The Dhaka Stock Exchange on July 5, 2021 allocated IPO shares where a general investor will get 54 shares of the company who applied with a Tk. 10,000 while 108, 162, 216 and 270 shares will be given to those investors applying with Tk20,000, Tk30,000, Tk40,000 and Tk50,000 respectively along with 128 shares for non-resident Bangladeshi.
The IPO shares has been distributed among investors on a prorata basis where each applicant would get a share.The cut-off price for each share has been issued at Tk. 32 following the approval of the Bangladesh Securities and Exchange Commission (BSEC). The company expects to raise Tk. 225 crore towards its business expansion utilising Tk. 144.34 crore to invest in its two subsidiaries Karnaphuli Power Ltd and Baraka Shikalbaha Power Ltd with power generation capacity of 110 MW and 105 MW respectively. Additionally it also intends to utilise Tk. 74.9 crore for its debt. General investors who have also been offered a 10% di