The IPO will stay open for both resident and non-resident Bangladeshis till August 16
The Initial Public Offering (IPO) of Indo-Bangla Pharmaceuticals Limited is set to begin today. The company is aiming to raise Tk20 crore from the general public.
The IPO will stay open for both resident and non-resident Bangladeshis till August 16. The company will float 20 million shares at an issue price of Tk10 each under the fixed price method. The lot size has been set at 500 shares.
The IPO of Indo-Bangla Pharma was approved by the Bangladesh Securities and Exchange Commission (BSEC) on 03 October 2017.
According to the IPO prospectus, the company will utilize 29.29% of the IPO proceeds for construction and other civil work, 62.36% for machinery, and 8.35% to meet IPO expenses.
AFC Capital, EBL Investments, and CAPM Advisory are jointly working as issue manager for the IPO.
As per the financial statement ended on June 30, 2017, the company’s Net Asset Value (NAV) per share and Earnings per Share (EPS) stood at Tk 12.84 and Tk 1.21 respectively.
Indo-Bangla Pharmaceuticals, the flagship company of IBP group, was established in Barisal in 1954. The company was incorporated as a private limited company under the Companies Act on June 18, 2014, and was converted into a public limited company on October 21, 2014.