The company’s share bidding through the electronic subscription system (ESS) of the exchanges will continue until November 4
The bidding for eligible investors (EIs) to discover the cut-off price of shares of Index Agro Industries Limited will begin on November 1.
The company’s share bidding through the electronic subscription system (ESS) of the exchanges will continue until November 4.
Only institutional investors can participate in exploring the cut-off price of the company's shares under the electronic bidding process.
It will also be set based on the bids submitted by investors.
Although institutional investors are supposed to purchase shares of the company at the cut-off price, individual investors will get the scope for purchasing the shares at a 10 % discounted price through initial public offering (IPO).
The agro sector company will use the Tk50-crore IPO fund to install new machinery at its plant and repay some of its bank loans.
According to the entity’s audited financial statements for the year ending on June 30, 2019, the company’s weighted net asset value per share was Tk45.03 while earnings per share (EPS) was Tk7.07.
AFC Capital and EBL Investment Limited act as the issue manager of the company’s IPO.