BSRM Ltd. IPO Result Download, IPO Result of BSRM, Bangladesh Steel Re-Rolling Mill Limited IPO Result. IPO Lottery Draw and Result date of Bangladesh Steel Re-Rolling Mill Limited.
BANGLADESH STEEL RE-ROLLING MILLS LIMITED
Initial Public Offering of 17,500,000 Ordinary shares of Tk. 10/- at an issue price of Tk. 35/- each including premium of Tk. 25/- per share totaling of Tk. 612,500,000/-
Initial Public Offering of 17,500,000 Ordinary shares of Tk. 10/- at an issue price of Tk. 35/- each including premium of Tk. 25/- per share totaling of Tk. 612,500,000/-
Subscription
for General Public
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Subscription
for NRB Applications
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Opening Date:
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Closing Date:
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Opening Date:
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Closing Date:
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February 01, 2015
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February 05, 2015
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February 01, 2015
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February 14, 2015
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Credit Rating Status
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Rating Particulars
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Long Term
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Short Term
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Entity Rating
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AA-
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ST-2
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Validity of Rating
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20 May, 2015
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20 November,2014
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Rating Assigned By
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Credit Rating Information and Services Ltd. (CRISL)
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An applicant cannot submit more than two applications, one in his/her
own name and the other jointly with another person. In case an applicant
makes more than two applications, all applications will be treated as
invalid and will not be considered for allotment purpose. In addition,
15% (fifteen) of the application money will be forfeited by the
Commission and the balance amount will be refunded to the applicant.
The applicants who have applied for more than two applications using same bank account, their application will not be considered for lottery and the Commission will forfeit 15% (fifteen) of their subscription money too.
Making of any false statement in the application or supplying of incorrect information therein or suppressing any relevant information in the application shall make the application liable to rejection and subject to forfeiture of 25% of the application money and/or forfeiture of share (unit) before or after issuance of the same by the issuer. The said forfeited application money or share (unit) will be deposited in account of the Bangladesh Securities and Exchange Commission (BSEC). This is in addition to any other penalties as may be provided for by the law.
The applicant shall provide with the same bank account number in the application form as it is in the BO account of the applicant.
Bangladesh Steel Re-Rolling Mills Limited is the first fully automatic re-rolling mills built in the country. It was established in 1952 as a small manually operated rolling mill by four businessmen, Mr. Akberali Alibhai Africawala, Mr. Taherali Africawala, Mr. Abdul Hussain Africawala and Mr. Rajabali Africawala. Later in 1960 it was reconstructed under the Companies Act 1913 as “East Bengal Steel Re-Rolling Mills Limited”. After our liberation the company was renamed as “Bangladesh Steel Re-Rolling Mills Limited”, and become the flagship company of BSRM Group.
In 1984, the old plant was dismantled and commissioned with fully automatic machinery from UK with enhanced annual production capacity of 60,000 MT. In 2004 another BMRE was made and the production capacity increased to 120,000 MT introducing high quality 60-grade re-enforcing steel to facilitate heavy construction in Bangladesh.
In 2011, Bangladesh Steel Re-Rolling Mills Limited amalgamated with “Meghna Engineering Works Limited (MEW)” another concern of BSRM Group engaged in billet making. Since the amalgamation, the two companies carries out its business as a single legal entity and operates as two separate units (Bangladesh Steel Re-Rolling Mills Limited as “Re-rolling mills” and Meghna Engineering Works Limited as “Steel Melting Works”) for administrative purpose only. In the Steel Melting Works unit, MS Billet is produced from scraps and sponge iron and then by rolling this MS billet the Re-rolling Mills unit produces 60 grade and 40 grade MS bars , angles, channels, I-beam, great-beam etc.
ONGOING EXPANSION / BMRE
The BMRE program is going on in the mill to enhance its capacity from 120,000 MT to 450,000 MT per annum to cater the growing demand of quality steel in the country. After BMRE, BSRM will be the largest mill of its kind in the country having capacity of producing large variety of steel products under one facility using the latest technology. The machinery will be bought from renowned suppliers of Italy, Taiwan, China and India. After modernization, BSRM will be able to produce hot rolled bars, Thermo Mechanically Treated (TMT) bars, Angles, Channels, Flats, Shafts and Tees. Commercial Operation of the BMRE is expected on April 2015.
The applicants who have applied for more than two applications using same bank account, their application will not be considered for lottery and the Commission will forfeit 15% (fifteen) of their subscription money too.
Making of any false statement in the application or supplying of incorrect information therein or suppressing any relevant information in the application shall make the application liable to rejection and subject to forfeiture of 25% of the application money and/or forfeiture of share (unit) before or after issuance of the same by the issuer. The said forfeited application money or share (unit) will be deposited in account of the Bangladesh Securities and Exchange Commission (BSEC). This is in addition to any other penalties as may be provided for by the law.
The applicant shall provide with the same bank account number in the application form as it is in the BO account of the applicant.
Bangladesh Steel Re-Rolling Mills Limited is the first fully automatic re-rolling mills built in the country. It was established in 1952 as a small manually operated rolling mill by four businessmen, Mr. Akberali Alibhai Africawala, Mr. Taherali Africawala, Mr. Abdul Hussain Africawala and Mr. Rajabali Africawala. Later in 1960 it was reconstructed under the Companies Act 1913 as “East Bengal Steel Re-Rolling Mills Limited”. After our liberation the company was renamed as “Bangladesh Steel Re-Rolling Mills Limited”, and become the flagship company of BSRM Group.
In 1984, the old plant was dismantled and commissioned with fully automatic machinery from UK with enhanced annual production capacity of 60,000 MT. In 2004 another BMRE was made and the production capacity increased to 120,000 MT introducing high quality 60-grade re-enforcing steel to facilitate heavy construction in Bangladesh.
In 2011, Bangladesh Steel Re-Rolling Mills Limited amalgamated with “Meghna Engineering Works Limited (MEW)” another concern of BSRM Group engaged in billet making. Since the amalgamation, the two companies carries out its business as a single legal entity and operates as two separate units (Bangladesh Steel Re-Rolling Mills Limited as “Re-rolling mills” and Meghna Engineering Works Limited as “Steel Melting Works”) for administrative purpose only. In the Steel Melting Works unit, MS Billet is produced from scraps and sponge iron and then by rolling this MS billet the Re-rolling Mills unit produces 60 grade and 40 grade MS bars , angles, channels, I-beam, great-beam etc.
ONGOING EXPANSION / BMRE
The BMRE program is going on in the mill to enhance its capacity from 120,000 MT to 450,000 MT per annum to cater the growing demand of quality steel in the country. After BMRE, BSRM will be the largest mill of its kind in the country having capacity of producing large variety of steel products under one facility using the latest technology. The machinery will be bought from renowned suppliers of Italy, Taiwan, China and India. After modernization, BSRM will be able to produce hot rolled bars, Thermo Mechanically Treated (TMT) bars, Angles, Channels, Flats, Shafts and Tees. Commercial Operation of the BMRE is expected on April 2015.
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