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

6. Terrorist attacks and other acts of violence or war involving India, the United States, and other
countries could adversely affect the financial markets, result in a loss of business confidence and
adversely affect our business, results of operations and financial condition.
Terrorist attacks and other acts of violence or war, including those involving India, the United States or other
countries, may adversely affect Indian and worldwide financial markets. These acts may also result in a loss
of business confidence and have other consequences that could adversely affect our business, results of
operations and financial condition. Increased volatility in the financial markets can have an adverse impact
on the economies of India and other countries, including economic recession.
7. Volatility of share prices on listing
After this Issue, the price of our Equity Shares may be highly volatile, or an active trading market for our
Equity Shares may not develop. The prices of our Equity Shares on the Stock Exchanges may fluctuate as a
result of several factors, including:
� Volatility in the Indian and global securities market;
� Our results of operations and performance, in terms of market share;
� Performance of the Indian economy;
� Changes in Government policies;
� Changes in the estimates of our performance or recommendations by financial analysts;
� Perceptions about our future performance or the performance of the industry in which we operate;
� Performance of the Company’s competitors in the glass industry and market perception of
investments in the Indian glass sector;
� Adverse media reports on our Company ;
� Changes in the applicable tax incentives;
� Significant developments in India’s economic liberalization and deregulation policies; and
� Significant developments in India’s fiscal and environmental regulations.
8. The Issue price of our Equity Shares may not be indicative of the market price of our Equity Shares
after the Issue.
The Issue Price of our Equity Shares will be determined by the Book Building Process. This price will be based
on numerous factors (discussed in the section ’Basis for Issue Price’ on page [•]) and may not be indicative of
the market price of our Equity Shares after the Issue. The market price of our Equity Shares could be subject
to significant fluctuations after the Issue, and may decline below the Issue Price. We cannot assure you that
you will be able to resell your Equity Shares at or above the Issue Price. Among the factors that could affect
our share price are:
� Quarterly variations in the rate of growth of our financial indicators, such as earnings per share, net
income and revenues;
� Changes in revenue or earnings estimates or publication of research reports by analysts;
� Speculation in the press or investment community;
� General market conditions; and
� Domestic and international economic, legal and regulatory factors unrelated to our performance.
9. You will not be able to immediately sell any of our Equity Shares purchased through this Issue on stock
exchanges.
Our Equity Shares will be listed on the NSE and the BSE. Pursuant to Indian regulations, certain actions must
be completed before the Equity Shares can be listed and trading may commence. Investors’ “demat”
accounts with depository participants in India are expected to be credited within two working days of the
date on which the basis of allotment is approved by the Designated Stock Exchange. Thereafter, upon receipt
of trading approval from the Stock Exchanges, trading in the Equity Shares is expected to commence within
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