Business Daily from THE HINDU group of publications
Friday, July 4, 2008 ePaper | Mobile/PDA Version
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Business Daily from THE HINDU group of publications Friday, July 4, 2008 ePaper | Mobile/PDA Version |
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Update at 1115 hrs (IST)
Markets Archidply Industries lists at Rs 74.55 on BSE MUMBAI: Archidply Industries, engaged in the business of wooden interior products, on Friday got listed at Rs 74.55 on the Bombay Stock Exchange, with a marginal premium over its issue price of Rs 74. Within minutes of listing, the scrip lost ground and touched an intra-day low of Rs 56.10. However, on the volume front the scrip witnessed good numbers and as many as 19.47 lakh shares exchanged hands on the BSE. Similar trend was witnessed on the NSE, where the company got listed at Rs 72.90 touched an intra-day low of Rs 55.35 and over 14.83 lakh shares got traded. Archidply was trading at Rs 57.95 on the BSE and at Rs 57 on the NSE at 1007 hrs. The company got listed with 2.20 crore equity shares with an issue price of Rs 74. The proceeds of the issue would be utilised for setting up a new manufacturing facility at Chintamani in Karnataka. The Bangalore-based company would set up the new facility to manufacture plain particle board, pre-laminated board and decorative plywood.
Besides, the funds raised would also be used to finance setting up a new manufacturing facility for medium density fibreboard in Uttarakhand. - PTI
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