Business
hSenid to be first Enterprise Software Company to IPO on CSE
Sri Lankan global HR software solutions provider, hSenid Business Solutions, successfully concluded its investor forum, ahead of its IPO, which is due to open on the 3rd of December 2021. The event showcased the great strides made by hSenidBiz having penetrated the global market for Human Capital Management (HCM) software while presenting the investment case to potential investors. The event attracted participation from a wide array of local and foreign investors representing both individual and institutional segments. The Q&A session that followed witnessed active engagement where participants clarified their questions directly with key decision makers and stakeholders at hSenidBiz.
Discussing the outcome of the investor forum, Dinesh Saparamadu – Director/Chairman at hSenid Business Solutions said, “The outcome of our investor forum is overwhelmingly positive. It was a pleasure to be able to directly interact with prospective investors and industry specialists. We were able to answer all their questions and address their concerns. Coming away from the event, we are confident of receiving broad-based interest in our IPO and look forward to the opening day. We thank all those who attended the event, and pledge to continue delivering exceptional value to all stakeholders as we seek to play an even bigger role in Sri Lanka’s growth story.”
Under the guidance of NDB Investment Bank, Lead Managers to the Issue, and CT CLSA Capital, Co-Managers to the Issue, hSenid Business Solutions Limited will offer 55,339,076 ordinary non-voting shares to the public at a price of LKR 12.50 per share, seeking to raise a total of approximately LKR 692 Million in equity capital. These funds are to be channelled toward product development and market development, along with strategic acquisitions in the APAC and East Africa regions. Over the past 5 years, hSenidBiz has demonstrated robust growth in PAT, combined with healthy margins and exceptional performance across all fundamental indicators.
Commenting on the company’s journey thus far, Saparamadu added, “We started hSenidBiz with just three people out of a small room at Ward Place. From day one, I was determined to build HR solutions for global markets. Today, as an indigenous multinational, we are committed to doing our part in developing the local tech industry. I wish to ensure that while our company grows, we also divert resources to upskill local tech professionals and help start-ups get off the ground. As a key player in Sri Lanka’s IT/BPM sector, we are proud to be able to support the nation’s growth trajectory through our net positive forex flows, while also helping to increase awareness about and access to foreign markets for Sri Lankan IT/BPM companies.”
Adding to this, Sampath Jayasundara, CEO/Director of hSenid Business Solutions, mentioned, “Heading in for the IPO is an exciting milestone for all stakeholders of hSenidBiz. This has not been a journey of just a few individuals but an entire network of dedicated employees, partners, customers, advisors and our shareholders. We were fortunate to have worked with big local and global corporations as it gave us unique insights into HR practices and helped us develop innovative solutions that can be scaled globally. From the team point of view, it has been a great strength to have the right people from consulting to engineering, to build a global solution. This has definitely been a stepping-stone to benchmark our products with leading international brands and added new features based on unique customer requirements and considering different industries and geographical contexts.”
Our global expansion across 40+ countries would have been mere to impossible without our global partner network. While, we thank all who have stood with us in this journey, we eagerly look forward to the new opportunities this IPO holds for the future of hSenidBiz. We strongly believe that we have a tremendous opportunity to build a global HR solutions brand that can tweak world-class solutions for different contexts and needs, and we believe we can take the lead in APAC and African regions.”
Founded in 1997, hSenidBiz is today a global Sri Lankan software solutions company, specializing in state-of-the-art HR solutions. hSenidBiz software is used by 1,000,000 users across 1,300 local and global giants among 20 diversified industries in over 40 countries and multiple business sectors, with a strong presence in Asia Pacific and Africa. hSenidBiz presently employs over 250 people and has contributed towards over 4,000 individual tech journeys during its 25-year history. hSenidBiz alumni have gone on to achieve great things and build successful careers in tech across Sri Lanka, Australia and the UK. Founded in 1997, hSenidBiz
Company stresses ambition to surpass this milestone
Eyes markets across Africa and beyond
In a groundbreaking achievement for Sri Lanka’s IT and electronics manufacturing industry, EWIS Colombo Ltd, the country’s first and only local computer manufacturer, has successfully exported its first consignment of locally built laptops to Zimbabwe.
This landmark event not only positions Sri Lanka as an emerging force in global IT hardware manufacturing but also highlights EWIS’s commitment to innovation, quality, and excellence on the international stage.
