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Intraco Refueling Station Ltd. Company Information & IPO Result

UPDATE: Intraco sent shares to investors BO account and 17 May 2018 will start trading in DSE and CSE.

LOTTERY RESULT: PUBLISHED

Stock Broker / Merchant Bank Code

General Public

Affected Investors

Non-Residence Bangladeshi (NRB)

Eligible Investors

UPDATE: As per final prospectus, Intraco Refueling Station Ltd. subscription start from 18 March’18 to 28 March’18 (Including NRB).

The Bangladesh Securities Exchange Commission (BSEC) approved IPO Intraco Refueling Station Ltd. on Tuesday, 16 January 2018 at their 624 nos Board Meeting. Presided by BSEC Chairman Prof. Dr. M Khairul Hossain to issue 3.00 crore ordinary shares worth Tk 10 each. Company Information, IPO Application Form, Prospectus & Result is given below:

Intraco Refueling Station

COMPANY INFORMATION:

Company Name: Intraco Refueling Station Ltd. (IRSL)
Incorporation: The company was incorporated on 27 March 2007 as a private limited Company and was subsequently converted into a public limited company on 28 June 2015.
Commercial Operation: IRSL was started commercial operation on 16 June 2016.
Authorized Capital: Tk. 1,000,000,000 divided into 100,000,000 ordinary shares of Tk. 10.00 each
Paid Up Capital (Before IPO): Tk. 450,000,000 divided into 45,000,000 ordinary shares of Tk. 10.00 each
Paid Up Capital (After IPO): Tk. 300,000,000 divided into 30,000,000 ordinary shares of Tk. 10.00 each

Management Body: 1) Mr. H.M. Hakim Ali, Chairman
2) Mr. Mohammed Riyadh Ali, Managing Director & Director
3) Mr. Shaiful Alam Chowdhury, Director
4) Mrs. Hoda Ali Selim Ahmed Mohamed, Director
5) Mr. S.M. Monir Ahmed, Independent Director

NATURE OF BUSINESS:

The principal services are selling gas through CNG refueling stations. IRSL is selling Compressed Natural Gas (CNG) from its CNG refueling stations. As per nature of the business, Intraco Refueling Station Ltd. is procuring Natural Gas from different Gas Distribution Company i.e. Titas Gas Transmission & Distribution Company Ltd., Bakhrabad Gas Systems Ltd. Natural Gas is the main raw materials which the company has compressed the Natural Gas by used latest technology and sells to the retail customer.

FUTURE PROSPECTS:

Intraco Refueling Station Ltd. is trying to engage in LPG (Liquefied Petroleum Gas) business in Bangladesh. Bangladesh is almost a handful of countries in the world that provide natural gas connections to its residential areas. In the midst of this situation, we are running out of our natural gas reserves. If no gas field discovered, it is estimated that our reserves would be exhausted within the next decade. The government has learned to understand this reality, thus promoting the use of LPG as an alternative to natural gas for residential users.

Intraco Refueling Station

NAME OF SUBSIDIARIES:

Intraco Refueling Station Ltd. has five subsidiaries they are:
a) Good CNG Refueling Station Ltd.
b) M Hye & Co CNG Refueling Station Ltd.
c) Nessa & Sons Ltd.
d) Absar & Elias Enterprise Ltd.
e) East End Automobiles Ltd.

ADDRESS:

Corporate Office:
INTRACO CENTRE, House # 40, Block-J, Pragati Sarani, Baridhara,
Dhaka- 1212.
Phone: +880-2-9881887, 8833854, 9857225, 9857243, 9857242
Fax: 88-02-9849851
Email: info@intracorefueling.com

MAJOR FINANCIAL INFORMATION AS FOLLOWS:

Figure in Tk.’000

Particulars 30-06-17
30-06-16 (Restated)

31-03-15
(Restated)

31-03-14
(Restated)
Revenue 993,352 1,125,346 745,168 637,634
Gross Profit 150,490 164,181 104,474 92,420
Net Profit before tax 98,227 108,153 65,041 61,835
Net Profit after tax 61,289 67,544 38,946 37,931
Total Assets 942,776 861,493 527,996 478,080
Share Capital 450,000 450,000 300 300
Retained Earnings 174,233 112,944 58,556 19,609
No. of Shares 45000 45000 30 3
Face Value 10.00 10.00 10.00 100.00
NAV per Shares 13.87 12.51 1961.87 66.37
Earnings per Share 1.36 1.50 1.18 1.15

INTRACO REFUELING STATION LTD. EPS & NAV:

As per the financial statement for the year ended on June 30, 2017, the company’s net asset value (NAV) stood at Tk 10.49 per share (without valuation), whereas the weighted average of EPS was Tk 0.67.
The company has 95 per cent shareholding in five subsidiaries. The consolidated NAV of the company and five subsidiaries was Tk 13.87 (without valuation) and the weighted average of EPS stood at Tk 1.43 as of June 30, 2017.

Intraco Refueling Station

ISSUE MANAGER:

AFC Capital Ltd. and Asian Tiger Capital Partners Investment Ltd. are jointly working as the manager to the issue.

WHY PUBLIC OFFERING:

Bangladesh Securities Exchange Commission (BSEC) approved IPO of above Co. on 16 January 2018. The companies will raise a fund worth Tk. 300.00 million. Net proceeds from Initial Public Offering (IPO) will be used for 4X50 MT (4X100,000 LTR) LPG satellite plant with filling hall equipment, Cylinder (12.5kgs), Road Tanker, Mover, Weighting Bridge, Truck (Nitol Tata), Truck Fabrication, Diesel Generator (250KVA), Sub-station (400KVA), Construction(Factory Shed, Store Room & Office Building), Freight and Clearing charge, Electrical Work (main/sub/motor panes, DB, Controls etc.) and for IPO expenses.

NOS. OF SHARE OFFER: 3,00,00,000
VALUE OF IPO: Tk. 300,000,000/=
FACE VALUE: Tk. 10/=
PREMIUM VALUE: Nil
MARKET LOT: 500
MINIMUM LOT VALUE:
Tk.5000/=
SHARE ALLOTMENT: 32% for General Public=19,200 lot and 8% for Affected Investors=4,800 lot, 40% for Eligible Investor (EI) =24,000 lot, 10% for NRB = 6,000 lot and 10% for Mutual Fund =6,000 lot.

** The Company will collect IPO money through BSEC new rules and the new rule is “BROKER HOUSE SHOULD COLLECT IPO MONEY ONLY”.

SUBSCRIPTION DATE:

The Company’s Subscription date start from 18 March’18 to 27 March’18 .

DOWNLOAD IPO FORM HERE:

Res./EI./NRB Application Form

Intraco Refueling Station Ltd.: PROSPECTUS
Intraco Refueling Station Ltd.: TT Clean Rate on 18-02-18

 

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