Business
Windforce’s Rs.3.2 billion IPO oversubscribed eight times
By Hiran H. Senewiratne
Windforce Ltd.’s Initial Public Offering (IPO) worth Rs. 3.2 billion, the biggest in nine years, has seen an over-subscription of eight times, triggering a demand worth nearly Rs. 26 billion, preliminary figures indicate.
The company hasn’t formally revealed the final over-subscription amount but the capital market was abuzz about the success of the IPO over the weekend, informed sources said.
1,700 applications requested for shares worth Rs. 25.7 billion, which was believed to be an over-subscription of eight times, which has positively impacted the stock market, market analysts said.According to stockbrokers, Sri Lanka’s biggest and fastest growing producer of renewable energy, Windforce IPO offered a 15 percent stake or 202,615,341 new ordinary voting shares of par value of Rs. 10 at Rs. 16 each. The previous biggest IPO in recent years was that of People’s Leasing (PLC) worth Rs. 7 billion in 2012.The issue officially opened on March 24 and was closed the same day. It had been available for subscription since March 2. Brokers to the issue were CT CLSA Holdings and Capital Alliance while several other brokers recommended the IPO to investors, given the company’s performance and future outlook as well as the growing demand for and reliance on renewable energy locally and globally.
Amid those positive signals, the CSE, during the first half an hour yesterday was a bit negative but thereafter the market became green and showed some bullish trend at the end of the day, stock market analysts said.
According to stock market analysts, overall the market was bullish. Buying interest was visible especially for banking sector counters, mainly for HNB (voting and non voting), Sampath Bank, Commercial Bank and several listed banks.
Both indices moved upwards. The All Share Price Index went up by 30.30 points and S and P SL20 rose by 19.28 points. The turnover stood at Rs. 2.18 billion with four crossings. Those crossings were reported in HNB (Voting), 4.3 million shares crossed to the tune of Rs. 561 million, its shares traded at Rs. 128, Commercial Bank 5.4 million shares crossed for Rs. 480 million, its shares traded at Rs. 88, JKH 177,000 shares crossed for Rs. 26.4 million, its shares fetching Rs. 149.25 and HNB (Non Voting) 219,000 shares crossed for Rs. 21.9 million, its shares traded at Rs. 100.
In the retail market top five companies that mainly contributed to the turnover were HNB (Non Voting) Rs. 133 million (1.3 million shares traded), Expolanka Rs. 131 million (2.9 million shares traded), JKH Rs. 120 million (808,000 shares traded), Dipped Products Rs. 105 million (2.2 million shares traded), Browns Investments Rs. 87.9 million (15.8 million shares traded) and Sampath Bank Rs. 69.5 million (1.2 million shares traded).During the day 58.1 million share volumes changed hands in 11842 transactions.
Top contributors to the All Share Price Index were Ceylinco Insurance 6.28 points, Commercial Bank 5.54 points, Aitken Spence 2.79 points, Expolanka 2.69 points.
Sri Lanka’s rupee quoted weaker at 199.50/200 to the one week US dollar on Monday, while yields remained unchanged in a dull market ahead of the 60 billion bond auction, dealers said. The rupee last closed in the one-week forward market at 199.25/75 to the US dollar on Friday.
Business
SLEIS 2026 to examine Sri Lanka’s energy transition and its implications
Reliable and affordable energy is essential to Sri Lanka’s economic growth, industrial development and competitiveness. As the country seeks to strengthen energy security while reducing its dependence on fossil fuels, the energy sector will be a key area of discussion at the Sri Lanka Economic & Investment Summit 2026, organised by The Ceylon Chamber of Commerce on 12-13 October 2026.
The session, “Beyond Fossil Dependence: Balancing Security, Sustainability, and Growth,” will examine how Sri Lanka can diversify its energy sources, accelerate renewable energy adoption and attract investment while ensuring a reliable energy supply for businesses and households. Discussions will also consider the infrastructure and policy frameworks needed to support the country’s transition towards a modern and competitive energy system.
Ms. Edore Onomakpome – Regional Infrastructure Industry Manager – Bangladesh, Sri Lanka and Nepal, at the International Finance Corporation will keynote the session, and join the panel discussion featuring G.M.R.D. Aponsu – Secretary to the Ministry of Energy, Damitha Kumarasinghe – Director General (Chief Executive Officer), Public Utilities Commission of Sri Lanka, and Manjula Perera – Managing Director, WindForce PLC. The discussion will be moderated by Sheran Fernando – Senior Advisor, Plus94.
