Business
Hela Apparel Holdings IPO opens today
The much-awaited IPO of Hela Apparel Holdings Limited (the holding company of the Hela Clothing Group) opens today, 12th January 2022.
Aiming to raise LKR 4 Billion in equity capital through the issue of 267,108,998 ordinary voting shares at a price of LKR 15 per share, Hela’s IPO is the largest by value in over a decade. Managed jointly by CT CLSA and CAL, the issue will see a 20% stake in the company offered to the public, giving Hela Apparel Holdings Limited an initial projected market capitalization of LKR 19.5 billion. Investors can seamlessly and conveniently make an online application and access the company’s prospectus and other IPO related documents through the dedicated IPO microsite available at https://ipo.helaclothing.com/.
Announcing the opening of the IPO, Dilanka Jinadasa – Group CEO at Hela Apparel Holdings said, “We are pleasantly surprised by the interest levels we experienced with our IPO. With our aim of always challenging the status quo, we are honoured to be pioneering the listing of an apparel entity on the Colombo Stock Exchange. We look forward to welcoming all our new investors onboard and continuing this exciting journey together, upon the conclusion of our IPO.”
The proceeds of the IPO will go towards funding Hela’s ambitious plans for growth, focusing on leveraging technology and securing the company’s supply chain. Accordingly, Hela intends to channel LKR 1 billion towards supply chain security through an investment in a fabric mill; LKR 0.6 billion towards beefing up its core digital systems through the implementation of a comprehensive SAP ERP system; and LKR 2 billion towards balance sheet strengthening by settling existing debt in order to support further borrowing and expansion overseas. LKR 0.4 billion has also been allocated towards automation to improve productivity.
Business
Ceylinco Life agent among three global finalists for award
Ceylinco Life’s Ambalantota branch agent AIP Manjula has been named one of three global finalists for the prestigious Insurance Agent of the Year award at the 11th Asia Trusted Life Agents & Advisers Awards (ATLAA) 2026.
The recognition places a Sri Lankan insurance professional among the finalists in a regional field spanning South Asia, Southeast Asia, East Asia and the wider Asia-Pacific region.
Ceylinco Life said the achievement reflected the calibre and customer-focused approach of its agency force, while recognising Manjula’s professionalism and commitment to policyholders.
The award evaluates insurance agents on criteria extending beyond sales performance, including ethical conduct, client service, policy persistency, digital adoption, innovative practices and contributions to the insurance industry and community.
The awards are organised by Asia Advisers Network and Asia Insurance Review, with LIMRA as co-organiser. An independent judging and balloting process is monitored by KPMG as the official scrutineer. The judging panel comprises senior insurance executives, association presidents and industry experts from across the Asia-Pacific region.
Business
CEAT Kelani retains AA+ rating for sixth year
CEAT Kelani Holdings (CKH) has retained its National Long-Term Rating of ‘AA+(lka)’ with a Stable Outlook from Fitch Ratings for the sixth consecutive year, reflecting the company’s financial resilience and leading position in Sri Lanka’s pneumatic tyre market.
The ‘AA+(lka)’ rating, the second-highest on Fitch’s national scale, indicates a very strong capacity to meet financial commitments.
Fitch said CKH’s established market leadership and resilient financial profile remained key strengths, while noting its exposure to price-sensitive, cyclical and highly competitive markets.
The Stable Outlook reflects expectations that the company will maintain its market position despite rising input costs and increasing competition from imported tyres, while preserving adequate credit metrics during periods of weaker earnings and higher investment.
Fitch expects CKH’s established brand, extensive dealer network and adaptive pricing strategies to support its market position. Planned production facility upgrades are also expected to improve product quality, particularly in the radial tyre segment.
The rating agency expects near-term pressure on margins from higher raw material and energy costs but said the company’s low leverage and sound liquidity would provide a cushion.
CKH Chairman Chanaka De Silva said the rating reinforced the company’s focus on disciplined financial management, operational adaptability and long-term investment.
Business
SLT-MOBITEL Enterprise launches Premium Cloud
SLT-MOBITEL Enterprise, the enterprise services arm of Sri Lanka Telecom PLC, has launched its Premium Cloud service powered by Nutanix, aimed at helping Sri Lankan businesses modernise their IT infrastructure and accelerate digital transformation.
The service was unveiled at the Lanka Tech Summit 2026 held recently at ITC Ratnadipa, Colombo.
The Premium Cloud combines hybrid multi-cloud capabilities with enterprise-grade performance, enabling businesses to run mission-critical workloads, scale cloud deployments and strengthen business continuity through disaster recovery capabilities.
Hosted on SLT-MOBITEL’s Tier III data centre infrastructure, the platform is designed to provide enhanced security, reliability and flexibility while supporting the growing technology requirements of enterprises.
SLT-MOBITEL Enterprise said the platform would also support organisations seeking to adopt AI-ready capabilities and improve the management and performance of IT workloads.
A key feature of the launch was SLT-MOBITEL Enterprise joining the Nutanix Elevate Service Provider Program (NESPP), which the company said made it the first service provider in the region to join the programme.
Powered by Nutanix’s hybrid multicloud platform, the service enables application and data mobility across on-premises environments, public clouds and edge locations.
The company said the partnership combined Nutanix’s cloud technology with SLT-MOBITEL’s local expertise and support, strengthening its multi-cloud portfolio.
-
News4 days agoMastermind Naufer Moulavi among 15 found guilty
-
News6 days agoHatton youth protest against reported death sentence for Lankan in Saudi Arabia
-
News5 days agoProtest against setting up of cement factory in highly populated area near BIA
-
News6 days agoMahaweli rises as heavy rain triggers flood, landslide fears
-
Latest News7 days agoLandslide Red Alerts issued to the districts of Kandy, Kegalle and Nuwara Eliya
-
Midweek Review4 days agoThileepan’s fast unto death: An authentic narrative that many missed
-
Editorial4 days agoBig Bad Bills
-
Editorial5 days agoTrouble beginning in earnest
