Sejal Glass Limited approves QIP

Pursuant to the approval of the Board of Directors of Sejal Glass Limited (the "Board"), at its meeting held on Wednesday, January 18, 2023, the approval of the Shareholders accorded through Special Resolution passed on Saturday, February 25, 2023, through Postal Ballot and In-Principle approvals received from both the Stock Exchanges, namely BSE Limited and National Stock Exchange of India Limited dated March 17, 2023, the Fund Raising Committee of the Board (the "Committee"), at its meeting held today i.e. Friday, March 17, 2023, has approved the issue of 10,00,000 Equity Shares of Face Value of INR 10/- each upto and amount not exceeding INR 35,00,00,000/- to the QIBs Issue (Qualified Institutions Placement).

The board approved and adopted the Preliminary Placement Document dated March 17, 2023, together with the Application Form in connection with the Issue.

The board authorized the opening of the Issue today, i.e. Friday, March 17, 2023 and approved the Floor Price for the Issue, being INR 250.85/- per Equity Share ("Floor Price"), based on the pricing formula as prescribed under the Chapter VI of SEBI (ICDR) Regulations, 2018.

Shares of Sejal Glass Limited was last trading in BSE at Rs. 233.55 as compared to the previous close of Rs. 232.80. The total number of shares traded during the day was 135 in over 8 trades.

The stock hit an intraday high of Rs. 236.55 and intraday low of 226.00. The net turnover during the day was Rs. 31268.00.

Source : Equity Bulls

Keywords

SejalGlass INE955I01044 Glass Industrial FundRaising QIP