After a sought-after IPO that was oversubscribed within hours on the opening day, shares of Sarvodaya Development Finance Limited will be listed and commence trading on the main board of the Colombo Stock Exchange today, 14th December 2021.
A total of 149,596,052 ordinary voting shares will be listed under the ticker symbol SDF.N and the Company will be categorized under the ‘Consumer Finance – 4020’ sector.
Managed by NDBIB Bank, Sarvodaya Development Finance’s IPO successfully raised LKR 1 billion through offering a stake of 30.38% (45 million shares) of the Company to the public at a price of LKR 22.00 per share.
Active interest in the issue was witnessed across a range of investors, including individuals and institutions.
Sarvodaya Development Finance is a licensed finance company formed in 2010 as the economic arm of the Sarvodaya Movement (est. 1958), one of the oldest NGOs in Sri Lanka.