Krishibid Feed withdraws IPO due to pandemic havoc
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Wednesday
February 08, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
WEDNESDAY, FEBRUARY 08, 2023
Krishibid Feed withdraws IPO due to pandemic havoc

Stocks

Salah Uddin Mahmud
12 August, 2020, 10:05 pm
Last modified: 12 August, 2020, 10:11 pm

Related News

  • Adani calls off share sale: What is an FPO? How is it different from IPO?
  • Why BSEC held up subscription of Asiatic Laboratories IPO
  • BSEC makes way for Partex Cables to apply for IPO
  • Bank IPOs performed worst, insurance best in 2022
  • Sonali Investment gets back IPO quota facility

Krishibid Feed withdraws IPO due to pandemic havoc

The management of Krishibid Feed is concerned that the pandemic would further disrupt their business

Salah Uddin Mahmud
12 August, 2020, 10:05 pm
Last modified: 12 August, 2020, 10:11 pm
Krishibid Feed withdraws IPO due to pandemic havoc

Krishibid Feed Limited has withdrawn its application of Initial Public Offering (IPO) from the Bangladesh Securities and Exchange Commission (BSEC). 

The company sent a letter to the commission in this regard on August 12, 2020.

The principal activity and the nature of the business of Krishibid Feed is to manufacture, sell and distribute all sorts of poultry feed, fish feed and cattle feed. 

Apart from that, the company can manufacture, distribute, export and import all kinds of agro feed anywhere in Bangladesh and abroad.

The company wanted to raise Tk30 crore from the stock market to expand its business.

Due to the worldwide Covid-19 pandemic, Krishibid Feed's business, like many others, has been affected seriously. Especially its production and supply sides were affected significantly.

The management of Krishibid Feed is concerned that the pandemic would further disrupt their business. So, they decided to withdraw the application for IPO.  

Moreover, an official of the company's issue manager - MTB Capital Ltd told The Business Standard that some officials of the company are infected with Covid-19. So, they are not able to work to meet the requirements for IPO documents during the pandemic. 

Meanwhile, sources at the BSEC said the company submitted the application for IPO to the commission on October 28, 2019. Later, the regulator had asked the company to provide some documents that were missing. The time for submitting those documents was over on August 12, 2020.  

The commission got a withdrawal letter from the company instead of the required documents.

Krishibid Feed wanted to use Tk7 crore for buildings and other civil constructions, Tk4.09 crore for plant and machinery, Tk10 crore for bank loan repayment, Tk2.85 crore for purchasing diesel generators and Tk4.07 crore for delivery vans. 

According to the company's audited financial statement as of June 30, 2019, its net profit was Tk5.41 crore, which was Tk4.58 crore during the same period of the previous year.

Its sales revenue was Tk89.92 crore, which was Tk77.86 crore during the same period of the previous year.

At the same time, its earnings per share was Tk1.97 and net asset value per share was Tk15.06.

Incorporated in November 2010, Krishibid Feed Ltd went into operation on January 1, 2012.

Economy / Top News

Krishibid Feed / IPO

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Photo: TBS
    Dhirasram ICD financiers finalised, construction to begin in 2024
  • Photo: Rajib Dhar
    Girls fare better in this year's HSC exams; over 9% drop in pass rate
  • A woman stands near a collapsed building after an earthquake in Kahramanmaras, Turkey February 6, 2023. REUTERS/Cagla Gurdogan
    Bangladesh announces state mourning for Turkey, Syria earthquake

MOST VIEWED

  • File photo
    Stocks continue inching up
  • GPH Ispat incurs loss due to energy and dollar crisis
    GPH Ispat incurs loss due to energy and dollar crisis
  • Pragati Life shares in free fall
    Pragati Life shares in free fall
  • Biscuit-maker Bangas thrives amid inflation
    Biscuit-maker Bangas thrives amid inflation
  • BSEC smells revenue manipulation at Pacific Denims
    BSEC smells revenue manipulation at Pacific Denims
  • Photo: Mumit M
    DSEX recovers marginally amid volatile trade

Related News

  • Adani calls off share sale: What is an FPO? How is it different from IPO?
  • Why BSEC held up subscription of Asiatic Laboratories IPO
  • BSEC makes way for Partex Cables to apply for IPO
  • Bank IPOs performed worst, insurance best in 2022
  • Sonali Investment gets back IPO quota facility

Features

Illustration: TBS

Planning to study abroad? Explore these four underrated scholarships

7h | Pursuit
Representational image. Photo: Collected.

The understated perks of journaling

6h | Pursuit
Photo: Reuters

A tragedy that will also shake up the region's geopolitics

20h | Panorama
Nimah designed by Compass Architects- Wooden tiles. Photo: Junaid Hasan Pranto

Trendy flooring designs to upgrade any space

1d | Habitat

More Videos from TBS

Unknown facts about Sid-Kiara wedding

Unknown facts about Sid-Kiara wedding

51m | TBS Entertainment
Rescuers dig through rubble as death toll passes 9,000

Rescuers dig through rubble as death toll passes 9,000

51m | TBS World
30% companies see double-digit growth even in hard times

30% companies see double-digit growth even in hard times

22h | TBS Insight
Challenging time waiting for RMG

Challenging time waiting for RMG

1d | TBS Round Table

Most Read

1
Photo: Courtesy
Panorama

From 'Made in Bangladesh' to 'Designed in Bangladesh'

2
Master plan for futuristic Chattogram city in the making
Districts

Master plan for futuristic Chattogram city in the making

3
Photo: Collected
Crime

Prime Distribution MD Mamun arrested in fraud case

4
Leepu realised his love for cars from a young age and for the last 40 years, he has transformed, designed and customised hundreds of cars. Photo: Collected
Panorama

'I am not crazy about cars anymore': Nizamuddin Awlia Leepu

5
Photo: Collected
Startups

ShopUp secures $30m debt financing to boost expansion, supply chain

6
ICB to withdraw Padma Bank investment as return eludes
Banking

ICB to withdraw Padma Bank investment as return eludes

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]