The Jamuna Group, one of the country’s largest industrial giants, will not invest in the e-commerce company Evaly. The Jamuna Group has backed out of its intention to invest in Evaly due to the company’s poor image in the market. The situation was verified by Monica Islam, director of the Jamuna Group, to the Bangladesh Tribune. She stated that the Jamuna Group will be in charge of the e-commerce company. It has revealed that one party misunderstood the Jamuna Group and paved the way for a Tk 1,000 crore investment.
Why Will Not Jamuna Group Invest On Evaly
The Jamuna Group has learned that there are further issues within the e-commerce site, according to sources. A reputable audit firm will not desire to audit the company. Evaly’s network is the only thing that exists. There is a danger that investing in such firms would harm Jamuna Group’s image. In such circumstances, Jamuna Group has chosen not to invest in the e-commerce site. On the other hand, the Jamuna Group has made no investment thus far, according to authorities.
According to sources, Jamuna Group, like other groups, will get funds from Evaly. The Jamuna Group was set to purchase a 51 percent interest in Evaly, which is in financial difficulty. Aside from that, there were intentions to invest TK200 crore at first. Following that, a total of one thousand crore taka was to gradually invest. The idea, however, has abandoned by the Jamuna Group. However, it will be formally stated on the day of the launch of it’s own e-commerce firm that it would cut relations with Evaly.
What Will Jamuna Do Then?
Jamuna Group plans to spend TK1,000 crore in Evaly, according to a press statement issued on July 26. “We are extremely delighted to have another local firm by our side as a local effort,” said Mohammad Russell, founder, and CEO of Evaly, in response to the investment. This investment in Jamuna is part of a larger plan, and they have the option of investing in the following stage as well. This money will be use to further Evaly’s development and expand the company’s scope of operations.
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