Sheltech Ceramics raises Tk 1.5b thru’ preference shares

FE Team | Published: January 17, 2024 22:09:50

In a significant financial move, Sheltech Ceramics Limited, a rapidly growing player in the ceramics manufacturing sector and a concern of the prestigious Sheltech Group, has raised Tk 1.5 billion (150 crore) by issuing non-convertible cumulative preference shares in the market, says a press release issued on Tuesday.
The management took this step as a proactive measure to minimize future financial risks.
Sheltech Ceramics Ltd., capable of producing 420,000 sqft (39,000 sqm) of tiles per day, started its commercial production in February 2019 with a state-of-the-art factory and modern European technology for its exclusive line of floor and wall tiles.
It manufactures a wide variety of world-class wall and floor tiles, both interior and exterior, with the designs, sizes, and textures being based on analyzing current market trends and styles preferred by customers.