Nuwud raises Rs. 170 Cr through an IPO, setting up new MDF plant of 1000 cubic mtrs

person access_time3 12 June 2024

In the fiscal year 2023-2024, Nuwud demonstrated remarkable performance, achieving a 23% year- on-year growth. Currently, they boast a capacity of 126,000 cubic meters of MDF and 5.6 million HPL sheets.

As an emerging player in the laminate industry, Nuwud is committed to meeting the growing demand for 10x4.25 ft products in India. Their primary goal is to cater to the domestic market's needs before expanding their supply globally.

Mr. Vinod Singla, Managing Director of the company said, “We are excited to announce our plans to raise approximately 170 crores through an IPO, aiming for a valuation of 650 crores. The IPO is expected to launch within the next month and it’s the second largest Sme Ipo . The funds raised will be invested in India’s largest plant, with a capacity of 1,000 cubic meters, and will support the production of acrylic, UV, and wooden flooring lines”.

Director Mr. Archit Singla asserts that his new plant is slated to commence operations in April 2025. Additionally, the company is set to introduce several new products to the market, including edge banding, wooden flooring, UV boards, and acrylic boards”.

Nuwud is poised for continued growth and innovation, ensuring they remain at the forefront of the industry both domestically and internationally.

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