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Day End Statistics
IPO Timeline
| FIXED PRICE METHOD | ||
| Pre-Application Stage: | ||
Step |
Activity |
Statutory Timeline |
|---|---|---|
| FP-1 | Board approval for IPO (size & method) | Before application |
| FP-2 | Appointment of Issue Manager, Underwriter(s), Registrar | Before application |
| FP-3 | Preparation of draft prospectus & audited financials (≤120 days old) | Before application |
| Application & Review Stage: | ||
Step |
Activity |
Statutory Timeline |
| FP-4 | Submission of application & draft prospectus to BSEC and Stock Exchange(s) simultaneously | Day 0 |
| FP-5 | Upload of draft prospectus on issuer & issue manager website | Immediately after submission |
| FP-6 | Exchange factory/office visit & document review | Within 20 days of receipt |
| FP-7 | Exchange seeks clarification (if any) | Within review period |
| FP-8 | Issuer response to Exchange queries | Within time specified by Exchange |
| FP-9 | Exchange recommendation / rejection to BSEC | Within 30 days of receipt |
| FP-10 | BSEC review after Exchange recommendation | After receipt |
| FP-11 | BSEC consent or rejection | Within 20 days of receipt of recommendation |
| FP-12 | Review of Exchange findings (if material defect) | Within 7 days |
| FP-13 | Appeal/review application by issuer against rejection | Within 20 days from date of rejection |
| Subscription Stage: | ||
Step |
Activity |
Statutory Timeline |
| FP-14 | Publication of vetted prospectus (websites + newspapers) | Within 3 working days of consent |
| FP-15 | Opening of EIs subscription through ESS | After consent |
| FP-16 | EIs subscription window | 120 hours (round the clock) |
| FP-17 | Transfer of EIs subscription money to issuer escrow | Within 4 working days of close |
| FP-18 | Refund of excess EIs subscription | Within 5 working days of close |
| FP-19 | Opening of General Investor subscription | After 10 working days from prospectus publication |
| FP-20 | General Investor subscription window | Up to 15 working days |
| FP-21 | Submission of subscription status to BSEC & Exchange | Within 5 working days of close |
| Under-Subscription (If Applicable): | ||
Step |
Activity |
Statutory Timeline |
| FP-22 | Notice to underwriters | Within 10 days of subscription close |
| FP-23 | Underwriter payment | Within 15 days of notice |
| FP-24 | Proof of payment to BSEC | Within 7 days after payment period |
| Listing & Post-IPO: | ||
Step |
Activity |
Statutory Timeline |
| FP-25 | Listing approval by Exchange(s) | After post-subscription compliance |
| FP-26 | Commencement of trading | As per consent letter |
| FP-27 | Quarterly utilization report submission | Within 10 days of quarter end |
| BOOK-BUILDING METHOD | ||
| Pre-Application & Price Discovery Stage: | ||
Step |
Activity |
Statutory Timeline |
| BB-1 | Board approval for IPO | Before process |
| BB-2 | Appointment of Issue Manager & others | Before process |
| BB-3 | Invitation to EIs for roadshow (newspapers + digital) | At least 10 working days before roadshow |
| BB-4 | Conduct of roadshow (issuer & issue manager) | As scheduled |
| BB-5 | Submission of valuation by EIs | Within 3 working days after roadshow |
| BB-6 | Determination of indicative price | After EI valuation |
| BB-7 | Preparation of red-herring prospectus (no price) | Before application |
| Application & Review Stage: | ||
Step |
Activity |
Statutory Timeline |
| BB-8 | Submission of application & red-herring prospectus to BSEC & Exchange(s) simultaneously. | Day 0 |
| BB-9 | Upload of red-herring prospectus on Exchange website | Immediately |
| BB-10 | EIs comments on prospectus | Within 5 working days |
| BB-11 | Issuer/Issue Manager response to EIs comments | Within 5 working days |
| BB-12 | Exchange factory visit & document review | Within 20 days |
| BB-13 | Exchange seeks clarification (if any) | Within review period |
| BB-14 | Issuer response to Exchange queries | Within time specified by Exchange |
| BB-15 | Exchange recommendation to BSEC | Within 30 days |
| BB-16 | BSEC consent to commence EIs bidding | After recommendation |
| Bidding Stage (EI Portion): | ||
Step |
Activity |
Statutory Timeline |
| BB-17 | Opening of EIs bidding through ESS | After BSEC consent |
| BB-18 | EIs bidding duration | 72 hours (round the clock) |
| BB-19 | Determination of cut-off price | After bidding close |
| BB-20 | Publication of EIs allotment list | Within 3 working days |
| BB-21 | Transfer of bid money to issuer escrow | Within 4 working days |
| BB-22 | Refund of excess bid amount | Within 5 working days |
| BB-23 | Submission of final prospectus (with cut-off price) | Within 5 working days |
| Public Subscription & Listing: | ||
Step |
Activity |
Statutory Timeline |
| BB-24 | Opening of General Investor subscription at cut-off price | After 10 working days from prospectus approval and publication |
| BB-25 | General Investor subscription window | Up to 15 working days |
| BB-26 | Submission of subscription status | Within 5 working days of close |
| BB-27 | Underwriter process (if under-subscribed) | Same as Fixed Price |
| BB-28 | Listing approval & commencement of trading | As approved |
| BB-29 | Quarterly utilization reporting | Within 10 days of quarter end |
DSE Tower, Plot # 46, Road # 21, Nikunja-2, Dhaka-1229, Bangladesh
Phone: +88-02-41040189-200, FAX: +88-02-41040096
Email: info@dse.com.bd, Web: http://www.dsebd.org/