Type Private Area served Bangladesh Founded 2010 | Industry Financial Services Headquarters Dhaka Parent organization IDLC Finance Limited | |
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Key people Monower Uddin Ahmed (Chairman)
Md. Moniruzzaman, CFA (MD) Products Investment banking, Portfolio management, Margin loans, Securities research | ||
IDLC Investments Limited (IDLCIL) is a full-fledged merchant bank, headquartered in Dhaka, Bangladesh.Full form International Development Leasing Corporation. The company is a wholly owned subsidiary of IDLC Finance Limited (IDLC), the country's Largest Non-Banking Financial Institution, which was created jointly by, International Finance Corporation, German Investment Corporation, Korea Development Bank, Aga Khan Fund for Economic Development and other local and international institutions.
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IDLCIL started as the merchant banking division of IDLC in 1999. Later in 2010, it emerged as a separate company as per the requirement of Bangladesh Securities and Exchange Commission. The firm provides Investment banking, Portfolio management, Margin loans and Securities research services to its clients, which include both corporations and individuals.
History
Investment banking operations of IDLC commenced in 1999, as Merchant Banking Division with the primary activity being underwriting of shares. The division managed its first Initial Public Offering (IPO) in 2003, by taking Bank Asia public. The company entered into portfolio management business by offering non-discretionary fund management services in 2004 and discretionary fund management services in 2007. It was the first issue manager to exercise Greenshoe dilution option, in IPO of Marico Bangladesh Ltd., a local subsidiary of Marico, in 2009. In 2010, it emerged as the first ever issue manager in Bangladesh to manage IPO under Book Building method by raising equity worth of BDT 1,656 million (USD 23 million) for RAK Ceramics (Bangladesh) Limited, a local subsidiary of RAK Ceramics.
The division was transformed into a new company, IDLC Investments Limited, in 2010, in compliance to a requirement of Bangladesh Securities and Exchange Commission.