Business Standard
 
Bangalore, Jun 10: Archidply Industries Limited is planning to set up a new manufacturing facility for plain particle boards (PPB), pre-laminated boards (PLB) and decorative plywood at Chintamani in Karnataka. The company is a manufacturer of interior products which include plywood, blockboard, plain and pre-laminated particle boards, decorative laminates and decorative veneers.
 

The company, to fund these expansions, has announced an initial public offer (IPO) to raise Rs 52.9 crore to raise expansion capex and working capital for its upcoming operations. Motilal Oswal Investment Advisors Private Limited is the lead book running manager to the issue.

The company, which manufactures its products under the 'Archidply' brand, will also set up a new manufacturing capacity for Medium Density Fibreboard (MDF) at Rudrapur in Uttarakhand where it already has operations, and will channel the rest of the funds towards working capital requirements. The company presently makes wood panel and decorative surfacing products at its facilities in Mysore and Rudrapur.

Incorporated in 1995, Archidply Industries achieved a turnover of Rs 142.82 crore during the financial year-ended 2008, compared to Rs 100.62 crore in the corresponding period of 2007. The company achieved a profit after tax of Rs 14.98 crore in 2007-08 from Rs 5.24 crore in the comparable period of the previous year.