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

Pursuant to recent amendments to the SEBI Guidelines, QIB Bidders are not allowed to withdraw their Bid (s)
after the Bid/Issue Closing Date. In addition, QIBs are required to pay 10% Margin Amount upon submission of
their Bid and allocation to QIBs shall be on a proportionate basis and for further details please refer to the
section titled “Terms of the Issue” beginning on page [●] of this Draft Red Herring Prospectus.
Our Company shall comply with guidelines issued by SEBI for this Issue. In this regard, our Company has appointed
Saffron Capital Advisor Private Limited, as the BRLM to manage the Issue and to procure subscription to the Issue.
The process of book building, under SEBI Guidelines, is subject to change from time to time and the investors are
advised to make their own judgment about investment through this process of book building prior to making a Bid
in the Issue.
Illustration of Book Building and Price Discovery Process (Investors should note that this example is solely for
illustrative purposes and is not specific to the Issue)
Bidders can bid at any price within the price band. For instance, assume a price band of Rs. 20 to Rs. 24 per
share, issue size of 3,000 equity shares and receipt of five bids from bidders out of which one bidder has bid for
500 shares at Rs.24 per share while another has bid for 1,500 shares at Rs.22 per share. A graphical
representation of the consolidated demand and price would be made available at the bidding centers during the
bidding period. The illustrative book as shown below shows the demand for the shares of the company at various
prices and is collated from bids from various investors.
Bid Quantity Bid Price (Rs.) Cumulative Quantity Subscription
500 24 500 27.77%
1000 23 1500 83.33%
1500 22 3000 166.67%
2000 21 5000 277.78%
2500 20 7500 416.67%
The price discovery is a function of demand at various prices. The highest price at which the issuer is able to
issue the desired number of shares is the price at which the book cuts off i.e. Rs. 22 in the above example. The
issuer, in consultation with the BRLM, will finalise the issue price at or below such cut off price, i.e., at or below
Rs. 22. All Bids at or above this issue price and cut-off Bids are valid Bids and are considered for allocation in the
respective categories.
Steps to be taken for Bidding:
1. Check eligibility for making a Bid (see section titled “Issue Procedure” beginning on page [●] of the Draft Red
Herring Prospectus);
2. Ensure that the Bidder has a demat account and the demat account details are correctly mentioned in the
Bid-cum-Application Form;
3. Ensure that the Bid-cum-Application Form is duly completed as per instructions given in the Red Herring
Prospectus and in the Bid-cum-Application Form; and
4. Ensure that the Bid-cum-Application Form is accompanied by the Permanent Account Number. For details
please refer to the section titled ‘Issue Procedure’ beginning on page [●] of this Draft Red Herring
Prospectus. Bidders are specifically requested not to submit their General Index Register number instead of
the Permanent Account Number as the Bid is liable to be rejected.
Withdrawal of the Issue
Our Company, in consultation with the BRLM, reserves the right not to proceed with the Issue anytime after the
Bid/Issue Opening Date without assigning any reason therefor.
In the event of withdrawal of the Issue anytime after the Bid/Issue Opening Date, our Company will forthwith
repay, without interest, all monies received from the applicants in pursuance of the Draft Red Herring
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