Krishibid Feed Limited's shares have been oversubscribed by 25.42 times, according to the Dhaka Stock Exchange.
Investors applied for the company's shares from 10 October to 14 October. Some 513 qualified investors applied for shares to the tune of Tk559.37 crore.
Earlier, the company received approval from the Bangladesh Securities and Exchange Commission (BSEC) to raise Tk22 crore from the capital market through a qualified investor offer (QIO).
The feed maker will issue 2.20 crore general shares at Tk10 each.
The company is primarily engaged in manufacturing, selling, and distributing all sorts of feed for poultry, fish, and cattle.
Krishibid Feed will use the QIO proceeds to construct factory buildings, buy a plant and machinery, repay bank loans, and buy diesel generators and delivery vans.
According to the company's financial statements, its earnings per share (EPS) stood at Tk1.67 till 31 December 2020. The net asset value without revaluation reserve was Tk18.47.
The company cannot issue bonus shares for three years after its listing on the SME platform.
The issue manager of the company is MTB Capital Limited.
There are many other players in the feed sector such as Quality Feed, Paragon Feed, Nourish Poultry and Hatchery, Provita, New Hope Feed Mill (bd), Kazi Feed, ACI-Godrej Agrovet (Pvt), and Aftab Feed. But they are not listed on the capital market.