DBL Group subsidiary Parkway Packaging and Printing PLC has applied for approval to raise Tk 78 crore from the capital market through an initial public offering (IPO), proposing to issue shares at Tk 40 each, including a Tk 30 premium over the Tk 10 face value.

The company submitted its IPO application to the Bangladesh Securities and Exchange Commission (BSEC) on October 25, seeking to issue 1.95 crore ordinary shares under the fixed-price method, according to sources familiar with the application.

Parkway Packaging plans to invest the entire IPO proceeds in its subsidiary, Next Pack Limited, to establish a modern, fully automated corrugated carton manufacturing plant at a separate location.

The proposed factory will supply cartons to the garment industry and other sectors with demand for packaging products. The company expects the facility to increase production capacity and improve its supply chain.

According to the application documents, the proposed share price was determined in line with the Public Offer of Equity Securities Rules, 2025. The company said it consulted with the issue manager and followed the prescribed valuation process.

The company has submitted a draft prospectus and other required documents to the regulator for review. However, the IPO proposal has yet to receive BSEC approval, and the share issuance and fundraising will depend on the regulator’s review and final decision.