Connect with us

Business

LTL Holdings announces the largest IPO to take place on Colombo Stock Exchange

Published

on

LTL Holdings Limited, Sri Lanka’s leading fully integrated power sector conglomerate announces its IPO at the Cinnamon Grand Colombo on 3rd Sep. 2024

An opportunity for the public to buy shares of the fully integrated power sector conglomerate

Existing shareholders include CEB, West Coast Power, Teckpro Investment and Peradev

Future pipeline includes lucrative businesses in the power sector

LTL Holdings Limited, Sri Lanka’s leading fully integrated power sector conglomerate which has a 40-year track record, announced on 3rd Sep 2024, its plans to launch an Initial Public Offering (IPO) and be listed on the Colombo Stock Exchange (CSE), making this the largest IPO to take place on the CSE.

The IPO is an offer for subscription of up to 1,379,310,400 new ordinary voting shares at an issue price of LKR 14.50 per share via an initial issue of LKR 16 billion, with a greenshoe option to increase the total to

LKR 20 billion through the IPO, offering a stake of up to 22.3% of LTL to the Public. The IPO opens on September 10, 2024, and applications for the subscription of shares are now accepted.

Out of the IPO proceeds, LKR 13.5 Bn will be utilized to part finance the equity investment towards the construction of a 350 MW combined cycle power plant in Kerawalapitiya (Sahasdhanavi Ltd), which would be the second power plant to operate on LNG in Sri Lanka and LKR 6.0 billion will be allocated towards investing in a 50% equity stake in the 100 MW Siyambalanduwa Solar Power Project (Rividhanavi (Pvt) Ltd).

LTL operates across multiple sectors, including power generation, engineering services for power plants as an EPC (Engineering, Procurement and Construction) and O&M (Operations and Maintenance) contractor, manufacturing of power distribution equipment, and heavy engineering. With a strong focus on cleaner energy investments, the IPO represents an important milestone in the company’s growth strategy. LTL is set to embark on new ventures in clean energy while reinforcing its position as a leading player in Sri Lanka’s energy sector.

With 894 MW of existing power generation capacity in Sri Lanka, Bangladesh and Nepal and over 450 MW in secured pipeline projects, LTL is on track to become the first Independent Power Producer (IPP) in Sri Lanka to have an installed capacity of over 1,000 MW, positioning the Company as the largest listed IPP on the CSE.

In addition, LTL boasts a significant market leadership position in transformer manufacturing and galvanizing operations, with a strong export footprint in over 30 countries including a well-established international presence in South Asia and Africa. LTL, through its Indian subsidiary company is also engaged in the manufacturing of switchgear products required by power utilities in the domestic Indian market and other Asian, Middle East and African countries.

The Company’s future pipeline includes power generation projects, expansion of manufacturing facilities in overseas markets, and exploration of upstream opportunities in LNG infrastructure.

The Company’s existing shareholders include the Ceylon Electricity Board (CEB), West Coast Power (Pvt) Ltd, Teckpro Investment Limited and Peradev Limited and LTL’s Board of Directors features experienced members from diverse fields.

LTL’s operations are characterized by strong financial performance backed by significant technical expertise. LTL recorded Rs. 59.8 Bn Consolidated Revenue which translated to a Profit after Tax of Rs. 5.8 Bn for the latest financial year ended 31st March 2024, where 70% of revenue was foreign currency-linked. Total Group Assets and Total Group Equity of LTL stood at Rs. 133.6 Bn and Rs. 74.4 Bn, respectively as at 31st March 2024. LTL has achieved a 5-year average profit after tax margin (PAT margin) of 35% and 5-year average return on equity (ROE) of 27% during FY2020 to FY2024. The Company’s financial performance is expected to further increase with the commissioning of the 350MW Sobadhanavi power plant in Kerewalapitiya.  As a fully integrated player across the power sector value chain, LTL is well-positioned to capitalize on emerging energy trends in Sri Lanka and overseas.

The IPO is jointly managed by NDB Investment Bank Limited and CT CLSA Capital (Private) Limited. F J & G de Saram is the Lawyers to the Issue, SSP Corporate Services (Private) Limited is the Registrars to the Issue and Hatton National Bank PLC and Sampath Bank PLC are acting as the Bankers to the Issue.

For information and to invest in the IPO, visit www.ltl.lk/ipo/.



Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

SLT-MOBITEL driving Sri Lanka’s economic resilience through digital infrastructure

Published

on

SLT-MOBITEL marks its triple triumph at the National Business Excellence Awards 2026

Corporate accolades underscore the alignment between its operational excellence and national development

In an era where national competitiveness is intrinsically tied to digital connectivity, strengthening the country’s digital backbone has become an urgent priority. Within this context, the evolving role of Sri Lanka’s leading telecommunications provider, SLT-MOBITEL, offers valuable insight into how technological infrastructure can underpin broader economic resilience.

