Index Agro’s IPO bidding begins Nov 1

The bidding for the shares of Index Agro Industries Ltd will commence on November 1, through the book building method.

Eligible investors (EIs) can take part in the bidding to determine the cut-off price of shares of the company through electronic subscription system (ESS) of the exchanges from 5pm on November 1 to 5pm on November 4 (round the clock).

The Dhaka Stock Exchange (DSE) confirmed the information on its website Tuesday.

Valuation report submission period for Eligible investors (EIs) through Electronic Subscription System (ESS) of the exchanges will start at 10:30am on November 5 and continue till 10:30am on November 9.

Each EI who intends to participate in the electronic bidding shall maintain a minimum investment of 1 crore taka only in listed securities as on the end of October 21, 2020, as per clause (e) of sub-rule (1) of rule 2 of the Bangladesh Securities and Exchange Commission (Public Issue) Rules, 2015.

The minimum bidding value for bidding will be 45 lakh taka which is in accordance with the BSEC consent letter to Index Agro Industries Ltd (Ref: BSEC/CI/BB-06/2016/232 dated October 15, 2020).

The Central Depository Bangladesh Limited (CDBL) will send a report to the exchange regarding holding of Eligible investors (EIs) in listed securities and the exchange shall ensure the compliance in this regard, according to the DSE website.

Participating EIs will be required to pay full bid amount (100%) and bidding fee 5,000 taka through the City Bank Ltd in between 10:00am of November 1, 2020, to 2pm of November 4, 2020 (during banking hour). The account name is Dhaka Stock Exchange Limited, and the account number is 1121063938001.

Interested EIs have been asked to visit: https://www.essbangladesh.com for the bidding related updates.