Archidply Industries Limited, manufacturers of comprehensive engineered interior products which include Plywood, Block Board, Plain and Pre Laminated Particle Board, Decorative Laminates and Decorative Veneers, has received SEBI clearance for its forthcoming Initial Public Offer of 66,15,720 equity shares.
Also, ICRA has assigned an ICRA IPO Grade "3/5" (pronounced "three on five") to the proposed initial public offering of Archidply Industries Limited. The company had applied to ICRA for the grading of its IPO in the month of November 2007.
The capital raised from the issue will be deployed for
* Setting up a new manufacturing facility of Plain Particle Board (PPB), Pre Laminated Board (PLB) and decorative plywood at Chintamani in Karnataka,
* Setting up a new manufacturing capacity for medium density fibreboard (MDF) at Rudrapur in Uttarakhand and
* Margin Money for Working Capital
Motilal Oswal Investment Advisors Private Ltd. is the Sole Book Running Lead Manager to the IPO.
About Archidply Industries Limited
Archidply Industries Limited is the flagship company of the Archidply group. The promoters have been associated with plywood manufacturing for more than 30 years. The brand “Archidply”, has positioned itself in the premium segment of the wood panel and decorative surfacing products and is well known amongst architects, interior designers and contractors for more than three decades, making it one of the oldest active brands in its product category. Archidply group has grown significantly in recent periods from a small saw mill in Assam to a modern state of the art manufacturer of wood panel products and decorative surfacing products manufactured in an integrated multi-product facility strategically located in different geographical zones namely Mysore in south India and Rudrapur, Uttarakhand in the north of India and Assam in the east.
The company has eco friendly process and products as it uses renewable plantation timber from agro forestry activities such as silver oak trees grown at regular intervals in coffee estates and farm grown eucalyptus and poplar on short rotation basis.
Archidply Industries has installed biomass fuel based boilers at Uttarakhand thus reducing carbon emissions and thereby being eligible for carbon credits under the Kyoto Protocol. The company’s decorative laminates and water proof plywood are manufactured conforming to low formaldehyde emission standards thus reducing indoor pollution due to low gas emission caused in the environment.
Present Business Activity & its Products:-
Currently, the company’s products are manufactured in an integrated multi-product modern facility strategically located in two different geographical zones namely Mysore, Karnataka and Rudrapur, Uttarakhand. And the products are marketed through the company’s distribution network consisting of 16 marketing offices and 61 distributors and 586 dealers across the country. Archidply products comply with quality standards of BIS and International standards of BS of UK, NEMA of USA and DIN of Germany in addition the Company has been awarded an ISO 9001: 2000 for quality management systems.
Source: Moneycontrol.com
Wednesday, May 21, 2008
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