Techno Drugs Plans To Raise Tk100cr Through IPO
Techno Drugs Ltd plans to raise Rs 100 crore through an initial public offering (IPO) through a book-building system.
According to company sources, they intend to allocate Tk 25 million for modernization and reconstruction of their Narsingdi plant, Tk 15 billion for construction work at BC Bari, Gazipur, Tk 27 billion for procurement of equipment, Tk 30 billion for debt repayment loan and Tk . 3 million covers. IPO costs.
In Bangladesh, when a company wants to earn a premium, institutional investors set a target price for the shares in the offerings, and general investors can buy the underlying shares at a discount.
According to the book's criteria, Techno Pharmaceuticals is holding an auto show in Dhaka on October 14 to promote the company to institutional investors.
Institutional investors including commercial banks, portfolio managers, asset managers, mutual funds and mutual investment schemes and stock traders will participate in the exhibition.
The issue managers of the company are EBL Investments Limited and Imperial Capital and the registrar of the issue is BMSL Investments Limited.
The company's financial report for 2022-23 shows that the drug maker earned Tk 273.35 million in revenue from Tk 502.85 million in the same period a year ago. Net profit after tax was Rs 19.55 crore, down from Rs 47.98 crore a year ago.
In the year 2022-23, earnings per share stood at Tk 2.08 compared to Tk 5.10 in the previous year.
The net asset value with valuation was 27.74 tenge per share, and without valuation at the end of June 2023 it was 22.57 tenge.
One of the fastest growing drug manufacturers in the country, the company started its journey in 1996 by manufacturing essential veterinary drugs that were not available in the country.
Prioritizing the availability of locally produced, high-quality medicines will lead to sustained market growth. In 2010, the company started manufacturing anti-cancer drugs for the first time in the country due to the increasing number of cancer patients in Bangladesh and its dependence on imported oncology drugs.
In a very short period of time, Techno Medicines Ltd. conquers the healthcare market due to its quality products, strong distribution channels and recognition by doctors and patients.
Techno Drugs Ltd. has introduced a large number of anti-cancer molecules in the Bangladesh market. In 2015, to meet the growing demand, the company opened a state-of-the-art factory at BC Bari, Ghazipur.
The company is also a leading manufacturer of hormonal drugs, the largest supplier of injectable hormonal drugs to the government, and the world's fifth largest manufacturer of contraceptive implants, the first of its kind in Bangladesh.
