Company · Initiation · 31 Oct 2026
Grameenphone's near-100% payout matches its cash flow, but ten years of flat ARPU and a BDT 75bn spectrum bill leave little room for growth
Fair value BDT 92–341 (base 213) vs a price of 237.3. Revenue has been flat for three years; ARPU growth and the 10-Nov-2026 spectrum renewal price decide where in the range value lies.
Grameenphone (DSE: GP) is Bangladesh's largest mobile operator, with 83.9mn subscribers at the end of 2025 and a 45.3% share of subscriptions on BTRC data; BTRC figures reported by The Financial Express put GP at 87.2mn of 191.1mn subscriptions in August 2026. It is the…
Fair value ৳92–341 · price ৳237.30 (2026-10-29)