2024-08-22 06:47:20
Published: 12:31, 21 August 2024
Orion Power Rupsa Limited, a company of Orion Group, has suspended the road show to be held as part of the initial public offer (IPO) process in the bookbuilding process with the aim of listing in the capital market.
The road show was scheduled to be held on Wednesday (August 21) at a five-star hotel in the capital.
The company planned to enter the capital market through an IPO through book building method. Shanta Equity Limited is the issue manager of the company.
It is known that the company is supposed to collect Tk 250 crore from the capital market through IPO. The company plans to buy ocean going ships with this money.
A senior official of Shanta Equity, who did not want to be named about the postponement of the road show, said the company had prepared the prospectus based on the financial statements for the 10 months up to April this year. Later it was decided that a fresh application would be made based on the audited financial report of the end of June (July’23-June’24).
According to information, Orion Power Rupsa Limited is primarily a power generation company. Currently operating a power plant in Rupsa Upazila of Khulna District. The power generation capacity of this center is 110 MW. It is an independent power plant, with a tenure of 15 years. The power plant started commercial production on 14 October 2018, supplying power to the national grid since then.
Dhaka/NT/Emon