• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Paul Noronha

Mr Deen Dayal Daga (right), Chairman and Managing Director, Archidply Industries Ltd, with Mr Shyam Daga, Joint Managing Director, at a press conference to announce the company’s IPO in Mumbai on Monday. —

Our Bureau

Mumbai, June 9 Archidply Industries Ltd, manufacturers of plywood, comprehensive engineered interior products, is entering the capital market with an initial public offering of 66 lakh equity shares of Rs 10 each. The price band has been fixed between Rs 70 and Rs 80. The issue will open on June 11, 2008 and will close on June 17. The company intends to raise Rs 52.9 crore at the upper end of the price band. The issue will constitute 30.07 per cent of the fully diluted post issue paid up equity share capital of the company. The shares of the company are proposed to be listed on both the BSE and the NSE.

The company plans to use the proceeds from the issue to set up a new manufacturing unit of plain particle board, pre-laminated board and decorative plywood at Chintamani in Karnataka. It will also use the proceeds to set up a new manufacturing facility for Medium Density Fibreboard at Rudrapur in Uttarkhand.

The book running lead manager for the issue is Motilal Oswal Investment Advisors Pvt Ltd.

More Stories on : IPOs | Interiors & Homes

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Corporate developments

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line