Home / Knowledge / News / Textiles / Tosrifa Industries IPO at a premium of Taka 16 opens
Tosrifa Industries IPO at a premium of Taka 16 opens
24
Mar '15
Tosrifa Industries in Bangladesh is raising Taka 61.88 crore through an initial public offering (IPO) to set up an eco-friendly dyeing unit and also become self-sufficient in fabric dyeing.

“Tosrifa, a flagship of Northern Tosrifa Group has floated 2.46 crore ordinary shares worth Taka 10 each for Taka 26, with Taka 16 as premium,” a company prospectus informed.

The IPO subscription managed by IDLC Investments begins on March 24 and will end on March 31 for the public and April 9 for non-resident Bangladeshis.

Tosrifa also intends to expand its garment manufacturing capacity by adding an additional 500 sewing machines.

The total cost of the projects is projected at Taka 163.2 crore, of which Taka 152 crore will be used to set up the dyeing plant with a daily capacity of 15 tons of fabric.

Of the Taka 163.2 crore, Tosrifa has already raised Taka 6 crore through a pre-IPO placement and Taka 95.32 crore will be sourced from debt financing or retained earnings and the rest through the IPO.

The dyeing unit will be equipped with energy-efficient machinery, which will help the Company reduce its carbon footprints.

According to a top company official, Tosrifa will also use a cold pad batch dyeing technology which will consume 45 per cent less power and also less water than conventional dyeing systems.

“The purpose behind setting up dyeing unit is to reduce dependence on subcontracting the dyeing process which will result in reduction lead times and lower expenses,” the official said.

Tosrifa employs around 1,350 workers and supplies garments to global clothing brands like such Gina Tricot, MQ Retail, Delta-Sport Handelskontor, El Corte Ingles, ZXY International, etc.

The company's earnings per share as of December 2013 stood at Taka 2.49 with a net asset value of Taka 34.41.

Currently, 39 textile companies are listed on Dhaka Stock Exchange (DSE) which together account for around 5.0 per cent of the total market capitalisation of the bourse. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Indian govt approves special package for leather, footwear

Textiles | On 16th Dec 2017

Indian govt approves special package for leather, footwear

The Union Cabinet chaired by PM Narendra Modi has approved a special...

EU parliament resolution calls for Cambodia sanctions

Apparel/Garments | On 16th Dec 2017

EU parliament resolution calls for Cambodia sanctions

Following the ongoing crackdown in Cambodia on the opposition and...

Affordable prices to be hit if US pulls out of NAFTA: NRF

Apparel/Garments | On 16th Dec 2017

Affordable prices to be hit if US pulls out of NAFTA: NRF

US retailers’ ability to offer consumers quality products at...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search