Essential Drugs Company gets IPO approval. The st ate-owned company Essential Drugs Company Limited (EDCL) Tuesday received go ahead with its Initial Public Offering (IPO) set up from the securities regulator. the company can raise over Tk 59.22 crore by issuing 5.93 crore ordinary shares with Tk 10 each, said the Securities and Exchange Commission (SEC) in an exceedingly statement. after post-IPO (initial public offering), its paid capital can increase to Tk a hundred cror e from existing Tk 41.70 crore.

Essential Drugs Company Limited (EDCL) may be a 100% state owned pharmaceuticals Company in Bangla Desh. within the year 1962 it absolutely was functioning beneath the then Central Government within the name & variety of Government pharmaceuticals Laboratory (GPL) and afterward it absolutely was renamed as pharmaceuticals Production Unit (PPU) within the year 1979. within the interest of Public Health & swish running of the organization, it absolutely was registered as a Public company under the Company’s Act-1994. The Ministry of Health & Family Welfare of Bangla Desh is its dominant authority. it absolutely was established in 1983 with the most objective of fixing a sophisticated pharmaceuticals trade within the Country for the native production of medicines and to produce these product within the Country for public health and for Export. EDCL has developed a robust position in Bangla Desh in Govt. Sector and is well positioned to sustain its growth and have a sound platform to serve export markets. Presently approved capital of EDCL is Tk.200.00 crore and paid up capital 41.70 crore Tk. 10/= every per share.