The Initial Public Offering of Sarvodaya Development Finance was oversubscribed on opening day. The IPO, which took place yesterday (23rd November), saw 45.4 million in total offered with an LKR 22 per share price tag.
The initial plan was to offer 22.727 million shares while an additional 22.772 million shares would be offered in case of oversubscription. Both the tranches of shares were to be provided at LKR 22 per share.
According to the registrars, applications were accepted until 4.30 pm, and the subscriptions received exceeded LKR 1 billion.
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