The price band has been fixed between Rs. 105 and Rs 115 per equity share. The issue will close on June 12, 2008.

Calling it the right time to go for an IPO joint managing director of the company, Dhiraj Gada said that the object of the issue is to raise capital for setting up of a new manufacturing facility for the production of float glass and general corporate purposes.

Counting on the edges the Sejal Architectural Glass has over its counterparts, Gada explained that the upcoming plant will be located in Bharuch district of Gujarat, which has an abundant supply of gas to help the firm in controlling the costs and enhancing the quality of glass used for value added products.

When asked about the risk factors involved in going for an IPO at a time when the growth in the real estate market is stagnant, Gada said, “Entrepreneurship is all about taking risks and that all factors have been taken into account before going for this venture.”

Sejal Architectural Glass Ltd whose products have been have been used widely in the structures of the Reliance Industries Ltd (RIL) to the Bangalore International Airport look at more vibrant markets for the glass industry with the product being used in for many innovative processes including the construction of environment friendly buildings.