Star Ceramics, among the most premium tiles and sanitary-ware companies of Bangladesh, organized a Road show at Radisson Hotel, Dhaka, to announce their plan to raise equity through IPO under book-building method.
Subject to regulatory approval, Star Ceramics intends to raise BTD 60 crore from the IPO. About BDT 43 crore for expansion of its sanitary ware project and the rest for loan repayment and meeting IPO expenses.
The program witnessed an unusually large attendance of eight hundred plus guests including eligible investors comprising merchant bankers, portfolio managers, asset managers, fund managers, stock dealers, alternative investment fund manager, recognized pension and provident fund managers, foreign investors and other investors approved by BSEC.
The program was also attended by people from Dhaka and Chittagong Stock Exchanges, the top management of Star Ceramics, the issue managers Roots Investment and ICB Capital Management, and the registrar to the issue Green Delta Capital.
Speaking on the occasion, the Chairman of Star Ceramics Syed A. K Anwaruzzaman, Managing Director Qamar-Uz-Zaman and CFO Ajay Kumar outlined the strengths, achievements and possibilities of the company.
Md. Sarwar Hossain of Roots Investment, Sohel Rahman of ICB Capital Management and Rafiqul Islam of Green Delta Capital also addressed the investors. Sarwar Hossain described how IPO of a sound company like Star Ceramics was expected to strengthen the capital market of Bangladesh.
About Star Ceramics
An examination of Red-Herring Prospectus and the credentials presented at the event shows that Star Ceramics, incorporated on 21 September 2010 was converted to limited company on 5 October 2013. The plant, the country’s single largest ceramic plant, is at Riaznagar, Baghasura under Madhabpur PS, in Habiganj on Dhaka-Sylhet highway.
The company started commercial production from 1 January 2013, and presently produces 22000 sqm tiles and 1200 units of sanitary ware per day.
Equipped with latest modern technology, Star Ceramics has already captured 16% of the domestic tiles market and 9% of the sanitary-ware. In just the five years that it has commenced production, total turnover of the company has increased twice to nearly BDT 500 crore. Star Ceramics has achieved accelerated growth in revenue, profit and earnings per share in the last three years.
Authorized capital and paid up capital of the company stood at BDT 3500 million and 1502 million as on 2017 respectively.
