Business
Understanding the strategic value of listing on the Colombo Stock Exchange
Kanishka Munasinghe, Vice President of the Listing Division at the Colombo Stock Exchange (CSE), outlines the strategic value of listing on a stock exchange, detailing the role of the Listing Division, followed by the benefits for companies, the broader economic impact, and the essential considerations entities must assess before going public.
What is the Role of the Listing Division at the CSE?
The Listing Division of the Colombo Stock Exchange supports both potential and existing listed companies in raising debt and equity capital through a diverse range of products. The Division’s role includes the reviewing applications from prospective issuers and granting approval to those that meet the required criteria and comply with the applicable rules for listing on the CSE, whilst positioning the CSE as the most preferred platform for further capital raising by listed companies. The Listings Division also strives to grant approvals within the stipulated timelines, provided all documentation is submitted in compliance with the listing rules.
In reviewing the Initial Listing Applications of both potential and existing listed companies, the Listing division ensures that such companies have adhered to the applicable Rules of the CSE and the CSE Listing Framework, which maintain transparency and adequacy of disclosures made in offer documents (i.e. Prospectus, Introductory Document and Circular to Shareholders).
The CSE’s review process also includes an in-depth analysis of the potential issuer’s financial performance in the present operating history and a financial analysis conducted for a pre-defined future period. All listing applications are reviewed by a dedicated Listing Review Committee comprising several members of the CSE’s senior management, who are responsible for granting approval for listings.
Overall, the entire review process carried out by the CSE ensures that the potential issuer conducts the IPO, and the existing issuers carry out further issues of securities in line with the rules, regulations, and procedures of the CSE.
In addition to the above the Listing Division of the CSE also:
Advises listed companies, potential issuers, and investment banks on the listing of securities and the application of the CSE Listing Rules/Listing Framework.
Contributes to the formulation of policies and rules applicable to listed companies.
Supports the implementation of strategic initiatives which are of importance to listed companies and potential issuers.
Performs the related system entries to enable the listing of securities.
Could You Elaborate on the Key Advantages a Company Can Unlock by Accessing the Capital Market Through Listing on the Colombo Stock Exchange?
Listing allows companies to raise capital by issuing shares to the public through an Initial Public Offering (IPO) or further issue of shares, which encapsulate benefits not typically seen in traditional methods of funding such as borrowing. This helps companies in diversifying their funding avenues for various purposes.
The funds raised through IPOs can be used for purposes such as debt settlement, which in turn helps companies manage their gearing and debt exposure, and strengthens the balance sheet. The funds raised through a Stock Exchange can also be utilized for expansion and new business opportunities. Additionally, funds raised through an IPO can be used for any purpose without restrictions, provided the companies operate within the prevailing regulatory and legal parameters.
Listing typically requires companies to comply with corporate governance rules and regulations, which can improve transparency and accountability of a company. This, in turn, allows the company to attract strategic investors who may be looking to invest with a strong profile and sound governance practices.
Furthermore, listing provides companies with a greater opportunity for value creation and price discovery through secondary market trading. It also enhances corporate visibility and recognition, while improving the overall profile of the company in terms of business, systems, processes, and employment.
How Does Listing on a Stock Exchange Contribute to Broader Economic Development?
Listing allows companies to raise capital by offering shares to the public, which can be used for expansion, research and development, or new business opportunities. Such capital injection fuels economic growth by enabling companies to invest in infrastructure, technology, and job creation.
Listing attracts not only domestic investors but also foreign investors, allowing foreign funds to flow into the local market, where such inflows are pivotal for economic growth as it helps fuel local businesses.
Listing on a stock exchange requires companies to adhere to strict corporate governance and disclosure regulations, promoting transparency and accountability. This increases transparency and builds trust among investors and encourages long-term investment in the economy.
Listed companies and their new business ventures enable the creation of new job opportunities in various sectors, contributing to a larger and more skilled workforce. This helps address unemployment issues and leads to improved living standards for the population.
What Key Factors Should a Company Take into Account Before Listing?
Financial Stability of the Company: A company intending to list should review its financial statements to assess profitability, asset value, and debt levels with a view to meet the predefined listing criteria of the Stock Exchange. Such a review should primarily focus on consistent revenue growth, profitability, and asset valuation.
Market Conditions and Investor Sentiment: It is essential that a company thoroughly assesses market conditions to determine the right time to launch an IPO. In doing so, the company should have a clear understanding of investor sentiment, industry outlook, and other relevant factors.
IPO Pricing and Valuation: A company should determine a fair IPO price that reflects its true value and attracts investor interest. Various valuation techniques can be used to arrive at an appropriate price.
Existing Financial, Legal, or Governance Issues: Prior to listing, a company should carefully examine any prevailing / potential financial, legal, or governance issues that may adversely impact the success of the IPO or the sustainability of the business in a listed environment. This assessment will help the company achieve a smooth listing process.
