Sarvodaya Development Finance debuts on CSE today

After a sought-after IPO that was oversubscribed within hours on the opening day, shares of Sarvodaya Development Finance Ltd. will be listed and commence trading on the main board of the Colombo Stock Exchange (CSE) today.

A total of 149,596,052 ordinary voting shares will be listed under the ticker symbol SDF.N and the company will be categorised under the ‘Consumer Finance – 4020’ sector. 

Managed by NDBIB Bank, Sarvodaya Development Finance’s IPO successfully raised Rs. 1 billion through offering a stake of 30.38% (45 million shares) of the company to the public at Rs. 22 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 1958-established Sarvodaya Movement one of the oldest NGOs in Sri Lanka.