sejal architectural glass limited - Securities and Exchange Board of ...

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(b)(ii) There shall be compulsory market making for atleast 2 years from the date of listing of the
shares subject to the following:
(a) Market makers undertake to offer buy and sell quotes for a minimum depth of 300
shares;
(b) Market makers undertake to ensure that the Bid ask spread (difference between
quotations for sale and purchase) for their quotes shall not at any time exceed 10%;
(c) The inventory of the market makers on each of such stock exchanges, as on the date of
allotment of securities, shall be atleast 5% of the proposed issue of the company”
We are an unlisted company not complying with the conditions specified in Clause 2.2.1 of the SEBI
Guidelines and are, therefore, required to meet both the conditions detailed in Sub-Clauses (a) and
(b) of Clause 2.2.2 of the SEBI Guidelines.
We are complying with Clause 2.2.2 (a) (i) of the SEBI (DIP) Guidelines and at least 50% of the Net
Issue to Public will be allotted to QIB Bidders and in the event we fail to do so, the full subscription
monies shall be refunded to the bidders.
We are also complying with Clause 2.2.2 (b) (i) of the SEBI (DIP) Guidelines and the minimum postissue
face value capital of our Company shall be Rs.10 Crores.
Our Company undertakes that the number of allottees in the proposed Issue shall be at least 1,000;
otherwise, we shall forthwith refund the entire subscription amount received. In case of delay, if
any, in refund, we shall pay interest on the application money at the rate of 15% per annum for the
period of delay.
DISCLAIMER CLAUSE
AS REQUIRED, A COPY OF THIS DRAFT RED HERRING PROSPECTUS HAS BEEN SUBMITTED TO SEBI.
IT IS TO BE DISTINCTLY UNDERSTOOD THAT SUBMISSION OF THIS DRAFT RED HERRING
PROSPECTUS TO SEBI SHOULD NOT, IN ANY WAY, BE DEEMED OR CONSTRUED TO MEAN THAT THE
SAME HAS BEEN CLEARED OR APPROVED BY SEBI. SEBI DOES NOT TAKE ANY RESPONSIBILITY
EITHER FOR THE FINANCIAL SOUNDNESS OF ANY SCHEME OR THE PROJECT FOR WHICH THIS ISSUE
IS PROPOSED TO BE MADE OR FOR THE CORRECTNESS OF THE STATEMENTS MADE OR OPINIONS
EXPRESSED IN THIS DRAFT RED HERRING PROSPECTUS. THE BOOK RUNNING LEAD MANAGER,
SAFFRON CAPITAL ADVISORS PRIVATE LIMITED, HAVE CERTIFIED THAT THE DISCLOSURES MADE IN
THIS DRAFT RED HERRING PROSPECTUS ARE GENERALLY ADEQUATE AND ARE IN CONFORMITY
WITH THE SEBI (DISCLOSURE AND INVESTOR PROTECTION) GUIDELINES, 2000, IN FORCE FOR THE
TIME BEING. THIS REQUIREMENT IS TO FACILITATE INVESTORS TO TAKE AN INFORMED DECISION
FOR MAKING AN INVESTMENT IN THE PROPOSED ISSUE. IT SHOULD ALSO BE CLEARLY
UNDERSTOOD THAT WHILE THE COMPANY IS PRIMARILY RESPONSIBLE FOR THE CORRECTNESS,
ADEQUACY AND DISCLOSURE OF ALL RELEVANT INFORMATION IN THIS DRAFT RED HERRING
PROSPECTUS, THE BOOK RUNNING LEAD MANAGER IS EXPECTED TO EXERCISE DUE DILIGENCE TO
ENSURE THAT THE COMPANY DISCHARGES ITS RESPONSIBILITY ADEQUATELY IN THIS BEHALF AND
TOWARDS THIS PURPOSE, THE BOOK RUNNING LEAD MANAGER, SAFFRON CAPITAL ADVISORS
PRIVATE LIMITED, HAVE FURNISHED TO SEBI A DUE DILIGENCE CERTIFICATE DATED DECEMBER 3,
2007 IN ACCORDANCE WITH THE SEBI (MERCHANT BANKERS) REGULATIONS, 1992, WHICH READS
AS FOLLOWS:
1. WE HAVE EXAMINED VARIOUS DOCUMENTS INCLUDING THOSE RELATING TO LITIGATION
LIKE COMMERCIAL DISPUTES, PATENT DISPUTES, DISPUTES WITH COLLABORATORS ETC.
AND OTHER MATERIALS IN CONNECTION WITH THE FINALISATION OF THIS DRAFT RED
HERRING PROSPECTUS PERTAINING TO THE SAID ISSUE.
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