Footwear can be profitable industry in the country

Business Desk

Craftsman Footwear & Accessories Limited is the fastest growing export oriented leather industry company in the country. The company has been on a growth spurt especially for the last two to three years. The company will raise funds through Qualified Investors Offer (QIO) to further expand its business and involve people in its ownership. This application of the company will continue from April 21, 2024 to April 25. The record date is fixed as April 8, 2024 (Monday).

It is reported that the company will raise 5 crore taka through the issue of 5 million shares at 10 taka each through QIO. The company will use the proceeds for balancing, modernization, expansion and replacement, repayment of bank loans, working capital management and issue management expenses.

Sadat Hossain Salim, Managing Director of Craftsman Footwear and Accessories Limited, said, “Our capital is small, that’s why we want to come to the SME platform first. After a few years there we will move to the main platform of the stock market. Moreover companies listed outside the country are more acceptable and create a brand value. Basically, we want to come to the stock market for these two reasons.

Investors’ objective Sadat Hossain Salim said, trust us; we will try our best to keep your trust. We are also giving considerable importance to increasing exports. We are also very committed to corporate governance. All in all, if you invest in Craftsman Footwear shares, there will be ample opportunity to profit.

Craftsman Footwear and Accessories is an export-oriented leather industry company established in Jaina Bazar area of Sreepur Upazila of Gazipur. According to company sources, advanced equipment has been brought and installed in the company from several countries of the world. Craftsman Footwear manufactures various types of shoes for customers including formal, casual, oxford, moccasin, derby, high heel, pami.

Craftsman Footwear’s footwear customers include – Bata, Haspapish, On Spirit, Fine Boys, etc.

According to information, capital market regulatory body Bangladesh Securities and Exchange Commission (BSEC) approved the company’s Qualified Investor Offer (QIO) on Wednesday, February 14.

As per financial details for the period from July 1, 2022 to June 30, 2023, the company’s earnings per share (EPS) stood at Tk 2 35 paise and net asset value per share (NAVPS) stood at Tk 16 72 paise.

Besides, Green Delta Capital Limited is engaged in the issue management of the company.

It is mentionable that the issuer company cannot issue any bonus shares for the next 3 years from the date of transaction on the SME platform.