Desh General Insurance Company IPO Lottery Result publishing possible date is 10th March 2021. IPO Application submission started date next 14th February 2021. Desh General Insurance Company celebrates successful IPO approval from BSEC with the representatives of its issue manager Asian Tiger Capital Partners Investments Limited.
Desh General Insurance Company IPO Result
The securities regulator has approved the IPO (initial public offering) proposal of Desh General Insurance Company under the fixed price method. Desh General Insurance Company company decided that 14th February 2021 will be started the IPO submission date close 18th February 2021.
The Bangladesh Securities and Exchange Commission (BSEC) on Wednesday approved Desh General Insurance Company’s initial public offerings (IPO) worth Tk 16 crore. The IPO subscription of the Desh General Insurance will start in February next year, while Prime Finance Capital Management will act as the issue manager. As per the commission’s condition, the insurance company is bound to invest its total IPO fund in the capital market, purchasing treasury bonds, paying IPO costs, and others. Desh General Insurance Company IPO Result 2021.
Desh General Insurance IPO Result 2021
Sponsor-directors would provide Tk 2 crore, while the remaining Tk 18 crore would be collected from general investors by selling its units at Tk 10 each. UCB Management will act as the asset manager of the fund, Sandhani Life Insurance as a trustee, and Brac Bank as its custodian.
Desh General Insurance Company Limited (DGIC) is one of the pioneering general insurance companies in Bangladesh. DGICL was incorporated on February 08, 2000, as a public limited company, under the Companies Act 1913, and its operation commenced on 1st March 2000 with a paid-up capital of BDT 60.00 million.
Now, Desh General Insurance Company Ltd. has amassed more than BDT 240 million with a credit rating of A+ (long term). Desh General Insurance Company (DGIC) has a presence in the strategically important parts of the country which includes 43 branches.
Desh General Insurance Company Limited is a Public Limited Company incorporated in Bangladesh on February 08, 2000, under the Companies Act-1994 and Insurance Act 1938 (Replaced by Insurance Act, 2010).
Desh General Insurance Company IPO Result
Stocker broker/Merchant Banker’s Code
This year Desh General Insurance Company Limited was a landmark in the sense that we found a greater alignment with our purpose. Definitely, our purpose is to ensure that we dovetail our organizational vision with the bigger picture, the doctrine of which has been in the Sustainable Development Goals (SDGs).
This has provided us with a strong focus to formulate our products and solutions around catering to what is emerging as the most important differentiator in a crowded market: relevant, high-impact, high-value, and low-cost insurance services. Desh General Insurance Company Limited official website https://deshinsurancebd.com/
Desh General Insurance IPO Result
Desh General Insurance Company incorporated under the Companies Act 1994 by the office of the Registrar of the Joint Stock Companies in Bangladesh on February 08, 2000. We began the journey of our business in the same year presenting the Company as DGIC in brief codes.
Since 2000 we are providing insurance coverage in respect of risks allied to individuals, properties, assets, and business; in this respect, we are maintaining a high-level professional provision of human resources to meet up the requirements of our valued clients. Our services mainly include:
FIRE: Fire and Allied perils Insurance, Industrial all risk Insurance (IAR), Business Interruption Insurance, Loss of Profit/Consequential Loss Insurance. Desh General Insurance Company Limited official website https://deshinsurancebd.com/ipo-info/
MARINE: Marine Cargo Insurance (Transit by sea, air, land), Marine Hull Insurance.
ENGINEERING: Erection All Risk (EAR), Contractors All Risk (CAR), Machinery Breakdown (MBD) Insurance, Boiler and Pressure Vessel Insurance, Deterioration of Stock (DOS) Insurance.
MOTOR: Motor Vehicle Insurance (Comprehensive & Act Liability.
MONEY INSURANCE: Cash -in-transit (CIT) Insurance, Cash -in-safe (CIS) Insurance (ATM), Cash -on-counter (COC) Insurance.
MISCELLANEOUS: Burglary and Housebreaking, Workmen’s Compensation Insurance, Personal Accident (PA), Peoples Personal Accident (PPA) Insurance.
Desh General Insurance IPO Result 2021
Meantime, many individuals, national and multi-national companies entrusted their insurance requirements to our Company and getting our improvised professional services over the years of operations. More to that, in course of our day-to-day business, sometimes, our clients are in the dilemma of selecting the appropriate insurance coverage to suit their needs in respect of risk and situation and require specialist advice/suggestion from a team of risk management professionals.
We at DGIC, doing the same and undertaking the responsibility of proposing the right & adequate coverage as needed to protect and stabilize the financial interests of our promoters & sponsors i.e., our respected clients.
Furthermore, being insurance is an act of transferring risks and liabilities through a chain of contracts, we also distribute & transfer our undertakings to our reinsurers in proportions locally to SBC and many other overseas reinsurers; this is for the better recovery of losses against occurrences to the properties & assets insured with us. Thus, we insure and ensure the interests of our clients & our Company “DGIC”.
We are in the train of progress to reach the utmost destination of the stronger base of providing the highest risk coverage with a stronger financial provision. The very important consideration is that our Company is now holding the long-term credit rating of A+ based on our financial and organizational variables. “DGIC” ensures professional dedication to secure your business interests to the best.
Desh General Insurance Company IPO Result 2021
Desh General Insurance will invest the IPO funds in the capital market, fixed deposits, and treasury bonds. According to the audited financial report for the year ending on 31 December 2019, the earnings per share (EPS) of the company stood at Tk1.36 while its net asset value per share was Tk11.62, excluding revaluation.
Like most of the general insurance companies in the industry, Desh General Insurance underwrites risks in the: fire, marine, motor, and miscellaneous business areas. The company started its operations in March 2000. The company has no subsidiary and does not belong to a holding company.
Prime Finance Capital Management Limited is working as the issue manager of Desh General Insurance for its IPO process. As per BSEC’s decision, institutional investors with a minimum of Tk1 crore investments in stocks can subscribe to the shares of the company through the electronic subscription system. Besides a recognized pension fund and provident fund, institutional investors with a minimum of Tk0.50 crore investments in stocks will also be able to subscribe to the shares in the same way. Desh General Insurance Company IPO Result 2021.
Desh General Insurance Company IPO Result
There are 78 companies – 32 life insurance and 46 non-life insurance – in the insurance sector of Bangladesh. Desh General Insurance Company Limited (DGIC) was incorporated on February 08, 2000, as a public limited company, under the Companies’ Act 1913 and its operation commenced on 1st March 2000 with a paid-up capital of BDT 60.00 million.
Now, Desh General Insurance Company Ltd. has amassed more than BDT 240 million with a credit rating of A+ (long term). Desh General Insurance Company (DGIC) has a presence in the strategically important parts of the country which includes 43 branches. Desh General Insurance Company Limited (DGIC) has maintained its market leadership and supremacy over the journey of these 20 glorious years with the vision to build a secure Bangladesh.
