BSEC Approved Tk 63.75cr IPO of IFAD Autos Limited. The Securities regulator Bangladesh Securities and Exchange Commission (BSEC) on Wednesday, 17th September approved an IPO of IFAD Autos Limited to go for public worth Tk 63 crore 75 lacks to float 2.12 crore and 50 thousand ordinary shares at offer value at Tk 30/- including 20 taka as premium.
The decision was taken at a 527th regular meeting of the commission chaired by its chairman Mr. Khairul Hossain.
This company will use the IPO fund to repaying the bank loan and meet up its IPO expenses.
As per the IFAD Autos financial statements ended on June 30, 2014, the earning per share (EPS) was 5.16/- with net asset value (NAV) of 44.12/- per share.
Benco Finance & Investment Limited and Alpha Capital Management Ltd will acts as the issue manger of this IPO.
About the Company:
BSEC Approved Tk 63.75cr IPO of IFAD Autos Limited. FAD group is rooted in the very development of the country of Bangladesh.The group established IFAD Autos Ltd in 1985. As its pioneering company to serve the transportation needs of Bangladesh by taking up the sole dealership and providing a massive range of commercial vehicles from Renowned Ashok Leyland. It had supplied over 20000 vehicles to more then 1000 of organizations in the whole country. The company earns over Fifty Million taka in every year and has recently been declared as one of the largest and most credit-worthy borrowers in the Bangladesh; current it has ranked in 8 position. IFAD is Leading the Auto market with heavy duty commercial transport for last 12 years, IFAD Autos made a momentous entry into the Light Cargo Vehicle market, by a special brand of Ashok Leyland called “DOST” which is a joint-venture with Nissan Co., Japan.
IFAD Autos Ltd
Address : Sonartori Tower (14-17th Floor)
12, Biponon Commercial Area Sonargaon Road
Ifad Auto IPO Lottery Result- Click here
BSEC Approved Tk 63.75cr IPO of IFAD Autos Limited, hence IPO application forms, prospectus and IFAD Autos IPO result are going to available shortly. You may download its IPO applications forms here.