Archit Nuwood Industries has received in-principle approval from the Bombay Stock Exchange (BSE) for what is set to be the second largest SME IPO.
The Haryana-based company’s IPO is expected to launch later this month, with an anticipated issue size of around Rs 170 crore.
IPO Details
Issue Size: Approximately Rs 170 crore
Type of Issue: Fresh issue of shares
Shares to be Issued: 62.40 lakh shares
Current Shareholding:
Vineet Kumar: 25.79 lakh shares
Vinod Kumar Singla: 6.48 lakh shares
Prem Chand: 19.46 lakh shares
Fund Utilization
The proceeds from the IPO will be used for:
Increasing production capacity
Expanding market reach
Investing in new technologies
The company previously raised Rs 19.22 crore in a pre-IPO round by issuing 10.68 lakh shares at Rs 180 each.
Key investors in this round included Negen Capital, Vijay Khaitan (Executive Director of Param Capital), Ankit Mittal, and Gunwant Vaidya.
Company Overview
Founded: 2017
Products: Medium Density Fiberboard (MDF), High Density Fiberboard (HDF), and pre-laminated sheets
Location: Tohana, Haryana
Facilities: State-of-the-art MDF and HDF plants, short-cycle presses, a variety of pre-laminated board textures
Market Growth
The wood-based panel sector is expanding due to a robust local economy and increased demand from retail, hospitality, and healthcare sectors.
Share India Capital Services is the book-running lead manager, and Mashitla Securities is the registrar.
The price band and lot size for the IPO will be determined in consultation with the lead manager.
