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Baraka Patenga Power Limited Share Allotment Result & Information 2021

Baraka Patenga Power Limited Share Allotment Result 2021

Baraka Patenga Power Limited Share Allotment Result 2021 on 05 July 2021. Baraka Patenga Power Limited Share Allotment List & Information 2021. Baraka Patenga Power Limited IPO Subscription 13 June 2021. Baraka Patenga Power Limited is one of the leading power companies in Bangladesh. The main activity of the Company is to set up power plants for the generation and supply of electricity to the national grid of Bangladesh. The Company is going to start its Initial Public Offer (IPO) subscription on 13 June 2021 this year. BO Account holders may apply for primary shares of the company until 17 June 2021. IPO share allotment list will be updated and found here timely.

IPO Lottery Result & Information of Baraka Patenga Power Limited Click Latest

Baraka Patenga Power Limited was incorporated as a private limited company on 7 June 2011 Vide Registration No. C-93385/11 and subsequently converted into a public limited company on 28 April 2014 with Registrar of Joint Stock Companies and Firms (RJSC) in Bangladesh under the Companies Act, 1994. The Company started its commercial operation on 4 May 2014 and the registered office is at Khairun Bhaban (6th Floor), Mirboxtola, Sylhet.

Baraka Patenga Power Limited IPO Information Details

Baraka Patenga Power Limited has got consent from BSEC to get enlisted in the share market of Bangladesh under the book building method. Bangladesh Securities and Exchange Commission (BSEC) has approved the prospectus for the Initial Public Offering (IPO) to raise Tk. 225 crores from the capital market through the Book Building method. Bangladesh Securities and Exchange Commission (BSEC) has approved bidding the initial public offering (IPO) of Baraka Power Limited at their 755th regular commission meeting held on January 05, 2021. Initial Public Offer (IPO) for 73,770,488 ordinary shares, from which 36,885,288 ordinary shares are reserved for Eligible Investors (EIs) at the cut-off price Tk. 32.00 till exhaustion of the quota for EI category and remaining 36,885,200 ordinary shares at a 10% discounted price from the cut-off price i.e. Tk. 29.00 per share for General Public (GP) including NRBs totaling Tk. 2,250,000,000.00.

Baraka Patenga Power Limited is one of the leading generations of power companies in Bangladesh. Barakatullah Electro Dynamics Limited (Currently Baraka Power Limited) Holding Company of BPPL Barakatullah Electro Dynamics Limited (BEDL) is the subscriber to the MoA of Baraka Patenga Power Limited (BPPL). BEDL has changed its name to Baraka Power Limited (BPL) on January 12, 2015. Baraka Power Limited (BPL) was incorporated in Bangladesh on 26 June 2007 as a private limited Company. On 25 September 2008, the Company was converted into a public limited Company under the Companies Act, 1994. The principal activity of this company is to set up power plants for the generation and supply of electricity. Baraka Power Limited took part in the tendering process initiated by Bangladesh Power Development Board (BPDB) and won the bid for implementing, generating & supplying electricity from a 51MW gas-fired power plant at Fenchugonj, Sylhet for a period of 15 years on a BOO basis. The plant was commissioned on 10 October 2009 successfully and started its commercial operation on 24 October 2009 and supplying electricity to the national grid uninterruptedly. The Company was listed on 16 May 2011 with both the Stock Exchanges of Bangladesh and started trading of shares on 19 May 2011. At present, BPL holds 51% equity shares of Baraka Patenga Power Limited.

Financial Information of Baraka Patenga Power Limited

The company’s issue manager’s name is LankaBangla Investments Limited working as the issue manager of Baraka Patenga Power Limited for its IPO process. The company will Use of IPO Proceeds:

  1. Equity Investment in Karnaphuli Power Limited for BDT 726,750,000 (32.30%)
  2. Equity Investment in Baraka Shikalbaha Power Limited for BDT 716,550,000 (31.85%)
  3. Partial Repayment of Long-term Obligations for BDT 748,725,000 (33.28%)
  4. Estimated IPO Expenses for BDT 57,975,000 (2.58%) and Total BDT 2,250,000,000 (100.00%) according to the IPO prospectus.

