Sena Kalyan’s IPO subscription begins on October 3

The subscription process of the initial public offering (IPO) of Sena Kalyan Insurance Company (SKICL) is all set to commence from October 3.

The eligible investors will subscribe for the IPO shares until October 8, said company sources.

With a view to strengthening its business, the SKICL, a sister concern of Sena Kalyan Sangstha (SKS), will raise a total of Tk 16 crore by issuing 1.8 crore IPO shares at a face value of Tk 10 each.

Bangladesh Securities and Exchange Commission (BSEC), the capital market regulator, approved the IPO on August 11.

AAA Finance & Investment Ltd is playing the role of issue manager for the insurance company.

Established in 2013, the Sena Kalyan Insurance deals with fire, marine, engineering, motor and aviation insurance.

In 2016, the company made a profit of Tk 3.64 crore, which was Tk 5.14 crore in 2017, Tk 3.78 crore in 2018, Tk 9.83 crore in 2019, and Tk 9.43 crore in 2020.