Initial public offer of upto 53,70,000 equity shares of face value of Rs. 10/- each ("Equity Shares") of the company at an offer price of Rs. 66 per equity share (including a share premium of Rs. 56 per equity share) for cash, aggregating up to Rs. 35.44 crores ("Public Offer") comprising a fresh issue of upto 43,20,000 equity shares of face value of Rs. 10 each aggregating to Rs. 28.51 crores (the "Fresh Issue") and an offer for sale of upto 10,50,000 equity shares of face value of Rs. 10 each comprising of upto 3,00,000 equity shares of face value of Rs. 10 each by Bhawanji Khimji Shah, upto 3,75,000 equity shares of face value of Rs. 10 each by Hiren Bhawanji Shah and upto 3,75,000 equity shares of face value of Rs. 10 each by Deven Bhawanji Shah ("the Selling Shareholder or "Promoter Selling Shareholders") ("Offer for Sale") aggregating to Rs. 6.93 crores, out of which 2,70,000 equity shares of face value of Rs. 10 each of face value of Rs. 10/- each, at an offer price of Rs. 66 per equity share for cash, aggregating Rs. 1.78 crores will be reserved for subscription by the market maker to the offer (the "Market Maker Reservation Portion"). The public offer less market maker reservation portion i.e. net offer of 51,00,000 equity shares of face value of Rs. 10 each of face value of Rs. 10/- each, at an offer price of Rs. 66 per equity share for cash, aggregating up to Rs. 33.66 crores is hereinafter referred to as the "Net Offer". The public offer and net offer will constitute 27.09% and 25.73% respectively of the post-offer paid-up equity share capital of the company.