CSE approves Kapruka’s Rs. 505 m IPO

Tuesday, 14 December 2021 01:13 - - {{hitsCtrl.values.hits}}

Kapruka Founder and CEO Dulith Herath

The Colombo Stock Exchange (CSE) has approved, in principle, the Rs. 505.5 million worth Initial Public Offering (IPO) by e-commerce specialist Kapruka Holdings Ltd.

The approval is for the listing of ordinary voting shares by way of an offer for subscription on the Main Board or Diri Savi Board of the CSE.

Kapruka is offering 20% stake or 32.826 million shares at Rs. 15.40 each.

The official opening of the IPO is 22 December, whilst it can be subscribed from today.

Managers to the issue is Acuity Partners Ltd.

The Company plans to use the IPO proceeds to fund its expansion growth plans, which include upgrading existing technology and infrastructure, alongside launching various Kapruka Platform Services, to carry forward new initiatives.

Kapruka.com is Sri Lanka’s first and largest locally owned e-commerce enterprise, founded in 2002 by Dulith Herath. Since then, it has grown into a multi-billion-rupee enterprise. The organic growth of Kapruka to date is a unique attribute of its strong business model.