The Chittagong-based company, which received approval from the Securities and Exchange Commission (SEC) in January to float primary shares, will raise a total of Tk 6 crore from the public through IPO. The company will float a total of 60 lakh ordinary shares at Tk 10 each to raise the amount.

The subscription will close on Thursday while subscription for non-resident Bangladeshis (NRBs) will close on March 17.

Market sources said after a long period a manufacturing sector company is going to float primary shares in the market.

The 100 percent export-oriented company, which started its production in 2005, manufactures non-electrical cooker, hotpot, food warmer, toys, and tennis racket and ball for children.

Authorised capital of the company is Tk 50 crore and paid-up capital Tk 19 crore. The company also raised Tk 4 crore through private placement from Investment Corporation of Bangladesh, Trust Bank, Union Capital, Equity Partners and Karnaphuli Insurance.