Baraka Financial Information

As per the company’s audited financial report as of June 30, 2020, the net asset value per share was Tk. 23.00 (consolidated) & Tk. 20.98 (separate) and the earning per share was Tk. 4.37 (consolidated) & Tk. 1.84 (separate).

Confirmation If Your IPO Application is Deposited or Not? Check the Consolidated Application List Click Here

You can check your IPO Application (Baraka Patenga Power Limited which Subscription Open June 13, 2021, and Close date June 17, 2021) is CORRECTLY deposited or not. Check by the link below:

CHECK CONSOLIDATED APPLICATION LIST

No Lottery IPO begins with Pro-Rata Basis Share Allotment System Click Details

No lottery IPO system begins with Baraka Patenga Power Limited. The distribution of a company’s initial public offering shares on a pro-rata basis instead of the lottery will commence with the Sonali Life Insurance Company Limited’s IPO share subscription.

On January 20, the Bangladesh Securities and Exchange Commission issued a directive, asking Dhaka and Chittagong stock exchanges to introduce an electronic subscription system for application and allotment of shares to the general investors on a pro-rata basis instead of a lottery with an effect from April 01, 2021.

The IPO share distribution on a pro-rata basis system allows every applicant to get shares. A Pro-rata basis means assigning an amount to one person according to his/her share/portion of the whole.

This would be calculated by dividing the investment of each applicant by the amount of oversubscription and then multiplying the resulting fraction by the total value of floating shares allotted for the retail investors.

The IPO shares will be subscribed by eligible investors, general investors, non-resident Bangladeshis, and mutual funds in accordance with the quotas mentioned in the latest public issue rules.

‘In case of under-subscription under any of sub-categories of eligible investors category or general public category, the unsubscribed portion must be added to other sub-categories of the same category,’ Sonali Life IPO prospectus said. ‘In case of oversubscription in the general public category, the securities shall be allotted on pro-rata basis, any fraction shall be considered to the nearest integer, and accumulated fractional securities shall be allotted on a random basis,’ it said.

The regulator also decided that general investors must have at least Tk. 20,000 in investment in the stock market to be eligible for participating in any IPO from April 01, 2021. The minimum value of each application by a general investor for an IPO subscription must also be Tk. 10,000.

As per the BSEC’s decision, institutional investors with a minimum of Tk. 1 crore investments in stocks can subscribe to the shares of the company through the electronic subscription system.

Besides, institutional investors of recognized pension funds and provident funds with a minimum of Tk. 50 lac investment in stocks will also be able to subscribe to the shares in the same way.

Baraka Patenga Power Pro-Rata Basis Share Allotment List 2021

Download Baraka Patenga Power Limited IPO Pro-rata basis allotment instead of lottery from here. After the ending of application of the Initial Public Offer (IPO) from June 13, 2021, to 17 June 2021, Baraka Patenga Power Limited IPO share allotment on 05 July 2021. Place: IPO share allotment of Baraka Patenga Power Limited performed on 05 July 2021. The IPO Share allotment was also published on the websites of the Dhaka Stock Exchange (DSE), Chittagong Stock Exchange (CSE), and the company’s website after the end of the program. See the share allotment list below.