This historic shipment, dispatched from EWIS’s state-of-the-art manufacturing facility in Samajasewapura, Sooriyawewa, underscores the company’s dedication to delivering world-class technology solutions. With over 11 years of expertise in manufacturing and assembly, EWIS Colombo Ltd has played a pivotal role in driving Sri Lanka’s ICT sector forward. As a Board of Investment (BOI) Section 17-approved company, EWIS has established the country’s first and only local computer manufacturing plant, paving the way for the nation’s growth in high-tech exports.
Speaking on this momentous achievement, Sanjeewa Wickramanayake, Chairman of EWIS Colombo Ltd, said: “This milestone is not just for EWIS but for Sri Lanka as a whole. It proves that our country has the talent, capability, and ambition to manufacture and export high-quality IT products, competing confidently on the global stage. As we continue expanding beyond local markets, we take immense pride in showcasing Sri Lanka’s excellence in technology and innovation to the world. EWIS’s commitment to world-class quality is reinforced by its ISO 9001:2015, ISO 14001:2015, CE, FCC, and RoHS certifications, ensuring compliance with international quality, safety, and environmental standards.”
Speaking further he said:
“For nearly four decades, EWIS has been a trailblazer in Sri Lanka’s ICT sector, delivering cutting-edge solutions for education, businesses, and government enterprises.
With over 11 years of local manufacturing and assembly expertise, EWIS has continuously refined its capabilities to produce high-quality, internationally competitive IT hardware. The successful export to Zimbabwe represents a bold step toward expanding EWIS’s global footprint, reinforcing Sri Lanka’s potential as a world-class technology and manufacturing hub.”
Dialog Television, Sri Lanka’s #1 Pay-TV service provider, has partnered with Emerging Media to enhance the convenience and effectiveness of advertising. This collaboration brings together Dialog Television’s world-class entertainment, featuring 18 advertisable channels across genres such as movies, edutainment, kids, music, sports, and local content, with Emerging Media’s expertise in digital advertising and targeted marketing. This synergy creates a seamless platform for businesses to maximize brand exposure across multiple channels.
With a reach of over 1.7 million households, Dialog Television provides advertisers with a powerful avenue to engage diverse audiences. Brands can place advertisements on leading international and local channels such as &flix, Star Movies, TLC, Animal Planet, AXN, Zee Café, Comedy Central, Star Plus, A+, Nickelodeon, Star Vijay, Zee Tamil, Star Sports, Ten Cricket, Sony SIX, ThePapare TV, Channel One, Citi Hitz and Channel C. Through this partnership, Emerging Media will facilitate advertising sales, allowing businesses to target specific viewer segments while simplifying the media buying process with a single point of contact.
Commenting on the partnership, Lim Li San, Group Chief Operating Officer at Dialog Axiata PLC, stated, “As Sri Lanka’s premier Pay-TV service provider, we serve more than 1.7 million households with over 6 million pairs of captive eyeballs across Sri Lanka. Today, we are excited to embark on this partnership with Emerging Media to avail our Dialog Television platform and brand strength to provide quality advertisement exposure and customer engagement to local businesses across Sri Lanka.”
The International Institute of Health Sciences (IIHS), a pioneer in healthcare training for over 23 years, has partnered with the University of Surrey, UK, to revolutionise healthcare education in Sri Lanka and the broader South Asian region. This will create a world-class academic pathway for aspiring nursing and healthcare professionals, as well as young individuals seeking careers in the field. Under this agreement, IIHS and the University of Surrey will introduce a series of academic initiatives to enhance healthcare training and accessibility.
These include delivering internationally recognised nursing programmes that allow Sri Lankan and regional students to earn globally competitive qualifications in Sri Lanka.
Commenting on the move, Dr. Kithsiri Edirisinghe, CEO & Dean of Undergraduate Studies at IIHS, said: “This MOU marks a significant step in our mission to deliver world-class healthcare education to Sri Lanka and the region. IIHS remains dedicated to shaping the future of healthcare professionals and fostering global healthcare leadership.” Dr. Shelini Surendran, Associate Dean (International) at the University of Surrey, emphasised: “Sri Lanka is establishing itself as a regional education hub, and this partnership ensures students across Asia can access top-tier UK healthcare education at IIHS. By bridging academic excellence with accessibility, we provide students with a clear pathway to their professional goals.”
Project to distribute smart boards for 1,000 schools with the goal of enhancing education has completely failed to meet its objectives and the investment of LKR 1.7 billion has been underutilized -PM
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