B Mirror Report: One Bank PLC has put the Gazipur-based principal factory, land and machinery of listed pharmaceutical company Techno Drugs PLC up for auction after the company failed to repay its outstanding loans.

As of July 31, 2026, the bank was owed Tk 203.47 crore (Tk 2.03 billion) by Techno Drugs, excluding uncharged interest and other recovery-related expenses.

One Bank published the auction notice on September 13, inviting sealed bids from interested buyers. Bids can be submitted until 3:30pm on October 5, after which they will be opened in the presence of the bidders.

According to the bank’s notice, Techno Drugs was repeatedly asked to repay its loans but failed to do so within the stipulated period, resulting in the company being classified as a loan defaulter.

The company’s properties were mortgaged to One Bank through a deed dated December 28, 2017. On the same day, Techno Drugs issued a power of attorney authorising the bank to sell the property and undertake related activities.

The auction covers the factory’s land and buildings as well as a wide range of production, packaging and other equipment.

The machinery includes automatic vial-filling and rubber-stoppering machines, vial-sealing machines, bottle-washing machines, packing machines, sampling booths, dust extractors, cap-sealing machines, vacuum pumps, sterilisation chambers, tray dryers, automatic capping machines, labelling machines, tablet-coating machines and metal detectors.

Other assets include a penicillin building, cooling platform, air shower, refrigerators, electronic balances, powder-filling machines and dress-washing machines.

Potential buyers have been advised to inspect and verify the factory and machinery before submitting bids. The assets will be sold on an “as is, where is” basis, and no subsequent claims, objections or complaints will be entertained.

For bids up to Tk 10 lakh, bidders must submit a security deposit equivalent to 20% of the bid value. The rate is 15% for bids above Tk 10 lakh and up to Tk 50 lakh, and 10% for bids exceeding Tk 50 lakh.

The deposit must be submitted through a bank draft or pay order.

The successful bidder will have 30 days to pay the full amount for bids up to Tk 10 lakh, 60 days for bids above Tk 10 lakh and up to Tk 50 lakh, and 90 days for bids exceeding Tk 50 lakh. Failure to complete payment within the stipulated period will result in forfeiture of the security deposit.

Under the auction terms, the second-highest bidder may be offered the opportunity to purchase the property, subject to applicable conditions.

Any outstanding payments to the city corporation, WASA, electricity authorities, Titas Gas, land development tax or other agencies will have to be settled by the buyer. The successful bidder will also bear VAT, registration fees, taxes and other associated costs.

The bank reserves the right to reject any bid it considers unusually low or inadequate.

Established in 1996, Techno Drugs was listed on the capital market in 2024 through the book-building method. The company raised Tk 100 crore through its IPO. Its cut-off price was Tk 34 per share, while shares were offered to general investors at Tk 24 after a 30% discount.

The company has faced allegations of failing to distribute the prescribed portion of profits as dividends and violating income-tax laws. Allegations have also been raised over the alleged transfer of company funds abroad. The concerned officials, however, have denied the allegations.

Techno Drugs manufactures allopathic medicines, injections, hormones and specialised oncology medicines used in cancer treatment.

People familiar with the company said it has faced business pressure since its stock market listing. The company recently applied for a Tk 96 crore tender to supply contraceptive pills to the Directorate General of Family Planning.

They expressed concern that the auction of the principal factory could affect the company’s ability to manufacture and supply medicines in the future.

Efforts to obtain a comment from Techno Drugs Managing Director Shah Jalal Uddin Ahmed were unsuccessful. He ended a phone call saying he was busy and did not respond to subsequent calls or a text message.

Techno Drugs Director Arefin Rafi Ahmed acknowledged that the company had been unable to repay the loan within the stipulated period. He said the bank had therefore put the Gazipur pharmaceutical factory and land up for auction.

“This will affect our medicine production. The share price may decline somewhat,” he said.

The loan liability has also been linked to Managing Director Shah Jalal Uddin Ahmed, Chairman Khaleda Akhter Khan, and directors Mehreen Ahmed, Arefin Rafi Ahmed and Md Mamunur Rashid.