Click the following Link to get Baraka Patenga Power IPO Share Allotment

  1. General Public/Resident Bangladeshi
  2. Non-Residence Bangladeshi(NRB)
  3. Affected Small Investor
  4. Baraka Patenga Power All Eligible Investor Share Allotment List (Pro-Rata Allotment)

Baraka Patenga Share Allotment Information

You can also download the Baraka Patenga Power Limited IPO Share Allotment from Dhaka Stock Exchange (DSE) original website http://www.dsebd.org/ipo_lottery_result.php

You can also get the result from the official website of Baraka Patenga Power Limited IPO Share Allotment i.e. www.bpplbd.com

Prospectus of Baraka Patenga Power Limited

The below prospectus has been described as the overall information of the company. Sector: Power

Baraka Power Executive-Summary

Baraka Patenga Power Limited
(Subscription Open: June 13, 2021, Close: June 17, 2021)

Nature of Business: The principal activity of the Company is to set up power plants for the generation and supply of electricity.

Security Trading Code: BPPL

Date of Road Show: March 18, 2018

Bidding Period for EI: Feb 22, 2021, to Feb 25, 2021

BSEC’s Consent for IPO: May 04, 2021.

Issue Date of Prospectus: May 11, 2021

Listing Application Date: May 16, 2021

Subscription Open: June 13, 2021

Subscription Close (Cut-off Date): June 17, 2021

Authorized Capital: BDT 3,000,000,000

Pre-IPO paid-up Capital: BDT 992,250,000

IPO size in shares: 73,770,488

IPO size in BDT at face value: BDT 737,704,880

IPO size in BDT at offer price: BDT 2,250,000,000

Post IPO Paid-up Capital: BDT 1,729,954,880

Premium: BDT 1,512,295,120

Face Value per share: BDT 10.00

Cut-Off Price per share: BDT 32.00

Offer Price per share for GP: BDT 29.00

Market Lot (Shares):

NAV per share (consolidated): BDT 23.00 as of June 30, 2020.

NAV per share (separate): BDT 20.98 as of June 30, 2020

Registrar to the Issue: UniCap Investments Limited

Issue Manager: LankaBangla Investments Limited

Auditor: Kazi Zahir Khan & Co. (Chartered Accountants)

Website: www.bpplbd.com

Click below to Download Prospectus of Baraka Power Limited

Eligibility for Participating IPO from April 01, 2021 Details Here

Eligibility for Participating in an IPO from April 01, 2021 Details below:

General investors must have at least Tk. 20,000 in investment in the stock market to be eligible for participating in any IPO Share and the minimum value of each application by a general investor for IPO subscription must also be Tk. 10,000.

Institutional investors with a minimum of Tk. 1 crore investments in stocks can subscribe to the shares of the company through the electronic subscription system.

Institutional investors of recognized pension funds and provident funds with a minimum of Tk. 50 lac investment in stocks will also be able to subscribe to the shares in the same way.

Lot Distribution of Baraka Patenga Power Limited Click Here

Share Distribution of Baraka Patenga Power Limited.

As per Rule 4 (2)(C)(x),(xi), and Rule 6 of the Bangladesh Securities and Exchange Commission (Public Issue) Rules, 2015 the shares of BPPL will be allocated in the following manner:

EI including Mutual Funds and CIS=50% Share

GP excluding NRB=40% Share

NRB=10% Share

Total=100% share.

Brief Description of the Company (Baraka Patenga Power Limited)

Baraka Patenga Power Limited (BPPL) was incorporated as a Private Limited Company on June 07, 2011, of which 51% equity investment holds by Baraka Power Limited and converted as Public Limited Company on April 28, 2014. The main activity of the Company is to set up power plants for the generation and supply of electricity to the national grid of Bangladesh. The Company has two subsidiaries namely Karnaphuli Power Limited (KPL) and Baraka Shikalbaha Power Limited. (BSPL). BPPL holds 51% shares of both companies. The principal activity of these companies is to set up power plants for the generation and supply of electricity.

