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

Escrow Collection Banks shall transfer the monies from the Escrow Account to the Public Issue
Account and the Refund Account with the Bankers to the Issue as per the terms of the Escrow
Agreement, the Red Herring Prospectus and the Prospectus. Payment of refunds to the Bidders shall
be made from the Refund Account as per the terms of the Escrow Agreement and this Draft Red
Herring Prospectus.
The Bidders should note that the escrow mechanism is not prescribed by SEBI and has been
established as an arrangement between the Escrow Collection Bank(s), our Company, Book Running
Lead Manager, Members of the Syndicate and the Registrar to the Issue to facilitate collections from
the Bidders.
Terms of Payment and Payment into the Escrow Accounts
Each Bidder shall provide the applicable Margin Amount, and shall, with the submission of the Bidcum-Application
Form draw a cheque or demand draft for the maximum amount of his/her Bid in
favour of the Escrow Account of the Escrow Collection Bank(s) (refer “Payment Instructions” on page
[•] ) and submit the same to the member of the Syndicate to whom the Bid is being submitted. The
Bidder may also provide the applicable Margin Amount by way of an electronic transfer of funds
through the RTGS mechanism. Each QIB shall provide their QIB Margin Amount only to the BRLM. Bidcum-Application
Forms accompanied by cash/Stockinvest/money order shall not be accepted. The
Margin Amount based on the Bid Amount has to be paid at the time of submission of the Bid-cum-
Application Form.
The members of the Syndicate shall deposit the cheque or demand draft with the Escrow Collection
Bank(s), which will hold the monies for the benefit of the Bidders until such time as the Designated
Date. On the Designated Date, the Escrow Collection Bank(s) shall transfer the funds equivalent to
the size of the issue from the Escrow Account, as per the terms of the Escrow Agreement, into the
Public Issue Account. The balance amount after transfer to the Public Issue Account shall be
transferred to the Refund Account maintained by the refund banker
Each category of Bidders i.e. QIBs, Non-Institutional Bidders and Retail Individual Bidders would be
required to pay their applicable Margin Amount at the time of the submission of the Bid-cum-
Application Form. The Margin Amount payable by each category of Bidders is mentioned under the
heading “Issue Structure” on page [●] of this Draft Red Herring Prospectus and shall be uniform
across all the Bidders in the same category. Where the Margin Amount applicable to the Bidder is less
than 100% of the Bid Amount, any difference between the amount payable by the Bidder for Equity
Shares Allocated at the Issue Price and the Margin Amount paid at the time of Bidding, shall be
payable by the Bidder no later than the Pay-in-Date, which shall be a minimum period of two days
from the date of communication of the allocation list to the members of the Syndicate by the BRLM.
If the payment is not made favoring the Escrow Account within the time stipulated above, the Bid of
the Bidder is liable to be cancelled. However, if the applicable margin amount for Bidder is 100%, the
full amount of payment has to be made at the time of submission of the Bid-cum-Application Form.
Where the Bidder has been allocated lesser number of Equity Shares than he or she had Bid for, the
excess amount paid on bidding, if any, after adjustment for allocation, will be refunded to such
Bidder within 15 days from the Bid/issue closing date, failing which our Company shall pay interest at
15% per annum for any delay beyond the periods as mentioned above.
Electronic Registration of Bids
(a) The members of the Syndicate will register the Bids using the on-line facilities of NSE and BSE.
There will be atleast one on-line connectivity in each city, where a Stock Exchange is located in
India and where Bids are being accepted.
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