aamra networks will utilise the unutilised IPO (initial public offering) fund for infrastructure development subject to approval from shareholders.
The company has said in a disclosure that it's board has taken the decision of utilising the unutilised fund for infrastructure development.
It will take the shareholders' approval on utilisation of unutilised IPO fund at the AGM (annual general meeting) to be held on December 24, 2018.
As per the board's decision, the untilised IPO fund worth above Tk 3.95 million will be utilised for BMRE for infrastructure development.
aara networks also said above Tk 1.51 million has been saved in the head of BMRE for infrastructure development, data center set up and wi-fi hotspot setup due to lower purchase price and above Tk 2.44 million did not deposit to DESCO due to arrangement of different power source for data center setup.
