High demand for WindForce IPO; oversubscribed on the first day

March, 24, 2021

WindForce Limited announced that its Rs.3.2 Bn Initial Public Offering (IPO) was oversubscribed on its opening day 

WindForce, Sri Lanka’s largest and most diversified renewable energy company, launched its highly-anticipated Initial Public Offering (IPO) for subscription on today (24th March 2021), with the aim to raise Rs. 3.2 Bn, and was oversubscribed within hours on the first day itself.

As the largest IPO on the Colombo Stock Exchange (CSE) in 9 years, there was a high demand for the IPO amongst investors keen to be part of the success story of the largest Independent Power Producer in Sri Lanka - with 27 power plants in Sri Lanka and overseas, as it charts greater growth and expansion.

WindForce enjoys a [SL] AA- (stable) credit rating by ICRA Lanka, which is the highest rating given to a corporate in Sri Lanka at the time of the issuance by ICRA Lanka Limited. The Joint Managers and Financial Advisors to the issue are CT CLSA Capital (Pvt) Limited and Capital Alliance Partners Limited.

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