Islam Oxygen Limited has started its journey for Initial Public Offering (IPO) under the book building method as per Bangladesh Public Issue Rules-2015. The company started the journey with a roadshow in the Grand Ballroom of Radisson Blu Water Garden Hotel in the capital on Monday evening, 25th October 2021.
Managing Director of Islam Oxygen Limited, Nurul Islam was present. Chairman of the company Shahidul Islam, Director, Md. Azharul Islam, Chief Operating Officer, Badr Uddin Al-Hossain, Company Secretary, Md. Akhtaruzzaman, the Independent Directors of the company, and other officials participated in the ceremony.
The representatives of Bangladesh Securities and Exchange Commission, Dhaka Stock Exchange and Chittagong Stock Exchange, Representative of Janata Capital and Invest Ltd., Sonali Investment Ltd., ICB Capital Management Ltd. and Rupali Investment Ltd., physicians of different hospitals, representatives of various bank insurance and financial institutions, along with merchant banks and brokerage houses and shareholders of the company, officers and employees of the company were also present on the occasion.
In order to gain market share and turn it into a reputed oxygen company in Bangladesh, Islam Oxygen Limited is participating in an IPO for taka 93 crore subjects to BSEC approval through book building method.
After spending on the IPO, the company will spend the rest of the money on setting up a new factory building, plants, and machinery.
At the opening ceremony, Managing Director of Islam Oxygen Limited Nurul Islam said, “In the financial year 2020-2021, we have been able to increase our production capacity to 25 million cubic meters per year.”
“With the money raised from the market through IPO, we will set up a liquid gas plant and a new factory building. If the plant is set up, we hope to be able to meet the country’s demand for oxygen and other gases to a large extent.”
“With the setting up of this plant, our current production capacity will be increased from 25 million cubic meters to about 45 million cubic meters.”
“This will make Bangladesh a self-sufficient gas-rich country by reducing the foreign dependence on the country’s gas industry.”
“According to the projected financial statement, in 2025, our project revenue will be Tk 270.27 crore and we hope that production capacity will increase to 4.87 crore pieces per year. We will be able to meet the market demand of Bangladesh and then export to other countries.”
“Now it is the best time to invest in Islam Oxygen Limited and we believe that we will be able to give our shareholders the right returns and start our next milestone in the capital market,”
Islam Oxygen Limited
Islam Oxygen Limited, whose commercial production started in 2013 through the production of industrial oxygen, was started by the joint efforts of 3 brothers in need of this steel mill.
Due to the increase in demand, a second plant was set up and an acetylene plant was set up.
As the industrial demand for gas used as raw material in various industries increased, then they started producing and supplying carbon-di-oxide, argon, nitrogen, hydrogen, helium, Argo, shield, carbon, and various types of industrial mixed gas.
And in this way, a strong position is created in the industrial gas market of Bangladesh. At present, it is producing and supplying compressed medical air, nitrous oxide, medical carbon dioxide, medical nitrogen, and various types of medical mixed gas. Where customers get uninterrupted 24 hours services. ♦
