Finance Minister AHM Mustafa Kamal, Bangladesh Bank as well as the capital market analysts have been emphasizing on listing of reputed companies in the capital market to reinforce the market.
They noted that capital market would be again reinforced if the country’s reputed companies come into the market.
Meanwhile, Walton's bidding on the book building system has also been completed.
Sources at the Walton Group, said the company will raise Tk100 crore from the capital market for expanding its business, paying back bank loans, and meeting IPO expenses through the initial public offering (IPO).
The cut-off price, however, of shares of Walton Hi-Tech Industries Limited has been set at Tk315 each after bidding by eligible institutional investors.
The company's prospectus showed that its turnover was increased by Tk 2,444.35 crore to Tk 5,177.3 crore in the fiscal year 2018-19 from its previous fiscal year’s Tk 2,732.9 turnover.
Yakub Ali, head of accounts, Walton Group, said the company’s turnover were sharply increased in the last fiscal year with the some of the initiatives like opening new sales outlets, introducing aggressive marketing strategies and bringing the after-sales services into online network and providing lucrative facilities on the purchase of digital campaign etc.
The operations of some other products such as electrical appliance, air conditioner and television were brought under the Walton Hi-Tech Industries Limited in the last fiscal year, he added.
That’s why the company’s turnovers were sharply gone up which lifted the company’s net profit to Tk 1,376.1 crore in the FY 2018-19 from the previous fiscal year’s Tk 352.32 crore net profit.
Uday Hakim, director, Walton Group, said turnover and profitability have increased tremendously in the previous financial year for operating the company’s overall activities with a well-planned and long-term roadmap.
Walton’s entire sales networks are consisting of - Plaza, distributor, corporate, online and international marketing channels, he added.
Meanwhile, Walton Hi-Tech Industries Limited (WHIL) has been honoured with ‘Highest VAT Payer Award’ by the Export Promotion Bureau (EPB) for depositing highest amount of VAT in the Dhaka International Trade Fair (DITF)- 2020.
Apart from that, Walton also received two other awards under the Best General Pavilion as well as the Best Premier Pavilion categories in this year’s DITF fair.