Navana Pharma IPO subscription opens on 13 September
The primary subscription of the initial public offering (IPO) of Navana Pharmaceuticals Ltd will open on 13 September and continue till 19 September.
The cut-off price of the company's shares was fixed at Tk34 each through an electronic subscription system last month.
The drugmaker had earlier secured regulatory approval to raise Tk75 crore from the capital market under the book-building method to expand its business.
Incorporated in Bangladesh in 1986, the company operates in two categories of pharmaceuticals: veterinary and human health.
The veterinary division manufactures and markets more than 123 high-quality medicines and feed supplements that include poultry, dairy, and aqua products.
The human health division produces more than 277 drugs such as tablets, capsules, oral liquids, ampoules, dry powder vials, powders for suspension, eye drops, creams and ointments, and more.
According to its audited 2020-21 financial report, the company's net profit stood at Tk17.98 crore, which was Tk13.13 crore in the previous fiscal year.
Its revenue was Tk360.66 crore, which was Tk314.90 crore a year ago.
For FY21, its earnings per share stood at Tk2.24 and the net asset value per share was at Tk40.9.
Asian Tiger Capital Partners Investment Ltd and EBL Investments Ltd are the issue managers for Navana Pharma's IPO.
