IPO Snapshot
 
Shirdi Panel Industries Ltd.
Issue Open Date NA  
Issue Closing Date NA  
Application Money 100  
Allotment Money 0  
Price Band -  
Minimium Application No.  
Issue Size (Shares) 6500000  
Market Lot 1  
Objective
The objects of the Issue are:(a) To fund the setting up of manufacturing facilities at Gummidipoondi near Chennai, which willinter-alia include manufacturing facilities for production of MDF board of thickness 8mm to25mm and production of MDF board from 2.3mm to 8mm, decorative laminate line, a printingline, pre-lamination lines, and development of land and infrastructure for the aforesaid purposes,(“Chennai Expansion”);(b) To fund the capital expenditure for civil work and purchase of additional equipment at ourPantnagar unit in Uttarakhand which will primarily pertain to production of particle boards,(“Uttarakhand Expansion”);(c) Expenses towards general corporate and other purposes; and(d) Expenses incurred in connection with the proposed Issue.
Category No. of Shares No. of Shares Subscription Ratio
  Offered / Reserved Bid For  
Non-Institutional Investors        
Qualified Institutional Buyers        
Retail Individual Investors        
Business Description:
Our Company is a wood based interior furnishings solutions provider, primarily engaged in the manufacture of anarray of wood based panel products which include medium density fibre (“MDF”), boards, particle boards, prelaminatedMDF and particle boards, laminates, flooring, door skins, panel doors, modular furniture and other alliedproducts. The existing business of our Company comprises manufacturing the aforementioned products and trading insteel, chemicals, paper, thin boards and other related items required for the furniture industry, which include PVCwrapped profiles and PVC edge bends. We also trade in transferable export incentives by offering forward selloptions to exporters and purchase options to the importers at deferred payment basis.Incorporated as Shirdi International Engineers Private Limited on December 15, 1993, as a private company limitedby shares under the Companies Act, our Company, was initially engaged in the business of providing consultancyservices in connection with tax, export and import related matters. Subsequently, we ventured into trading in exportincentives, wood based furnishing products and various commodities.In the year 2002, our Company ventured into manufacturing of wood based panel products. Pursuant to anarrangement with Jyoti Panels Private Limited located at MIDC, Mhape, Navi Mumbai, a company engaged in themanufacture of doors and door-skins. In October, 2003, our Company acquired the operating plant and machinery andstock of raw material and finished goods from Jyoti Panels Private Limited and additionally invested in plant andmachinery for production of Panel Doors and Furniture Components at Navi Mumbai. In December, 2006, ourCompany ceased its operations at Navi Mumbai and the plant and machinery was sold to M/s S N Sales Corporation,a partnership firm in which our Company was a partner. Subsequently, our Company retired as a partner from theaforesaid partnership firm and the plant and machinery sold to M/s. S N Sales Corporation was repurchased by us forthe purposes of our Pantnagar unit and our Coimbatore unit. We commenced manufacturing operations from ourPantnagar unit in February 2007. We currently manufacture plain particle board, plain MDF Board, Pre-laminatedParticle Board, pre-laminated MDF Board, high pressure laminates, doors and door skins, furniture, furniturecomponents, and flooring at our manufacturing facilities at Pantnagar, Uttarakhand.In 2009, our Company commenced production at our facility at Coimbatore for manufacturing of designer doors,panel doors, lamination of particle boards and MDF boards. Our Company took over some plant and machineryrelated to Particle board, Pre-lamination, impregnation, ceiling tiles and utility from Rampur plant of Kitply Limitedfor manufacturing facility at Coimbatore. We also expanded our manufacturing capacity for decorative laminates atour Pantnagar unit in 2009.Our Company currently proposes to implement expansions at our manufacturing facilities at Pantnagar, Uttarakhand,and also establish a new manufacturing facility at Gummidipoondi near Chennai, Tamil Nadu, for establishing a MDFPlant for producing MDF board of thickness 8mm to 25mm and another MDF Plant for producing MDF board from2.3mm to 8mm, decorative laminate line, a printing line and pre-lamination lines. We also propose to establish amanufacturing facility at Bhiwandi, District Thane, Maharashtra, for manufacturing edge solutions for wood basedfurniture products.Our Company has executed agreements for exclusive distributorship rights in India for PVC wrapped profiles whichare used for producing edge solutions in modular furniture, with M/s. AGT Furniture Components, Turkey, and withM/s. PROBOS – PLASTICOS SA, Portugal for the distribution of PVC edge bends, used to cover the edges of boardsused for manufacturing furniture.Our Company manufactures plain and pre-laminated particle boards conforming to E 1 grade and the production ofMDF boards conforming to E 1 grade is in the advance stage of development. Our Company has received an ISO9001-2008 certification for manufacture and supply of all the products manufactured in the plant located atUttarakhand. The products manufactured by our Company qualify for ECO mark and related ISI standards and aremarked on request.
Promoter's Holding
Total Share Capital    
Offered to Public    
Promoter's Holding (Pre-Issue)    
Promoter's Holding (Post-Issue)    
Address
A Wing Mhatre Pen
I I Floor
S B Marg Dadar
Mumbai ,
Maharashtra ,
400028
Phone : 022-24318550
Email : bknath@asisindia.com
Website : www.asisindia.com
Registrar
MUFG Intime India Pvt Ltd.
C 101
247 Park
LBS Marg
Vikhroli (West)
Mumbai
Listed at
BSE, NSE
Lead Manager
Collin Steward Inga Pvt Ltd
Yes Bank Ltd
Promoters
Asis Industries Pvt Ltd
Hariram Agarwal
Mukesh Bansal
Rakesh Kumar Agarwal
Sarvesh Agarwal