Archidply Industries Limited, has received tremendous response inspite of turbulent market conditions for its Initial Public Offer (IPO) of 66,15,720 equity shares of Rs 10 each for cash at a price band of Rs 70 to Rs 80. The issue which opened for subscription on Wednesday June 11, 2008 has over subscribed by 1.52 times and received more than 1,00,32,900 bids (till 17:30 hrs source: NSE website).

The issue comprising of 66,15,720 equity shares will constitute 30.07% of the fully diluted post issue paid up equity share capital of the company. The face value of equity shares of Rs. 10 and the floor price is seven times of the face value at the lower end of the price band and eight times at the upper end of the price band.The proceeds from the IPO will be used to set 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 Limited is the book running lead manager for the issue and Karvy Computershare Private Limited is the registrar to the issue.

Tags: calls, daytrading, free calls, intraday, tips

Similar Posts:

• Archidply Inds IPO opens on June 11, price band at Rs 70-80
• V-Guard IPO oversubscribed 2.7 times
• Future Cap IPO oversubscribed 8.7 times on day 2
• Tata Cap issue oversubscribed 6 times
• Adani Power IPO subscribed 4.55 times