Sheltech Ceramics Limited successfully raised Tk150 crore through the issuance of non-convertible cumulative preference shares, aiming to curtail financial costs and preemptively mitigate future financial risks. Concerns about rising financial costs led the company to take this strategic step approximately six months ago. The move involved negotiations with several financial institutions, including leading banks, which agreed to invest in Sheltech Ceramics’ preferred shares.
This decision is expected to alleviate fund costs amid increasing bank interest rates, currently ranging from 10.5% to 11%. Sheltech Ceramics, having commenced commercial production in February 2019, boasts a modern factory and European technology. Despite not engaging in advertising, the company’s strong brand value has facilitated the successful sale of its premium-quality wall and floor tiles, with the current production capacity standing at 4.20 lakh square feet per day.
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