A short profile about the Company is presented below:

  • BSEC announced the IPO approval news of Baraka Patenga Power Limited through a press release on 05 January 2021
  • Received consent letter from BSEC to commence electronic bidding by the eligible investors to determine the cut-off price of ordinary shares of Baraka Patenga Power Limited on 11 January 2021
  • Got approval from Bangladesh Securities and Exchange Commission for IPO Electronic Bidding by EIIs on 31 December 2020
  • Successful completion of syndicated term loan arrangement with oversubscription by IDCOL for Karnaphuli Power Limited amounting to USD 40 million and BDT 3310 million against USD 35 million and BDT 2240 million respectively on 23 January 2019
  • Baraka Shikalbaha Power Limited successfully started the Commercial Operation of its 105 MW Power Plant on 24 May 2019
  • Karnaphuli Power Limited successfully started Commercial Operation of its 110 MW Power Plant on 20 August 2018
  • Formal Inauguration of 110 MW Karnaphuli Power Plant and 105 MW Baraka Shikalbaha Power Plant by the Honorable Prime Minister, Sheikh Hasina on 13 November 2019
  • Karnaphuli Power Limited (a subsidiary of BPPL) signed PPA with BPDB and IA with the Government of Bangladesh on 04 February 2018
  • Received LOI from BPDB for implementing a 105 MW IPP Power Plant under Baraka Shikalbaha Power Limited (a subsidiary of BPPL) on 01 March 2018
  • Fund Raising arrangement with UCBL for raising of BDT 2,639.80 million and USD 31.69 million for Baraka Shikalbaha Power Limited on 01 March 2018
  • The signing of Engine Purchase Agreement with Wartsila Finland OY to purchase 06 nos. of Gen-Sets for Baraka Shikalbaha 105MW Power Plant on 14 March 2018
  • Baraka Shikalbaha Power Limited (a subsidiary of BPPL) signed PPA with BPDB and IA with the Government of Bangladesh on 19 August 2018
  • Received LOI from BPDB for implementing 110 MW IPP power plant namely Karnaphuli Power Ltd. (a subsidiary of BPPL) on 08 August 2017
  • Signed Engine Purchase Agreement with Wartsila Finland OY to purchase 06 nos. of Gen-Sets for Karnaphuli 110 MW Power Plant on 18 September 2017
  • Fund Raising Agreement with IDCOL for raising of BDT 2,800 million And USD 35 million For Karnaphuli Power Ltd. On 18 October 2017
  • Signed Strategic Partnership Agreements with UCEP on 20 October 2016
  • Exhaust Gas Secondary Power Plant started Commercial Operation on 10 April 2015
  • Signed Term Loan Facility of USD 21,975 million funded by IDA of World Bank on 21 January 2014
  • Converted into Public Limited Company on 28 April 2014
  • Commercial Operation Started on 04 May 2014
  • Flue Gas Desulfurization (FGD) plant started commercial operation on 07 September 2014
  • Signed Syndicated Term Loan Facility of BDT 2,205 million on 20 March 2013
  • Signed Flue Gas Desulfurization (FGD) equipment Purchase Contract on 01 November 2013
  • Substation equipment purchase contract with Siemens Bangladesh Limited on 24 January 2012
  • Exhaust Gas Secondary Power Plant purchase contract with Greens Power Limited on 24 February 2012
  • Incorporated as Private Limited Company on 07 June 2011
  • PPA & IA signed with BPDB & MPEMR on 31 July 2011
  • Gen Set purchase agreement signed with Rolls Royce AS, the UK on 31 July 2011

Registered Corporate and other Office of Baraka Patenga Power Limited

Baraka Patenga Power Limited

Corporate, Registered & other Office

Corporate Office:

Corporate Office: 6/A/1 (2nd Floor)
Segunbagicha, Dhaka-1000.

Tel: +88 02 956 03 39, 957 23 05
Fax: +88 02 955 90 15
e-mail: info@bpplbd.com;
Website: www.bpplbd.com

Registered Office:

Khairun Bhaban (6th Floor), Mirboxtola, Sylhet

Other Office (Plant):

No. 16 Chinese Ghat, Airport Road, South Patenga, Patenga, Chittagong

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IPO Latest Update Information 2021

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