The initial public offering (IPO) of Taufika Foods and Agro Industries that markets ice-cream branded under the name Lovello began on January 3rd, 2024. Investors are permitted to subscribe to the shares of the company by 7 January. Bangladesh Securities and Exchange Commission (BSEC) at its meeting on 14 October last year approved the IPO to set up a Tk 30 crore fund. The Lovello Ice Cream IPO Result will be published soon and you can find all the details related to it on our website.
Lovello Ice Cream IPO Prospectus
Taufika Foods and Agro Industries Limited has obtained the consent of BSEC to be enlisted in Bangladesh’s fixed price market. Bangladesh Securities and Exchange Commission (BSEC) has authorized an Initial Public Offering (IPO) prospectus to collect Tk. for 30 crores from the stock market via the fixed price method.
Bangladesh Securities and Exchange Commission (BSEC) approved the initial public offering (IPO) of Taufika Foods and Agro Industries Limited at its 747th regular meeting of the Commission held on 15 October 2024. The Lovello Ice Cream IPO Result is listed under the sector ‘Food’. You can find the IPO Prospectus of Lovello Ice Cream IPO Result below.
Lovello Ice Cream IPO Result Download
Lovello Ice Cream IPO lottery Result will be published on 27th January 2024. Download result link from bellow
Lovello Ice Cream IPO Subscription Summary
Earlier on 15 October, the stock market regulator—Bangladesh Securities and Exchange Commission (BSEC)—approved the company’s plan to raise Tk 300 million from the capital market through an initial public offering. According to the Lovello Ice Cream IPO Result, as per regulatory approval, Taufika Foods will issue 30 million ordinary shares at an offer price of Tk 10 each using the fixed price process.
According to the prospectus, the company will use IPO revenues for the procurement of plant and equipment (Tk 90.36 million), the purchase of freezer (Tk 57.84 million), the purchase of vehicles (Tk 20.56 million), the expansion of its depot capacity (Tk 13.27 million), the repaying of bank loans (Tk 90 million) and the IPO related costs (Tk 28 million).
Banco Finance & Investment and Sandhani Life Finance are jointly responsible for managing the IPO phase of the business. According to the financial statements concluded on 30 September 2021, the net asset value of the company (NAV) per share and the basic earnings per share were Tk 12.17 and Tk 1.20, respectively.
About Lovello Ice Cream Company
Lovello is the brand name of the ice cream marketed byTaufika Foods and Agro Industries Limited, which was formed as a Private Limited Company by shares under the Companies Act, 1994, on 7 August 2011 and subsequently transformed into a Public Limited Company on 08 July 2024.
The company envisages setting up an Ice Cream manufacturing plant with an initial production capacity of 50,000 liters per day, with the potential for further expansion. The project site is located in Valuka, Mymensingh, a significant industrial area of the country. The Lovello Ice Cream IPO Result has been released recently.
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