Ratanpur Group
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| Formation | 1984 |
|---|---|
| Headquarters | Chittagong, Bangladesh |
Region served | Bangladesh |
Official language | Bengali |
| Revenue | Tk 700 crore US$90 million (2021) |
| Website | www |
Ratanpur Group (Bengali: রতনপুর গ্রুপ) is a Bangladeshi diversified conglomerate based in Chittagong. It is mostly known for its flagship company, Ratanpur Steel Re-Rolling Mills Limited (RSRM).[1]
History
[edit | edit source]Ratanpur Group was established in 1984 with the creation of Ratanpur Steel Re-Rolling Mills Limited (RSRM).[2][3]
In August 2015, Bangladesh Bank approved the rescheduling of a 6.91 billion taka loan from Janata Bank to Ratanpur Group.[4]
Ratanpur Group requested Bangladesh Bank to reschedule a 1.21 billion taka loan from Trust Bank Limited.[5]
In 2018, Ratanpur Group and RSRM both defaulted on paying back their loan installments.[6] Maksudur Rahman, managing director of Ratanpur Group, is also the director of South Bangla Agriculture and Commerce Bank.[6] He said they failed to pay back the loan as the installment amount was not "practical". The group filed a writ petition against being declared a loan defaulter with the Bangladesh High Court.[6]
Ratanpur Group had failed to pay 29 installments but was able to secure a verdict from the Bangladesh High Court that prevented them from being labeled a defaulter.[7] It sought to reschedule their loans from Bangladesh Bank after Modern Steel Mills failed to pay back its loan.[7] It reduced the issue price of RSRM.[8] RSRM made 1 billion taka through issuing right shares on the Dhaka Stock Exchange.[9]
In February 2020, Ratanpur Steel Re-rolling Mills (RSRM) saw a decline in their profits following low demand.[10] In December 2020, The Business Standard mentioned Ratanpur Real Estate as one of a handful of companies that were illegally cutting hills in Chittagong.[11]
On 31 March 2021, the Bangladesh Power Development Board severed electric connection to two steel plants of Ratanpur Group over the non-payment of a 400 million taka electricity bill.[1]
Businesses
[edit | edit source]- Ratanpur Jute Spinners Limited[12]
- Ratanpur Shipping Services Limited[13]
- Modern Steel Mills Limited[14]
- Ratanpur Real Estate Limited[15]
- Ratanpur Poultry and Agro Products Limited[16]
- M. Rahman Steel Mills Limited[17]
- Sapphire Corporation Limited[18]
- Ratanpur Steel Re-Rolling Mills Limited[19]
- Ratanpur Shipping Lines Limited[20]
- Ratanpur Ship Re-cycling Industries Limited[21]
References
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