IIDFC will go public for expansion of its businesses.
"The company likes to raise Tk 400 million from the stock market and will apply to the BSEC for the final approval," said a company source.
The leading non-banking financial institution has already inked a deal with AAA Finance & Investment Ltd in this regard.
As the issue manager, AAA Finance will assess the primary capacity of the IIDFC to raise fund from the general public and finally as the regulator, the BSEC will approve the IPO.
Managing Director of IIDFC Golam Sarwar Bhuiyan, his counter part from AAA Finance Obayedur Rahman and chairman Khwaja Arif Ahmed were present on the occasion, according to sources in both IIDFC and AAA Finance.
-rmc//