praveen
09-06-2008, 06:25 PM
Plywood maker Archidply Industries Ltd plans to raise up to Rs 52.8 crore through an initial public offer of shares and would use the fund to set up two new units, senior officials said on Monday.
The company plans to scale up its manufacturing capacity to 45 million square metres from 22 million square metres, Joint Managing Director, Shyam Daga told reporters.
It would set up a new particle board making unit in the southern state of Karnataka and another unit in the northern state of Uttarakhand to manufacture medium density fibreboard, Chairman and Managing Director, Deen Dayal Daga said.
The company expects good demand for its products due to the boom in the real estate and infrastructure sectors, they said.
"The replacement market is also huge with the change in consumer preference," Shyam Daga said.
The company is offering 6.61 million shares or 30.07 per cent of the post-issue paid-up capital, at a price band of Rs 70-80 per share, valuing the company at Rs 176 crore at the upper end of the price band.
The issue, which opens on June 11 and closes on June 17, 2008, is lead managed by Motilal Oswal Investment Advisors Pvt Ltd.
The company plans to scale up its manufacturing capacity to 45 million square metres from 22 million square metres, Joint Managing Director, Shyam Daga told reporters.
It would set up a new particle board making unit in the southern state of Karnataka and another unit in the northern state of Uttarakhand to manufacture medium density fibreboard, Chairman and Managing Director, Deen Dayal Daga said.
The company expects good demand for its products due to the boom in the real estate and infrastructure sectors, they said.
"The replacement market is also huge with the change in consumer preference," Shyam Daga said.
The company is offering 6.61 million shares or 30.07 per cent of the post-issue paid-up capital, at a price band of Rs 70-80 per share, valuing the company at Rs 176 crore at the upper end of the price band.
The issue, which opens on June 11 and closes on June 17, 2008, is lead managed by Motilal Oswal Investment Advisors Pvt Ltd.