Sejal Glass Limited , a prominent player in the glass industry, has announced its intention to explore fundraising options through equity shares or warrants. The company's board of directors is set to meet on September 15, 2025, to discuss and potentially approve a proposal for raising capital.

Board Meeting Announcement

In a regulatory filing to the BSE and NSE, Sejal Glass informed that a meeting of its Board of Directors is scheduled for Monday, September 15, 2025. The primary agenda of this meeting is to consider, evaluate, and approve a proposal for fund raising.

Fundraising Options Under Consideration

The company is exploring various avenues for raising capital, including:

• Issuance of equity shares
• Issuance of convertible warrants
• Preferential issue
• Other permissible modes of fundraising

The board will also consider a combination of these methods to secure the necessary capital for the company's operations and growth plans.

Regulatory Compliance

Sejal Glass emphasized that any fundraising activity would be conducted in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, and all other applicable laws, rules, regulations, and guidelines prescribed by regulatory and statutory authorities.

Shareholder Approval

The company noted that the proposed fundraising plan would be subject to necessary approvals, including that of the company's shareholders through a postal ballot.

Trading Window Closure

In line with regulatory requirements and the company's internal policies, Sejal Glass has already closed its trading window. The window will remain closed until 48 hours after the conclusion of the company's 27th Annual General Meeting, ensuring compliance with insider trading regulations.

This strategic move by Sejal Glass to consider various fundraising options could potentially strengthen the company's financial position and support its future growth initiatives. Investors and stakeholders will be keenly watching the outcome of the upcoming board meeting for further details on the company's capital raising plans.

Sejal Glass Limited, a company undergoing Corporate Insolvency Resolution Process (CIRP), has submitted its audited financial results for the fiscal year ended March 31, 2020, revealing substantial losses and a significant decline in revenue.

Financial Performance

The company reported a net loss of Rs 21.50 crores for the year, with quarterly losses ranging from Rs 5.22 crores to Rs 5.94 crores. The total income from operations saw a sharp decline, dropping to Rs 3.72 crores compared to Rs 8.54 crores in the previous year.

Insolvency Resolution Process

Sejal Glass Limited has been under the Corporate Insolvency Resolution Process since February 2019. Mr. Prashant Jain has been appointed as the Resolution Professional to oversee the process. In a significant development, a resolution plan submitted by Dilesh Road Lines Private Limited has been approved by the Committee of Creditors. The National Company Law Tribunal (NCLT) has reserved its order on July 2, 2020, regarding this resolution plan.

Auditor's Observations

The auditors have issued a qualified opinion on the financial statements, highlighting a notable discrepancy in the company's liabilities. According to the auditors, the liabilities are understated by Rs 55.94 crores. This observation is based on the difference between admitted claims of Rs 149.36 crores and book liabilities of Rs 93.41 crores.

Capital Structure

Despite the financial challenges, Sejal Glass Limited's paid-up equity share capital remains unchanged at Rs 33.55 crores. However, the company reported negative reserves of Rs 185.41 crores, reflecting the severe financial strain it is experiencing.

The ongoing insolvency resolution process and the approval of a resolution plan by the Committee of Creditors mark critical junctures for Sejal Glass Limited. Stakeholders will be closely watching the NCLT's decision, which could potentially chart the future course for the company amidst its financial difficulties.