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38	38	[[image:the merger.PNG||alt="the merger timeline" height="562" width="819"]]
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40		-During the time of merger, Airtel had 7.94 million subscribers and Robi had 23.2 million subscribers. After the merger, the company had approximately 3.22 million subscribers, making it the second largest operator in the country, exceeded by Grameenphone (54.5 million subscribers) and followed by Banglalink (29 million subscribers) at that time.[[[1]>>path:#_ftn1]] Robi still remains the second largest operator with approximately 50 million subscribers. The main points of the merger are as follow –
	40	+During the time of merger, Airtel had 7.94 million subscribers and Robi had 23.2 million subscribers. After the merger, the company had approximately 3.22 million subscribers, making it the second largest operator in the country, exceeded by Grameenphone (54.5 million subscribers) and followed by Banglalink (29 million subscribers) at that time{{footnote}}https://www.thedailystar.net/business/telecom/robi-airtel-complete-merger-1315822{{/footnote}}. Robi still remains the second largest operator with approximately 50 million subscribers. The main points of the merger are as follow –
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42	42	* The merger bid started in August, 2015
43	43	* The merger took place on 16 November, 2016
44	44	* Robi (together with Airtel) became the second largest operator in Bangladesh
45	45	* The government has charged Robi BDT 1 billion as merger fee and 5.07 billion as spectrum fee
46		-* The prefixes of Robi and Airtel are 018 and 016 have started operating under the same umbrella after the merger. However, Robi would continue the Airtel branding only for two years after the merger[[[2]>>path:#_ftn2]]
	46	+* The prefixes of Robi and Airtel are 018 and 016 have started operating under the same umbrella after the merger. However, Robi would continue the Airtel branding only for two years after the merger{{footnote}}https://www.thedailystar.net/business/telecom/robi-airtel-complete-merger-1315822{{/footnote}}.
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48	48	== The Stock Market Debut in 2020 ==
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50		-Robi Axiata Limited has made its share market debut on 24 December, 2020. The company has 523.7 million shares, of which it has offloaded 10% shares to public. The company raised BDT 5.237 billion from the initial public offering at BDT 10 per share in the secondary markets. Since the telecommunications market in Bangladesh is of oligopolistic nature and Robi is the second largest telecommunications operator after Grameenphone to go public, there was a public hype about the IPO. The company followed fixed price method and called for subscription. The share would be allocated based on a lottery system. There was 5.74 times more subscription than the allocated number of shares. The company issued 136.1 million shares to employees to raise BDT 1.361 billion under Employee Share Purchase Plan (ESPP).[[[1]>>path:#_ftn1]] The rest of the shares were issued publicly.
	50	+Robi Axiata Limited has made its share market debut on 24 December, 2020. The company has 523.7 million shares, of which it has offloaded 10% shares to public. The company raised BDT 5.237 billion from the initial public offering at BDT 10 per share in the secondary markets. Since the telecommunications market in Bangladesh is of oligopolistic nature and Robi is the second largest telecommunications operator after Grameenphone to go public, there was a public hype about the IPO. The company followed fixed price method and called for subscription. The share would be allocated based on a lottery system. There was 5.74 times more subscription than the allocated number of shares. The company issued 136.1 million shares to employees to raise BDT 1.361 billion under Employee Share Purchase Plan (ESPP){{footnote}}https://thefinancialexpress.com.bd/stock/bangladesh/bsec-cautious-about-robis-ipo-approval-1595737069{{/footnote}}. The rest of the shares were issued publicly.
