Shaival Reality Limited is a real estate development company incorporated in 1996 and converted to public limited company in 2015. The company is making its maiden IPO on NSE Emerge platform. The issue comprises 5,28,000 equity shares at a fixed price of Rs. 100 per share (10x face value), aggregating Rs. 5.28 crores. The company has reported negative earnings in the last two fiscal years (FY2014 and FY2015) with declining net worth and high debt-to-equity ratios. The issue aims to raise capital for ongoing and future real estate projects and working capital requirements.