The Colombo Stock Exchange has given, in principle, approval for Sarvodaya Development Finance Ltd.’s (SDF) Rs. 1 billion Initial Public Offering (IPO). 

SDF will issue 22.727 million shares at Rs. 22 each with an option issue a further 22.727 million shares at the same price in the event of an oversubscription of the original amount. 

CSE said it has approved the listing of SDF shares by way of an offer for subscription on the Main Board or Diri Savi Board as applicable. 

The official opening of the SDF IPO is 23 November whilst it will be available for subscription from 28 October onwards.

Financial advisors and managers to the IPO is NDB Investment Bank Ltd.

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