LOTTERY RESULT DOWNLOAD HERE: PUBLISHED
LAST UPDATE: 2ND JUNE, 2016 | 01:00 P.M.
The Bangladesh Securities Exchange Commission (BSEC) approved IPO “Evince Textiles Ltd.” on Monday 04 April 2016 on their 569 nos Board Meeting presided by BSEC Chairman Prof. Dr. M Khairul Hossain to issue 1.70 crore ordinary shares worth Tk 10 each. Company Information, IPO Application Form, Prospectus & Result is given below:
Evince Textiles Ltd. (also called “ETL”) a unit of Evince Group since 1983. Evince Group continues to expand vertically and is regarded as one of the leading and most diversified independent manufacturing conglomerates in the apparel and textile industry of Bangladesh. Group believes that key strength lies in our partnerships with customers, with whom we intend to work together hand in hand with a view to not only ensure the maximum quality from the output, but establishing-term valued relationships in the process. Evince Textiles Ltd. was commissioned in 2003 with a goal to produce world-class premium fabrics in Bangladesh.
PROCESS OF BUSINESS:
Currently, ETL is geared to produce over a million yards of cotton shirting fabrics per month. The ETL product range includes 100% cotton yarn dyed shirting fabrics comprised of a variety of yarn counts: ’30s, ’40s, ’50s, 60’s, 70’s, 80/2’s and 100/2’s with a wide range of dobby designs as well as plain patterns.
DYEING YARN: The current yarn dyeing capacity is around 12,000 kg per day. ETL facility is fully equipped with a complete lab for shade matching and color development. The dyeing vessels are of latest models along with computerized control systems. Vessel capacities range from 5 kg to 400 kg, supported by a 400 kg pressure dryer. The unique combination of small and large drying vessels contributes towards major flexibility while handling a large number of colors and quantities per batch.
WARPING: Swiss made Ben-Tronic, new generation sectional wrappers, based on a unique technology, optimum ergonomics, and high flexibility enables us to process various kinds of yarn-dyed patterns.
SIZING: The new Ben Size Tec sizing machines with additional new automatic control undertakes all functions needed for a warp. Present tolerance limits ensure uniform quality, tension, temperatures and squeezing pressure.
WEAVING: The versatility in weaving is one of our major advantages. Our weaving section contains 160 Italian rapier-weaving machines from SOMET, SMIT, and VAMATEX. All looms are capable of 8 colors in the weft and equipped with Electronic Dobby. Furthermore, a number of looms are equipped with double beams with the purpose of handling seersucker and designs with varying warp tension.
FINISHING: The in house finishing unit ensures that any fabric that moves out of our factory is of high quality. The finishing plant machinery is carefully selected so that it can customize the process of Yarn Dyed Shirting fabrics. The finishing range is equipped to do numerous kinds of special finishes, namely Carbon Peach, Easy to Iron, Stain Resistant, Nano-Care, and Anti Bacteria finish.
LABORATORIES: Evince Textile contains two separate laboratories. One is a pilot lab for color matching, while the other is a quality control lab that aims in ensuring the quality of finished goods. In addition to the equipment’s, our dedicated quality control team is assigned to monitor quality at different stages of the production process.
ETL Lab equipment includes:
Evince Textiles Ltd. use the various machine in the floor are:
Associate’s of Evince Textiles Ltd. are 1. Evince Garments Ltd. 2. Evince Dress Shirts Ltd. 3. Evitex Fashions Ltd. 4. Evitex Apparels Ltd. 5. Evitex Dress Shirts Ltd. 6. Argon Denims Ltd.* 7. Evince Accessories Ltd.
* Please note that after listing of DSE and CSE it will be 2nd Company of Evince Group. In 2013 Argon Denims Ltd. listed in the stock market.
Sales Office: Lotus Kamal Tower (12th floor), 57 Joar Shara C/A, Nikunja-2, New Airport Road, Dhaka-1229.
Phone: +88-02-8961552-4, Fax: +88-02-8961941
EVINCE TEXTILES LTD. EPS & NAV PER SHARE:
As per company’s latest financial statement for the year ended on 31 December 2015 Evince Textile Ltd. stands Earning Per Shares (EPS) at Tk. 1.62 and Net Assets Value (NAV) per shares Tk. 17.62 respectively.
Lanka Bangla Investment Ltd. working as the manager to the issue.
WHY PUBLIC OFFERING:
Bangladesh Securities Exchange Commission (BSEC) approved IPO of above Co. on 04 April 2016. The Company will raise a fund worth Tk. 170.00 million for the purpose of Machinery Purchase, Construction for Buildings, Working Capital and the IPO expenses meet from IPO proceeds.
NOS. OF SHARE OFFER: 1,70,00,000
VALUE OF IPO: Tk. 170,000,000/=
FACE VALUE: Tk. 10/=
PREMIUM VALUE: Nil
MARKET LOT: 500
SHARE ALLOTMENT: 60% for General Public=20,400 lot, 20% for Small Affected= 6,800 lot, 10% for NRB = 3,400 lot and 10% for Mutual Fund =3,400 lot.
** The Company will collect IPO money through BSEC new rules and the new rule is “BROKER HOUSE SHOULD COLLECT IPO MONEY ONLY”.
The Company’s subscription will start from 2 May’16 and cut off date 12 May’16. [Including NRB]
EVINCE TEXTILES LTD. IPO FORM DOWNLOAD HERE:
EVINCE TEXTILES LTD.: PROSPECTUS