Appollo Ispat Ipo result, form and news | www.appollo ispat.com. At least Appollo Ispat is granted for IPO. Bangladesh Securities and Exchange Commission (BSEC) withdrew a suspension order on Appollo Ispat IPO subscription on 22nd August. Appollo Ispat IPO Subscription will be started from 6th October, 2013.

Appollo Ispat Complex Limited is one of the subsidiaries of Appollo Group. It engaged in producing corrugated and galvanized sheet and selling nationally and internationally. Appollo Ispat Complex Limited was founded in 1995.

According to the Appollo Ispat IPO prospectus, Appollo Ispat will use around Tk 220 crore from the IPO proceeds to repay bank loans, Tk 60 crore for project expansion and the rest to bear the IPO expenses.

The company will install an environment friendly German technology-based non-oxidizing furnace unit for manufacturing lead-free corrugated iron sheet. The new project is expected to come into commercial production in mid-2014.

Appollo Ispat Ipo Offering  price Tk. 22.0 , Face value per share Tk. 10.0 , Market lot = 200 units and Single lot price = Tk. 4400.00.

Public offer of 100,000,000 Ordinary Shares of TK.10/- Per share at an issue price of TK.22/- each, including a premium of  TK.12/- Per share totaling to TK. 2,200,000,000/-

Appollo Ispat Complex Limited ipo Subscription open date fixed on 06 Oct 2013 and Subscription close will be on 10 Oct 2013, besides for NRB    Subscription close will be 06 Oct 2013 to 19 Oct 2013.