Corporate News Details
On Wednesday, Marico Ltd disclosed that one of its wholly-owned subsidiary Marico Bangladesh Ltd (MBL), is planning to raise 135 million taka (around Rs 9.5 crore) through an Initial Public Offering in Bangladesh.
MBL, has received an approval from the Bangladesh Securities and Exchange Commission (SEC) for making an IPO in the country, Marico said.
MBL would issue 14,92,100 shares at 90 taka per share, consequently will raise 135 million Taka, the filing added.
"It will be for the first time that an overseas subsidiary of Marico will be going public. It will also be for the first time that Bangladeshi subsidiary of an Indian company will have an IPO in Bangladesh," Marico Human Resource and Strategy Milind Sarwate said.
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