Archidply to raise Rs 53 cr through IPO

KOLKATA: Archidply Industries would raise Rs 53 crore from the capital market for setting up a new manufacturing facility at Chintamani in Karnataka.

The Bangalore-based company would set up the new facility to manufacture plain particle board, pre-laminated board and decorative plywood.

The price band for the issue has been fixed between Rs 70 and Rs 80 per share.

The proceeds of the IPO would also used to finance setting up a new manufacturing facility for medium density fibreboard in Uttarakhand.