Glass processing firm Sejal Architectural Glass, which made its debut on the bourses on 1 July 2008, closed 29.13% below its issue price on the Bombay Stock Exchange.
The company listed 28 million sh…
Glass processing firm Sejal Architectural Glass, which made its debut on the bourses on 1 July 2008, closed 29.13% below its issue price on the Bombay Stock Exchange. The company listed 28 million shares on the bourse and the issue price was fixed at INR 115. The company raised about INR 1057.3 million through its initial public offer for 9.194 million equity shares. The issue was subscribed 9.90 times. Sejal plans to use the proceeds from the issue to part-finance the setting up of a new manufacturing facility for the processing of float glass and general corporate purposes, it said. Sejal started commercial operations in 2000-01 by setting up a processing facility for insulating glass, followed by a toughened glass process.
