SDF IPO oversubscribed on opening day | Sunday Observer

SDF IPO oversubscribed on opening day

28 November, 2021
Chairman Channa de Silva
Chairman Channa de Silva

Sarvodaya Development Finance’s (SDF) Rs. 1 billion Initial Public Offering (IPO) was oversubscribed on the initial opening day. 

Underwritten by NDB Bank and Sampath Bank, the IPO was aimed at raising Rs. 1 billion, through 45 million ordinary voting shares at Rs. 22 per share. The stake offered was 30.38%. There was active interest from a range of investors, individuals and institutions alike.

Sarvodaya Development Finance Chairman,  Channa de Silva said, “We are pleased to receive such overwhelmingly positive feedback to SDF’s initial public offering and would like to offer a sincere note of gratitude to all those who subscribed to our IPO, placing their confidence in our enterprise and its journey. The tremendous success of our IPO will successfully aid the growth in our rural loan portfolio, which will in turn assist in developing many rural villages across the country and is a true reflection of both local and international investors’ faith in the good work that SDF does.”

CEO, Sarvodaya Development Finance Nilantha Jayanetti said, “Today marks a momentous day for all of us at SDF. Not only does the oversubscription of our IPO reflect the confidence that investors have in us as a company, it also strengthens SDF’s goal of continuing to be Sri Lanka’s Fastest Growing Development Finance Company, uplifting and empowering rural masses all across the nation.”