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Wednesday, November 07, 2007

Archidply Industries files DRHP with Sebi

Archidply Industries, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on November 5, 2007 to raise funds from the capital market.

Archidply Industries proposes to use the proceeds from the initial public offer (IPO) primarily for setting up a new manufacturing facility at Chintamani, Karnataka for plain particle board (PPB), pre laminated particle board (PLB) and decorative plywood and manufacturing facility at existing unit to manufacture medium density fibreboard (MDF) located at Rudrapur, Uttarakhand.

Archidply Industries is the flagship company of the Archidply group which has been associated with plywood manufacturing for more than 30 years.

The companies operational income and profit after tax (PAT) for the financial year ending March 31,2007 stood at Rs 9,842.37 lakh and Rs 524.85 lakh respectively. The operational income and profit after tax (PAT) for the half year ended September 30, 2007 stood at Rs 6,580.81 lakh and Rs 680.85 lakh reflecting a growth of 34% and 159% respectively on annualized basis.

The company has set up a large distribution network and operates through 16 marketing offices and 61 distributors and stockists across the country.


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