2024-06-09 04:48:38
The preliminary public providing (IPO) utility and subscription has began from Sunday (June 9) within the e book constructing system of Techno Medication Restricted, the nation’s specialised drug manufacturing and advertising firm, which is within the technique of itemizing within the capital market. This utility will proceed until Thursday (June 13). The corporate will elevate funds from common traders in the course of the dialogue interval with a view to itemizing within the capital market.
The corporate’s cut-off worth has been fastened at Rs. Traders should purchase every share by making use of at 30 p.c lower than the cut-off worth i.e. 24 rupees.
In response to the corporate’s newest printed prospectus, the corporate’s EPS (earnings per share) for the final 9 months (July 1, 2023-March 31, 2024) stood at Rs 2.58. The corporate’s revenue per share was Rs 1.90 within the corresponding interval of the earlier monetary yr. Because of this, the corporate’s revenue per share has elevated by Tk 0.68 or 35.79 p.c within the present quarter.
In response to firm sources, Techno Medication Firm is a novel identify within the pharmaceutical market of Bangladesh. Since its inception, the corporate has been producing and advertising uncommon and important or specialised medicines within the Bangladeshi market. Bangladesh has just lately gained a status for lowering maternal mortality and inhabitants management. And Techno Medication has performed a useful function in attaining that. As a result of many of the important medicine bought by the Bangladesh authorities, together with contraception, are produced and provided by Techno Medication Restricted.
Earlier than this, the bidding (public sale) of the corporate was held from 4 pm to 24 April final 21 April. The cut-off worth of techno medicine within the public sale has been fastened at Rs.34. Nonetheless, within the IPO utility, the traders will get 30 p.c much less i.e. 24 rupees widespread shares.
On March 7, the corporate acquired permission to withdraw 100 crores from the inventory market by way of IPO. By means of this the corporate will withdraw 100 crore rupees. The proceeds from the IPO will likely be utilized by the corporate for buy of latest equipment, BMRE (Narsingdi manufacturing unit), constructing development (Gazipur manufacturing unit), partial debt reimbursement and concern administration bills.
On this regard, the corporate secretary of Techno Medication Restricted, Debashish Das Gupta, mentioned that among the many medicine that the Bangladesh authorities buys for contraception by way of authorities buy orders, Techno Medication provides nearly two-thirds of the medicine on common. Mainly, the corporate has been serving to the federal government to attain the goal by producing these specialised medicines. Other than contraception medicine, the corporate has been producing most cancers medicine for the Bangladeshi market. Techno Medication is among the main most cancers drug producers in Bangladesh.
He additionally mentioned that Techno Medication is the promoter of veterinary medication within the nation. The corporate can also be at present manufacturing the veterinary drug. Since its inception, the corporate has targeted on assembly the demand of non-vegetarians in Bangladesh and benefiting farmers by way of pharmaceutical manufacturing. As a result of together with the expansion of Bangladesh’s inhabitants, the demand for important non-vegetarian meals has elevated. As individuals develop an increasing number of, there’s a want to supply extra meat and eggs in much less land or farms. That’s the reason Techno Drug is specializing in the manufacturing of latest medicine maintaining in thoughts the wants of the individuals. That is how the corporate has carved a distinct segment within the pharmaceutical business.
By the way, Techno Medication Restricted was registered as a personal firm in 2009. Nonetheless, the corporate began industrial operations on July 1, 2010. The corporate first began with veterinary merchandise. Techno Medication is the promoter of veterinary merchandise within the nation. Later began working with human medication. The corporate ranked fourth in pharmaceutical exports in 2014. Then in 2015 and 2016, it received the third place. Imperial Capital Restricted and EBL Investments Restricted are managing the problem of the corporate.