Debug exits WindForce

Founder shareholder Debug Investments has exited WindForce PLC with several high-net-worth investors including H.M. Udeshi picking up quantities.

Debug in a filing to the Colombo Stock Exchange said it sold 35 million shares at Rs. 19 each in a deal worth Rs. 665 million.

Debug Investments Ltd., as at 30 June 2023 held 46.4 million shares or 3.43% stake in WindForce PLC.

Akbar Brothers hold 36.5% stake followed by Hirdaramani Ltd., 20.67%.

In June last year Debug held 82.7 million shares of 6% stake in WindForce.

In April this year it sold 5 million shares at Rs. 17.50 each whilst in September last year it divested 2.8 million shares at Rs. 18 each preceded by 7 million shares at Rs. 17.60 in August and 29.4 million shares at Rs. 15.70 in June last year.

At the time of the WindForce IPO, Debut held 164 million shares or 14.3% stake.