Archidply Industries will enter the capital market with an initial public offering, IPO of 66,15,720 equity shares of Rs 10 each through 100% book building process on June 11, 2008.

The issue will constitute 30.07% of the fully diluted post issue paid up equity share capital of the company. The price band has been fixed at Rs 70-Rs 80 per equity share.

The issue will close for subscription on June 17, 2008.

Archidply is major manufacturers of comprehensive engineered interior products, which include Plywood, Block Board, Plain and Pre Laminated Particle Board, Decorative Laminates and Decorative Veneers.

ICRA has assigned ICRA IPO Grade "3/5" (pronounced "three on five") to the proposed initial public offering of Archidply Industries Limited.

The company plans to raise up to Rs 52.80 crore through its initial public offer and would use the fund to set up manufacturing plants for particle wood and medium-density fibreboard (MDF) from its IPO proceeds.

The particle wood plant will be set up at Chintamani in Karnataka, while the MDF plant is scheduled to come up at Rudrapur in Uttarakhand.

Further, the proceeds would also be deployed towards margin money for working capital.

Motilal Oswal Investment Advisors Private Ltd is the book running Lead manager.