Archidply Industries, has filed its DRHP with SEBI 5th November 5, 2007 to raise funds from the capital market. It plans to issue 66.15 lakh equity shares of Rs.10 each, at a price to be determined later and aims at raising Rs.55 crore.
Archidply Industries is the flagship company of the Archidply group which has been associated with plywood manufacturing for more than 30 years.
The company proposes to use the proceeds for setting up a new manufacturing facility for plain particle board, pre laminated particle board and decorative plywood at Chintamani in Karnataka and a facility for medium density fibreboard at Rudrapur in Uttarakhand.
The company proposes to introduce new products to leverage extensive distribution channels. They have plans to foray in tier II and tier III cities and export market.
Archidply's operational income and net profit for the financial year ended March 31, 2007 stood at Rs 98.42 crore and Rs.5.24 crore respectively. And for the first half of the current fiscal, the company posted an income of Rs 65.80 crore and net profit of Rs 6.80 crore.
The company has a large distribution network and operates through 16 marketing offices and 61 distributors and stockists across the country.