Runner to manufacture Bajaj 3-wheelers in Bangladesh

Runner Automobiles is all set to install a manufacturing plant in Bangladesh to manufacture RE 4S 3-wheeler vehicles of Indian Bajaj Auto Ltd.

This will be the first ever 3-wheeler manufacturing set up of a global brand in Bangladesh.

The board of directors of Runner Automobiles has approved to sign an agreement with Bajaj Auto Ltd, regarding this, confirmed the Dhaka Stock Exchange (DSE) on its website Wednesday.

Under the agreement, Runner Automobiles will take necessary technical support for localization of parts & components assembling, manufacturing and distributing vehicles from Bajaj Auto Ltd.

The authorities of Runner Automobiles said that they will invest approximately 300 crore taka, a part of which will be funded by (initial public offering) IPO proceeds which has already been approved by the board in their meeting held on October 28, 2019 and subsequently it was approved in the 6th EGM held on December 17, 2019 and taken approval from Bangladesh Securities & Exchange commission (BSEC) on February 24, 2020.