Trading of shares of Janashakthi Limited commenced on the secondary market of the Colombo Stock Exchange (CSE) this morning (29), following its successful Initial Public Offering (IPO).

To mark the occasion, a ceremonial market opening bell ringing event was held at the CSE. The event was attended by the founder of the Janashakthi Group, Chandra Schaffter, along with members of the company’s Board of Directors, senior management, and CSE officials.

Senior leadership of JXG (Janashakthi Group) rang the opening bell, celebrating the successful conclusion of its IPO and its official market debut. Shares of JXG commenced trading on the Main Board of the CSE, signifying a key milestone in the Group’s corporate journey.

Janashakthi Limited raised Rs. 5 billion through its IPO by issuing 500 million shares at a price of Rs. 10 each. The offering was met with strong investor demand and was oversubscribed on the very first day, prompting an early closure. The company later revealed that applications received were approximately three times the number of shares offered.

According to the CSE’s Listings Division, a total of 2.3 billion ordinary voting shares of Janashakthi Limited, including those issued via the IPO, have been listed on the Main Board.

In today’s secondary market trading, the shares, initially issued at Rs. 10, were seen trading in the range of Rs. 13.60 to Rs. 15.50.

Keynote speaker at the market opening ceremony, Mr. Chandan de Silva, Group Chairman – JXG (Janashakthi Group) said, “The three times oversubscription of the largest IPO in the last fourteen years at a time of significant economic and financial uncertainty, is a strong indication of investor trust and confidence in JXG’s brand, which in turn is based on sound governance, strategy and the ability to execute. As we enter the stock market, we are committed to expanding our impact and contributing meaningfully to the evolution of Sri Lanka’s financial landscape.”

Speaking on the listing, Mr. Ramesh Schaffter, Managing Director / Group CEO – JXG (Janashakthi Group) commented, “This milestone reflects not only a successful listing, but also the strength and resilience of our team in navigating a complex market environment. We are grateful for the confidence placed in us by our investors and the public, which strengthens our responsibility as a listed entity. Our focus now is on executing our strategies to scale our businesses responsibly and delivering sustained value to our shareholders and stakeholders alike.”

Mr. Rajeeva Bandaranaike, CEO of CSE, speaking at the opening ceremony also remarked: “Janashakthi Limited lists it shares today following a Rs. 5 Bn IPO which was oversubscribed by three times and was the largest IPO we have had for the last 14 years.”

Janashakthi Group, a well-established diversified financial services conglomerate, is the parent company of Janashakthi Insurance PLC, First Capital Holdings PLC, and Janashakthi Finance PLC.