Bidding for Baraka Patenga IPO begins Monday | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Thursday
June 12, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
THURSDAY, JUNE 12, 2025
Bidding for Baraka Patenga IPO begins Monday

Stocks

TBS Report
20 February, 2021, 11:40 pm
Last modified: 20 February, 2021, 11:46 pm

Related News

  • Task force revises up IPO quota for general investors to 60%
  • BSEC calls for wider tax gap to revive dormant IPO market
  • Reform Task Force proposes allowing issue managers to participate in IPOs
  • BSEC to revise IPO rules, ending private share offerings for issuer employees
  • Regulator charts new course to revive IPO market amid capital crunch

Bidding for Baraka Patenga IPO begins Monday

Both 7th and 11th February are treated as requisite investment dates for eligible bidders

TBS Report
20 February, 2021, 11:40 pm
Last modified: 20 February, 2021, 11:46 pm
Bidding for Baraka Patenga IPO begins Monday

The bidding to determine the price of Baraka Patenga Power Ltd primary shares is going to begin on Monday.

According to rules for initial public offering (IPO) under book building method, eligible institutional investors (EIIs) would bid for the company shares quoting price and quantity of shares.

The cut-off price, at which half of the IPO shares are sold, would be the reference price for general public who would subscribe for the remaining half of the IPO shares at 10% discount.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

EIIs now need to have at least Tk1 crore in secondary market investments to qualify for book building bidding, which is half for provident and gratuity funds.

As Baraka Patenga's bidding deferred for a week, the date to record EIIs secondary market investment balance also has been deferred to February 11, which was February 7 initially.

However, to make things easier for investors, the securities regulator said the qualifying investment balance at any of the two days, technically called requisite investment dates, would do.

Currently, there are more than 500 active registered EIIs in Bangladesh stock market.

The 72 hour bidding will begin at 5.00 pm on Monday and end at 5.00 pm on Thursday.

On 5 January, Baraka Patenga received approval from the Bangladesh Securities and Exchange Commission (BSEC) to explore the price of its primary shares in order to raise Tk225 crore from the market.

The company will utilise part of its IPO proceeds of Tk144.34 crore to invest in two of its power generation subsidiaries – Karnaphuli Power Ltd and Baraka Shikalbaha Power Ltd. 

The remaining funds will be used to repay loans and bear expenses of the IPO process, the BSEC said in a statement.

LankaBangla Investments Ltd, a leading local merchant bank, is the issue manager of the Baraka Patenga IPO.

During approval, the BSEC instructed that the company cannot further increase its paid-up capital by issuing bonus shares within the next five years.

Also, the company will have to hold at least 51% shares of its two subsidiaries.

At the end of fiscal 2019-2020, Baraka Patenga's net asset value (NAV) per share stood at Tk23 without asset revaluation surplus added. The company's NAV per share was Tk20.98, excluding that of its subsidiaries.  

In the last fiscal year, the company's consolidated earnings per share (EPS) stood at Tk4.37, which was Tk1.84 on a solo basis.

The five-year weighted average of the company's consolidated EPS was Tk3.30, which was Tk2.82, if profits of subsidiaries were excluded.

Baraka Group, primarily a venture of non-resident Bangladeshis, began its journey in the mid-2000s to develop a modern residential area in Sylhet.

The group went into the power generation business more than a decade ago and its first power venture – Sylhet Barakatullah Electrodynamics, now Baraka Power Ltd – is listed on both bourses.

The group also expanded its business into apparel exports, and collaborated with globally renowned technical partners and financiers – such as the World Bank Group's International Finance Corporation – which helped the group grow further in power generation sector.

Baraka Patenga Power owns a 50MW power plant – located in Patenga, Chattogram – which started its commercial run in May 2014. Baraka Power owns 51% shares of Baraka Patenga.

Baraka Patenga is now working to strengthen its subsidiaries, both of which are already in operation but still awaiting improvement of their equity structures in order to avail necessary loans.

Baraka Shikalbaha, a 105MW heavy fuel oil-based power plant, came into production in May 2019, while Karnaphuli Power, a 110 MW plant, started generating power in August. 

Economy / Top News

Baraka Patenga Power / 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

  • Saifuzzaman Chowdhury. Photo: Collected
    UK crime agency now freezes assets of ex-land minister Saifuzzaman: AJ
  • Chief Adviser Muhammad Yunus speaks at the Chatham House in London on 11 June 2025. Photo: CA Press Wing
    No desire to be part of next elected govt: CA Yunus
  • File photo of BNP Standing Committee Member Amir Khasru Mahmud Chowdhury. Photo: Collected
    Khasru flies to London ahead of Yunus-Tarique meeting

MOST VIEWED

  • Illustration: Duniya Jahan/ TBS
    Forget Katy Perry, here’s Bangladesh’s Ruthba Yasmin shooting for the moon
  • A file photo of Bangladesh Bank Governor Dr Ahsan H Mansur. Photo: Collected
    'I have no relation with this': Ahsan Mansur debunks Joy’s allegations over daughter’s Dubai flat
  • Faiz Ahmad Tayeb. Photo: BSS
    Import duty on raw materials for e-bikes, lithium batteries reduced from 80% to 1% in some cases: Faiz Taiyeb
  • File photo of ex-prime minister Sheikh Hasina and her son Sajeeb Wazed Joy. Photo: Collected
    Joy spends Eid with Hasina in India: Indian media
  • Mercantile Bank withholds dividend amid Tk1,700cr provision shortfall
    Mercantile Bank withholds dividend amid Tk1,700cr provision shortfall
  • Shakil Ahmed. Photo: Collected
    DU student allegedly hangs himself following threats over old derogatory comment about Prophet on Facebook

Related News

  • Task force revises up IPO quota for general investors to 60%
  • BSEC calls for wider tax gap to revive dormant IPO market
  • Reform Task Force proposes allowing issue managers to participate in IPOs
  • BSEC to revise IPO rules, ending private share offerings for issuer employees
  • Regulator charts new course to revive IPO market amid capital crunch

Features

Among pet birds in the country, lovebirds are the most common, and they are also the most numerous in the haat. Photo: Junayet Rashel

Where feathers meet fortune: How a small pigeon stall became Dhaka’s premiere bird market

8h | Panorama
Illustration: Duniya Jahan/ TBS

Forget Katy Perry, here’s Bangladesh’s Ruthba Yasmin shooting for the moon

1d | Features
File photo of Eid holidaymakers returning to the capital from their country homes/Rajib Dhar

Dhaka: The city we never want to return to, but always do

2d | Features
Photo collage shows political posters in Bagerhat. Photos: Jannatul Naym Pieal

From Sheikh Dynasty to sibling rivalry: Bagerhat signals a turning tide in local politics

4d | Bangladesh

More Videos from TBS

Why is Omicron XBB more contagious?

Why is Omicron XBB more contagious?

5h | TBS Stories
What did Dr. Yunus say at the Chatham House Dialogue in London?

What did Dr. Yunus say at the Chatham House Dialogue in London?

6h | TBS Today
News of The Day, 11 JUNE 2025

News of The Day, 11 JUNE 2025

7h | TBS News of the day
WB predicts worst decade for global growth since 60s

WB predicts worst decade for global growth since 60s

8h | TBS Stories
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
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 - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net