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52		-At the time of Robi’s floatation to the stock market, the company had an earnings per share (EPS) of BDT 0.04; profit plunged 77 percent year-on-year in the third quarter of 2020, which must be attributable to the lockdown due to Covid-19; and yearly revenue and net profit were BDT 74.81 billion and BDT 200 million, respectively, in 2019.[[[2]>>path:#_ftn2]] Below are the facts and figures of Robi’s IPO debut –
	52	+At the time of Robi’s floatation to the stock market, the company had an earnings per share (EPS) of BDT 0.04; profit plunged 77 percent year-on-year in the third quarter of 2020, which must be attributable to the lockdown due to Covid-19; and yearly revenue and net profit were BDT 74.81 billion and BDT 200 million, respectively, in 2019{{footnote}}https://www.thedailystar.net/business/news/robis-stock-market-debut-thursday-2015225{{/footnote}}. Below are the facts and figures of Robi’s IPO debut –
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54	54	* Bangladesh Securities and Exchange Commission (BSEC) approved the IPO on 23 September, 2020
55	55	* 52.37 million shares offered at BDT 10 per share to raise 5.237 billion
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62	62	The business of Robi is manifested by its introduction of 4.5G services nationwide with a coverage of 97.4% of the total population. The company regularly rolls out different competitive offers and packages to their customers. It has conducted a trial run of 5G on its network as the first company in Bangladesh on July 25, 2018. The business strategy of the company is firmly rooted in expanding its network, subscribers, and introducing newer digital services.
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64		-In 2020, Robi has achieved a subscriber growth rate of 3.9%, year on year. The company had its 99% of the 4G sites operational and experienced a year-on-year 4G user growth of 72.8% in 2020. Despite the pandemic, the company has managed to experience a revenue growth of 1.1%, year on year, in 2020. The performance of the business in 2020 has been stellar compared to 2019 in terms of net profit. The company has made a net profit of BDT 1,574 million compared to BDT 169 million a year earlier. It claims that the growth has been due to operational efficiency.[[[1]>>path:#_ftn1]] However, a close inspection of the income statement shows that the company experienced a revenue growth of BDT 811 million, and decreased administrative expenses and operating expenses by BDT 1,182 million and BDT 956 million, respectively, in 2020. These factors have contributed to the huge increase in profits. The earnings per share (EPS) has increased from BDT 0.04 in 2019 to 0.33 in 2020.
	64	+In 2020, Robi has achieved a subscriber growth rate of 3.9%, year on year. The company had its 99% of the 4G sites operational and experienced a year-on-year 4G user growth of 72.8% in 2020. Despite the pandemic, the company has managed to experience a revenue growth of 1.1%, year on year, in 2020. The performance of the business in 2020 has been stellar compared to 2019 in terms of net profit. The company has made a net profit of BDT 1,574 million compared to BDT 169 million a year earlier. It claims that the growth has been due to operational efficiency{{footnote}}https://webapi.robi.com.bd/uploads/files/shares/Page/20210216_Robi_%20IR_Q42020_Final.pdf{{/footnote}}. However, a close inspection of the income statement shows that the company experienced a revenue growth of BDT 811 million, and decreased administrative expenses and operating expenses by BDT 1,182 million and BDT 956 million, respectively, in 2020. These factors have contributed to the huge increase in profits. The earnings per share (EPS) has increased from BDT 0.04 in 2019 to 0.33 in 2020.
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66	66	The company has made contribution to the government of Bangladesh by payments in the form of tax, VAT, revenue sharing, and duties. As the revenue and profits of the company is growing, so is the payment to the government.
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79	79	* RedDot Digital has unveiled a private equity fund named R-Ventures on 1 July, 2021. The fund is worth BDT 150 million and will work as an alternative investment vehicle (AIF). RedDot Digital is a fully-owned subsidiary of Robi Axiata Limited.
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83		-[[[1]>>path:#_ftnref1]] https:~/~/webapi.robi.com.bd/uploads/files/shares/Page/20210216_Robi_%20IR_Q42020_Final.pdf
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88		-[[[1]>>path:#_ftnref1]] https:~/~/thefinancialexpress.com.bd/stock/bangladesh/bsec-cautious-about-robis-ipo-approval-1595737069
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90		-[[[2]>>path:#_ftnref2]] https:~/~/www.thedailystar.net/business/news/robis-stock-market-debut-thursday-2015225
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94		-[[[1]>>path:#_ftnref1]] https:~/~/www.thedailystar.net/business/telecom/robi-airtel-complete-merger-1315822
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96		-[[[2]>>path:#_ftnref2]] https:~/~/www.thedailystar.net/business/telecom/robi-airtel-complete-merger-1315822
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