Krishibid Feed gets nod to raise fund from stock market

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Krishibid Feed, a small and medium enterprise, today got nod to raise fund of Tk 22 crore from the stock market.

To ensure finance for SME sector form the stock market, the company’s application was approved, Bangladesh Securities and Exchange Commission said in a press release.

As the company is an SME so its trading would raise fund from qualitative investors and secondary trade would be in the SME platform.

The company would offload 2.20 lakh shares at a face value of Tk 10.

With the qualified investor offer (QIO) proceeds, the company would build a factory building, repay bank loans, and buy machineries, diesel generator and delivery van.