Jamuna Group to invest Tk 1,000cr in Evaly

PBC News:  Jamuna Group is going to invest Tk 1,000 crore in Bangladesh’s e-commerce company Evaly.

It was stated in a press release sent by Evaly’s Public Relations Department on Tuesday.

“Initially, Jamuna Group will invest Tk 200 crore. The rest of the amount will be invested in phases,” it said.

However, none of the parties disclosed the original market value of the e-commerce company.

Welcoming the investment proposal, Evaly’s founder and chief executive Mohammad Russel said, “We, as a local venture, are really pleased to have another local company by our side. Through this investment, Jamuna Group has become the part of ongoing investments and they have the opportunity to invest in the next phases as well. This investment will be spent on the future development and business scope of Evaly,” the press release said.

Over the investment, Jamuna Group managing director Shamim Islam said Jamuna Group has been working for the welfare of the country and its people for over 50 years as well. “Evaly and Jamuna Group from now on had become partners in fulfilling those dreams,” he said.

“Jamuna Group has been doing business with quality products and services in the country’s market. Jamuna Future Park is the largest offline marketplace in Bangladesh. And, now Evaly will remain as the largest online marketplace with Jamuna Group. We have stood by them in their difficult times, believing in Evaly’s honest business intentions to take Digital Bangladesh and the country’s e-commerce sector forward in a strong position,’ the release quoted Jamuna Group’s group director Monica Islam said.

Quoting Jamuna Group’s director (Accounts) Sheikh Wadud, the release said that Jamuna Group wanted to contribute to the domestic economy at a time of Covid pandemic.

“We will publish more detailed information about this investment step by step,” the release quoted him as saying.

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