Telecommunications and digital networks are foundational to economic transformation. By expanding high-speed broadband access, upgrading enterprise cloud capabilities, and bridging the urban-rural connectivity divide, SLT-MOBITEL helps reduce business transaction costs, streamline supply chains, and enable micro, small, and medium enterprises to reach global markets.

Recent corporate accolades further underscore this alignment between operational excellence and national development. SLT-MOBITEL’s triple triumph at the National Business Excellence Awards 2026 – winning in the Infrastructure and Utilities sector, Performance Management, and ICT Services categories – highlights its growing impact. Notably, the recognition of eChannelling’s contributions to digital healthcare reflects a broader strategic pivot toward integrated technology solutions.

“Institutional efficiency of this nature is critical for attracting foreign direct investment, as global partners increasingly assess a country’s digital maturity and systemic stability before committing capital,” noted industry observers.

Moreover, the company’s transition from a conventional telecom utility to a comprehensive digital solutions provider aligns seamlessly with Sri Lanka’s national digitalisation agenda. As the country pursues public sector modernisation, enhanced e-governance, and a competitive knowledge economy, the private sector must step up to deliver secure, scalable, and future-ready networks. Investments in data centres, cybersecurity frameworks, and advanced ICT infrastructure act as strategic buffers, ensuring that Sri Lanka’s economic apparatus remains agile and resilient amid future global uncertainties.

However, industry experts caution that while these achievements are commendable, SLT-MOBITEL still has a considerable distance to cover in fully enabling a truly digital economy.

Continue Reading

Business

Port City Colombo strengthens Gulf investment ties at Dubai diplomatic engagement

Published

on

The panel discussion at the engagement

Port City Colombo (PCC) took a prominent role as Platinum Sponsor at the second edition of Sri Lanka Beyond Your Dreams, a high-level diplomatic and investment engagement hosted by the Consulate General of Sri Lanka in Dubai and the Northern Emirates. The event, held on 2nd September 2026 at the Hilton Dubai Al Habtoor City, brought together over 400 senior UAE-based business leaders, investors, diplomats, and institutional stakeholders, alongside Sri Lanka’s most senior government representatives.

The gathering was graced by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, as Guest of Honour, and Vijitha Herath, Sri Lanka’s Minister of Foreign Affairs, Foreign Employment and Tourism. A high-level Sri Lankan delegation – including the Secretary to the Prime Minister, the Chairman of the Board of Investment, the Chairman of the Export Development Board, and the Director General of Commerce – underscored the government’s strong commitment to deepening economic diplomacy with the UAE.

In his keynote address, Minister Herath reaffirmed the centuries-old ties between Sri Lanka and the Arab region, emphasising the UAE’s vital role as a key economic partner. He stressed the urgency of finalising a Comprehensive Economic Partnership Agreement (CEPA) with the UAE, which would establish a robust framework to elevate trade, investment, and bilateral cooperation. Declaring Sri Lanka “open and ready for business,” he positioned Port City Colombo as the physical embodiment of this economic mission – a modern Special Economic Zone (SEZ) with a dedicated legal framework and competitive incentives, offering UAE investors a natural gateway to South Asia while maintaining strong Gulf connectivity.

Continue Reading

Business

American Premium Water strikes Gold at Dragons of Sri Lanka 2026

Published

on

The achievements are particularly significant given that the company’s debut at the Dragons awards has resulted in four Dragons across four categories.

American Premium Water has secured four wins at Dragons of Sri Lanka Awards 2026, including three Gold Dragons and one Black Dragon, marking a significant milestone for the brand following its relaunch last year.

Part of the prestigious Dragons of Asia awards, Dragons of Sri Lanka brings the program’s regional platform to the local market, celebrating creative and effective marketing communications, with entries evaluated on strategic thinking, creativity, execution and impact. Established in 2000, Dragons of Asia is one of Asia’s premier results-driven marketing awards programs.

For American Premium Water, the achievements are particularly significant given that the company’s debut at the Dragons awards has resulted in four Dragons across four categories. In the distinction of Gold Dragons, American Premium Water was recognized across three categories including Product Launch or Re Launch, Cause, Environment or Sustainability and Creative Excellence while the Black Dragon was awarded in recognition of Small Budget.

Competing alongside leading brands and agencies in Sri Lanka, American Premium Water’s four wins demonstrate the strength and effectiveness of its recent work. Winning three Gold Dragons across three distinct categories highlights the breadth of the brand’s achievements, while the Black Dragon for Small Budget further emphasizes its ability to create meaningful impact through focused and efficient investment.

Continue Reading

Trending