18 November 2021, Colombo: Sarvodaya Development Finance (SDF), the financial services arm of one of Sri Lanka’s oldest social movements, the Sarvodaya Shramadana Movement, recently concluded its Investor Forum. The event followed SDF’s announcement of its Initial Public Offering (IPO) proposition that is scheduled for the 23rd of November, and successfully acted as a way for investors and stakeholders to interact and have in-depth conversations about SDF’s commitment to creating equitable value for all stakeholders, with the ultimate goal of empowering individuals and enhancing livelihoods across the nation.
The Investor Forum allowed institutional investors, retail investors and those interested in Investing in Humanity to gain a clear understanding of SDF’s portfolio that is catered to the evolving needs of a diverse clientele, their commitment to the enhancement of national development, and their success story of being Sri Lanka’s Fastest Growing Development Finance Company.
Commenting on the conclusion of SDF’s Investor Forum, Chief Executive Officer, Nilantha Jayanetti stated, “We are overjoyed to have successfully concluded our Investor Forum, making a strong presentation for investment opportunities aimed at those who are striving towards societal, economic, and national development. Many valuable questions were raised by the attendees of the event, all of which were satisfactorily answered, leaving no doubt towards the authenticity and impact of an investment of this nature. Based on the feedback we received, we are confident that our IPO will receive wide-ranging interest from both local and foreign investors. On behalf of the entire management team at Sarvodaya Development Finance, I would like to encourage all those interested in being a catalyst in creating an economically progressive society to seize this opportunity and create equitable value for all stakeholders.”
Managed by NDB Investment Bank, Sarvodaya Development Finance will offer up to 45,454,546 ordinary voting shares at a price of Rs.22.00 per share, this presents an upside of 18 percent per share, resulting in a projected market capitalization of Rs.3.29 billion assuming full subscription at the Issue price. Offering the IPO enables potentially interested investors in society to contribute to SDF’s on-going work on developing rural villages, echoing the age-old Sarvodaya goal of working together to achieve societal benefits.
With a track record spanning over 5 decades, Sarvodaya Movement uplifts and empowers rural masses, has a strong brand presence and is a trusted name among Sri Lankans. Today, SDF has transformed into a young, tech-savvy financial services specialist providing a diverse product range, making affordable financing accessible to all.
