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Techno Drugs IPO Bidding Begins with 30% Discount

Industry: Pharma, Stock Market
Company: Techno Drugs Ltd
Company Intelligence Tag: Business Insights

Techno Drugs Limited is set to initiate its IPO bidding process from April 21 to April 24, through electronic bidding, aimed at determining the cut-off price for its shares. General investors can avail the company’s shares at a significant 30% discount from the cut-off price.
Eligible investors, with a minimum bidding value of Tk20 lakh, will participate in the electronic bidding process. These include pension, provident, and gratuity funds with a minimum investment of Tk1.50 crore, along with other investors maintaining a minimum investment of Tk3 crore in matured listed securities as of April 8. Techno Drugs plans to raise Tk100 crore for business expansion through the IPO under the book-building system. The funds will be allocated towards upgrading its Narsingdi factory, construction projects in Gazipur, machinery procurement, loan repayment, and IPO expenses. This move reflects the company’s strategic efforts to enhance its manufacturing capabilities and expand its operations.

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