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GPH Ispat To Raise Tk242 Crore For Business Expansion - BIZDATA INSIGHTS

GPH Ispat to Raise Tk242 Crore for Business Expansion

Industry: Building Material, Steel, Stock Market
Company: GPH ispat Limited
Company Intelligence Tag: Business Insights

GPH Ispat plans to raise Tk242 crore by issuing rights shares at Tk15 each, with a Tk5 premium, to fund expansion and improve financial stability. The company will offer one rights share for every three existing shares. Shareholder approval will be sought at an extraordinary general meeting (EGM) on October 20, with a record date of September 18. The funds will support the construction of a new plant aimed at boosting production capacity and generating Tk450 crore in annual revenue. The company has experienced significant growth, with revenue increasing fivefold to Tk5,900 crore in FY23 due to its new plant and rising exports. GPH Ispat reported a profit of Tk64 crore for the first three quarters of FY24, rebounding from a loss the previous year.

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