Baraka Patenga Power will make its debut on both stock exchanges in "N" category today (Thursday).
The company will raise Tk225 crore from the stock market through an initial public offering (IPO) under the book building method.
It posted a 20% increase in net profit in the January-March period of the fiscal year 2020-21.
According to its financial statements, in the third quarter of FY21, its net profit stood at Tk16.31 crore and earnings per share (EPS) at Tk1.64, which were Tk13.52 crore and Tk1.36 respectively in the same period of the previous fiscal year.
Also, in the first nine months of that fiscal year, its net profit stood at Tk50.15 crore and EPS at Tk5.05, which were Tk47.01 crore and Tk4.74 respectively in the same period of the previous year.
On 5 January this year, Baraka Patenga received approval from the stock market regulator to explore the price of its primary shares.
The cut-off price of the company's shares stood at Tk32 each and general investors got the shares at a 10% discount.
It will utilise Tk144.34 crore from its IPO proceeds to invest in two of its power generation subsidiaries – Karnaphuli Power and Baraka Shikalbaha Power.
The remaining funds will be used to repay loans and bear IPO expenses, the Bangladesh Securities and Exchange Commission said in a statement.