The IPO (Initial Public Offering) proposal for raising Tk 15 crore submitted by eGeneration has been approved by the BSEC (Bangladesh Securities and Exchange Commission). Based on the proposal, 1.5 crore shares have been issued on the capital market.
The securities regulator has approved the IPO. The meeting for this approval has been held on Wednesday at the office, post which a press release was let out. The face value of each of the shares given to the IT firm is Tk10.
The IT firm submitted the IPO fund to put it to good use, which can be a huge advantage. The fund would be used to purchase floor space for the business. Develop platforms for digital healthcare and repay loans taken by the business.
The fund would be a great help to the company in terms of their business growth, which is why it was necessary for the proposal to have been accepted.
The net profit of the company as of June 30th, 2019, was Tk10.90 crore. The previous year, the net profit was Tk10.49. The gross profit during the same time was Tk15.68 crore and the previous year was Tk14.41 crore.
On the other hand, the earnings per share at the time was Tk1.82. Furthermore, the net asset value for each share was Tk20.56.
eGeneration: On the Path of Growth
eGeneration is an IT firm that deals with software solutions and system integration based in Bangladesh. The main aim of the firm is to change the nation into a high-tech one. The firm has a strong and trained technical team. Several companies are esteemed partners of the IT firm.
The main focus of the company is the betterment of the nation through redefined technological solutions. The IPO has been another way to fulfill their aim for the betterment of their company and the nation.
The company has been in partnership with many global experts to expand their reach. They also focus on digital transformation using several digital platforms with the help of many disruptive technologies.
The IPO was another very important step for the company towards which they have been extremely successful. eGeneration has also been famous for its technology solutions to focus industries such as the education sector, public sector, health sector, banks, NBFIs, and such.
The disruptive technologies used in the transformation process are natural language processing, the internet of things, Blockchain, machine learning, robotic process automation, and artificial intelligence. These are some of the latest technologies that have been one of the growing points of this firm.
eGeneration has a major contribution to the healthcare sector of Bangladesh, which has been done through HMIS, a hospital management information system. The IT software in the different healthcare sectors has been integrated into a single package, which has benefitted many hospitals.
eGeneration: Share Subscription
Based on the decision of the BSEC, the investors can subscribe to using the electronic subscription system. The investment can also be made only by institutional investors. The investors who wish to subscribe to the company share should have a minimum investment of Tk1 crore.
Further information has been given through the press released by the regulator. The press release states that the company’s subscription for the IPO will be determined in 2021 in January. This will be done keeping in mind the interests of the company investors.
To Sum Up
eGeneration was established in November 2003 as a private limited company. In the same year, the company started its commercial operations. From then on, the company has looked only forward and expanded its services all over the nation.