subscribed around 4.26 times, the Non-Institutional Bidders portion was subscribed around 33.18 times and the retail portion was subscribed around 7.96 times, a company release said today.
The company plans to utilise the issue proceeds to part-finance setting up a new manufacturing facility for the processing of float glass and general corporate purposes, it had said earlier.
The company had started its commercial operations in 2000 -01 by setting up a processing facility for insulating glass, followed by a toughened glass process.
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The firm had expanded its operations by adding an automated lamination line earlier this year and has broadened its scope of business activities by processing various value added glass for exterior and interior applications, including decorative glass, the release added.
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