The Bangladesh Securities and Exchange Commission (BSEC) has approved a proposal of IDLC Finance, which is seeking to raise Tk 255 crore by issuing non-convertible zero coupon bond.

The tenure of the fully redeemable, unsecured, and non-listed bond will be seven years. The proceeds will be used to strengthen the non-bank's liquidity situation. The offer price will be Tk 10 lakh per unit.