IPO bidding of Index Agro begins Nov 1

Business Desk :
The bidding for eligible investors (EIs) to explore the cut-off price of shares of Index Agro Industries Ltd will commence at 5:00pm from November 1.
The company’s price bidding through electronic subscription system (ESS) of the exchanges will be continued until 5:00pm on November 4 (round the clock), according to a disclosure posted on the Dhaka Stock Exchange website on Monday.
The valuation report submission period for eligible investors through electronic subscription system will start at 10:30am on November 5 and continue until 10:30am on November 9. Only the eligible investors can participate to explore the cut-off price of the company’s shares under the electronic bidding process.
Each eligible investor who intends to participate in the electronic bidding for the company’s shares shall maintain a minimum investment of Tk 10 million in listed securities as on the end of October 21 as per the Bangladesh Securities and Exchange Commission (Public Issue) Rules, 2015.
The minimum tick size (minimum bidding value) for bidding shall be Tk 4.50 million which is accordance with the BSEC consent letter to Index Agro Industries dated on October 15.
The Central Depository Bangladesh Limited (CDBL) shall send a report to the exchange regarding holding of EIs in listed securities and the exchange shall ensure compliance in this regard.
The stock market regulator allowed Index Agro Industries to explore its cut-off price on September 10 – a requirement for going public under the book building method.