eGeneration, the first software technology company to go public,will make its debut on the bourse on February 23.
The company will begin trading under the N category and move to another bracket depending on the amount of dividend it announces.
eGeneration has raised quite the interest among general investors, who placed orders for shares 40.76 times their allotted amount.
Investors booked shares worth more than Tk 611.4 crore against the Tk 15 crore allocated for them.
The 17-year-old company, which is the only Bangladeshi licencing solutions partner (LSP) of Microsoft and premier partner of SAP (ERP solutions provider), plans to use about 65.6 per cent of the IPO proceeds for business expansion.
And the crown jewel of eGeneration’s business expansion plans is a digital healthcare platform.
At present, eGeneration offers low-cost IT services to banks and financial institutions, garment and textile factories, consumer goods industries, e-commerce, business-to-business platform and different departments of the government.
Some of its notable clients include the ICT division, Sonali Bank, Robi, bKash, S Alam Group, Brac University.
About 52 per cent of eGeneration’s revenue of Tk 39.6 crore in its 2019-20 financial year came from three clients: Bangladesh Computer Council (21.3 per cent), Robi (19.4 per cent) and Sonali Bank (11.7 per cent), according to Brac-EPL’s research.
“Although the industry can be run remotely, the regular activities of the industry were hampered due to cancellation or postponement of products from the client-side resulting from the COVID-19 pandemic,” the report said.
The company, which raised Tk 15 crore from the capital market under the fixed price method, received approval from the Bangladesh Securities and Exchange Commission (BSEC) on October 21, 2020.
