Sri Lanka’s First IT IPO Generates A 13.5x Over Subscription
Posted 16,December

By Chaveendra Dunuwille

In Local News

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The Initial Public Offering of hSenid Business Solutions valued at LKR 619 million saw the company offer 55.4 million ordinary voting shares at LKR 12.50 per share. The IPO was a first for Sri Lanka’s IT and BPM sector, and it drew 10.602 applications worth LKR 9.3 billion. 

The value of the applications received marked times 13.5 oversubscription to the IPO. Despite being the lowest application form with only 69, the IPO received LKR 5.15 billion worth of payments via guarantees. The IPO received a total of 3513 applications worth LKR 2.68 billion in the form of Payments via Bank Drafts & Cheques, and a further 7018 applications worth LKR 1.48 billion in the form of RTGS. SLIPS, and CEFTS.