The session will also explore the role of public-private collaboration in developing new energy solutions, encouraging investment and creating opportunities within Sri Lanka’s evolving energy sector. It will consider how energy policy and investment decisions can support both economic expansion and the country’s longer-term sustainability objectives.
The Sri Lanka Economic & Investment Summit 2026 is supported by its valued sponsors and partners. Platinum Sponsor – Standard Chartered Bank Sri Lanka, Gold Sponsor – VISA Worldwide (Pvt) Ltd., Bronze Sponsor – South Asia Gateway Terminals (Pvt) Ltd., Strategic Development Partner – Asian Development Bank, Telecommunication Partner – Dialog Telecommunication, Television Partner – Dialog Television, Session Sponsors – David Pieris Motor Company (Pvt) Ltd., Hemas Holdings PLC, Sunshine Holdings PLC, International Construction Consortium (Pvt) Ltd., Official Logistics Partner – Hayleys Advantis Limited, Official Airline – SriLankan Airlines Ltd., Official Hospitality Partner – Shangri-La Colombo, Airline Partner – China Eastern Air Holding Co. Ltd.
Registrations are now open at https://sleis.chamber.lk/. For more information, contact Alikie on 011 558 8805 (alikie@chamber.lk) or Shanuka on 0701082541 (events.division@chamber.lk).
Business
A fresh chapter for the George Keyt Foundation: A renewed commitment to the Sri Lankan art ecosystem
The George Keyt Foundation (GKF), dedicated to preserving the legacy of modernist painter George Keyt and fostering local art, has announced strategic appointments to its leadership team, bringing together a mix of global academic expertise, corporate leadership, and artistic passion. These enhancements aim to inject fresh expertise and academic depth into the Foundation’s long-term vision.
Establishment of the New Advisory Committee
To broaden its operational reach and deepen its engagement with the global art market, the George Keyt Foundation has established an Advisory Committee. The newly appointed committee members include:
• Dr Sujatha Meegama is a Senior Lecturer in Buddhist Art History at the Courtauld. She is an acclaimed art historian, author and academic, bringing specialised knowledge in South Asian art history to guide the foundation’s curatorial and educational directives.
• Dr Shamil Wanigaratne: A clinical psychologist, author, and avid art historian, Shamil will lend his unique perspective to help the foundation design meaningful public outreach and cultural preservation strategies.
• Abbas Esufally: A veteran corporate leader and patron of the arts, Abbas is transitioning from his role as a GKF Trustee to this advisory position, where he will continue to offer his sharp business acumen and extensive network.
New Trustee Appointment
Leesha Captain has been appointed to the Board of Trustees. Inspired by Sri Lankan artists, Leesha is a recognised supporter of the local art scene. Leesha’s hands-on perspective will strengthen the foundation’s core team as they develop and design new art programs.
A Vision for the Future
“These new appointments mark an exciting chapter for us as we build on our decades-long history of promoting Sri Lankan artists,” says Malaka Talwatte, Chairman of the Foundation. “The combination of Leesha on the board, alongside the diverse expertise of our new Advisory Committee, will significantly amplify our efforts in curating high-profile exhibitions and expanding local and international partnerships”.
Business
Sun Siyam Pasikudah celebrates World Tourism Day with culture, cuisine and community
Sun Siyam Pasikudah, part of the Privé Collection under Maldivian-owned Sun Siyam Resorts, will mark World Tourism Day on 27 September 2026 with a full day programme celebrating the culture, cuisine and natural beauty of Sri Lanka’s east coast, paired with community focused sustainability activities.
The celebrations open with a special buffet of authentic Sri Lankan cuisine, followed by a street food festival showcasing regional snacks and traditional sweets rarely found on resort menus. A signature World Tourism Day mocktail and cocktail, created for the occasion, will be served through the day, while traditional Sri Lankan cultural dance performances bring the island’s heritage to life for guests.
Beyond the festivities, the resort has planned a tree planting activity with guests and a beach or park clean up campaign, both reflecting Sun Siyam Pasikudah’s ongoing commitment to responsible tourism along Sri Lanka’s northeast coast.
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