The company wants to raise Tk 5 crore.
The initial qualified investor offer subscription of Doer Services PLC, an IT-based company, will begin on 19 January and continue till 23 January this year, according to a stock exchange disclosure.
To apply for the company’s qualified investor offer shares, general investors will need to have a minimum investment of Tk50,000 in matured listed securities, and non-resident Bangladeshis (NRBs) Tk1 lakh as of 13 December.
Qualified investors must maintain a minimum investment of Tk30 lakh at market value in matured listed securities, including open-ended mutual funds, as of 9 January.
In June last year, Doer Services got the approval of the Bangladesh Securities and Exchange Commission (BSEC) to raise Tk5 crore through an initial qualified investor offer from the SME platform of the bourses.
Of the fund, the company wants to use Tk3.28 crore for product development and enhancement, Tk51 lakh to set up a cloud computing environment, Tk28 lakh for funding product penetration, and Tk68 lakh for expanding its development facilities.
Doer Services was incorporated in 2014 and started operations in February 2015. The company’s principal products and services include software development, software or application customisation, outsourcing, digital data entry and processing, support, and software maintenance and call centre services. All of these products are marketed throughout Bangladesh.
It mainly provides an end-to-end agent banking ecosystem including the technological infrastructure and agent network.
As a fintech-based organisation, it manages several projects, such as SMS banking, agent banking, pay point, unified messaging platform, learning management system, remittance platform, payments systems, and private cloud. It has no subsidiary.
Agrani Bank, the Insurance Development Regulatory Authority, the Microcredit Regulatory Authority, and the National Board of Revenue are the largest customers of the company.
The company has lands in different areas of Sylhet. It currently operates business on rented premises in Dhaka.
Its authorised capital is Tk100 crore and paid-up Tk44.50 crore, according to the company’s draft prospectus.
Alpha Capital Management Ltd is the issue manager of the company.
Demand for software and IT-enabled services is growing in the country as many local business entities alongside the government and other organisations are adopting automation. After overcoming the pandemic consequences, the sector has now been able to attract customers worldwide through IT-enabled services, said industry people.
The stock exchanges introduced their SME platforms in September 2019 to attract businesses with small capital bases to the stock market and help them raise capital.