Archidply IPO opens for subscription

MUMBAI: Archidply Industries��� public issue of 66,15,720 lakh equity shares opened for subscription on Wednesday. The share is priced in the Rs 70-80 band. The issue closes on June 17. It constitutes 30.07 per cent of the post issue paid-up capital.

The company plans to utilise the proceeds for setting up new manufacturing facilities at Chintamani in Karnataka and Rudrapur in Uttarakhand.

ICRA has assigned Grade 3/5 to the IPO. The shares will be listed on Bombay Stock Exchange and National Stock Exchange of India.

Motilal Oswal is the sole book running lead manager to the issue.