Corporate Governance and Management: A strong corporate governance structure builds trust and transparency with investors. Before listing, a company should have a clear plan on how it intends to comply with the corporate governance practices prescribed by the Exchange.
Rules and Regulations of the Exchange: Before listing, a company must have a clear understanding of the rules, regulations and procedures it must comply at the time of listing, as well as those applicable on a continuous basis along with the applicable enforcement action. Such understanding will help companies reap the benefits of listing without any interruptions and limitations.
Shareholder Considerations: A company should analyze its existing ownership structure to understand who holds shares and their potential impact. It should also assess how shareholding may be diluted through an offer for sale or offer for subscription, while ensuring compliance with the applicable minimum public holding requirements.
Business
Mahindra Ideal Motors celebrates gala ‘Excellence Awards’ honouring outstanding performance and innovation
The Mahindra Ideal Motors Excellence Awards ceremony, a grand celebration to recognize dealers and other stakeholders of Ideal Motors, was held at the Wave n’ Lake Banquet Hall & Restaurant in Welisara recently.
The event was graced by the presence of special guests including Nalin Welgama, Founder and Chairman Ideal Motors, Dilani Yatawaka, Group Managing Director/CEO Ideal Motors, Nimisha Welgama, Director Legal and Corporate Affairs Ideal Motor, Sachin Arolka, Head International Operations, Auto Division Mahindra & Mahindra India. Senthil Selvaraju, Head International Operations and Customer Service Automotive Division Mahindra & Mahindra India, Sujeeth Jayant, Country Head Mahindra & Mahindra India and Shitam Kundu, Head Domestic Services Mahindra & Mahindra India.
Also, in attendance from Ideal Motors were Kasun Fernando, General Manager Commercial Vehicle Sales Division, Sameera Bamunuarachchi, Deputy General Manager Spare Parts, Logistics & Inventory and Prasanna Manamperi, Deputy General Manager After Seles Service.
Speaking at the event, Nalin Welgama Ideal Motors Founder and Chairman said, “When we began our journey with Mahindra in 2009, the previous company had sold 300 vehicles in the country, of which nearly 150 had various defects. At that time our journey began by engaging with the parent company in India and repairing those vehicles free of charge. That commitment has brought us to where we are today. As we believe, our journey truly begins after the sale. We are dedicated to strengthening our customers, and in doing so, strengthening ourselves. That is how we transformed the after-sales service experience.”
He added, “Our main strength is the Mahindra Bolero, which has sold more than 10,000 units in just two years. In a very short period, we grew from zero to over 100,000 vehicles sold. This is not my victory, but the victory of all of you who contributed to it. Despite the challenges of the COVID-19 pandemic and the economic crisis we faced, this awards ceremony was organized to express our gratitude to all of you who trusted our institution and stood by us. Let us continue our victorious journey together.”
Dilani Yatawaka, Group Managing Director Ideal Motors, said: “Today is a very happy day for us. This is the first time in history of the organisation, that representatives of our vehicles, spare parts, services, and financial institutions are meeting together under one roof.”
Speaking on the occasion, Sachin Arolka, Head International Operations, Auto Division Mahindra & Mahindra India, stated that Ideal Motors in Sri Lanka is one of the largest seller of Mahindra vehicles in Asia.
More than 300 dealers and finance partners participated in the event which concluded with dinner, fellowship and entertainment.
Business
Police engagement supports wildlife protection in hill country
Strengthening conservation through active law enforcement
An awareness and capacity-building program on wildlife crime prevention, with a special focus on the Sri Lankan leopard (Panthera pardus kotiya), was successfully conducted on March 20 at the Dimbula Athletics & Cricket Club, Radella.
The session was organized under the ongoing Multi-Regional Leopard Research and Conservation Project implemented by the Wildlife & Nature Protection Society (WNPS), in collaboration with LOLC. It brought together senior officers representing 28 Police stations across the Nuwara Eliya and Kandy districts, underscoring the growing importance of law enforcement in conservation efforts within multi-use landscapes, a WNPS news release said.
The Central Highlands present a unique conservation challenge, where increasing habitat loss and fragmentation, depletion of natural prey, and use of snares continue to threaten leopards inhabiting these landscapes majority outside formally protected areas. The session therefore focused on strengthening the capacity of Police officers to identify, prevent, and respond to wildlife crimes, while fostering closer coordination with conservation stakeholders, it explained.
Co-Chair of the Wildcats Subcommittee, Prof. Enoka Kudavidanage, highlighted the ecological and economic significance of leopards as apex predators, emphasizing their role in maintaining ecosystem balance and supporting nature-based tourism. She also outlined the current conservation challenges in the Hill Country and presented ongoing interventions under the WNPS–LOLC project.
Dr. Sanjaya Weerakody, Postdoctoral Fellow at the Xishuangbanna Tropical Botanical Garden (XTBG), Chinese Academy of Sciences, shared key research findings on leopard mortality trends over the past 17 years revealing concerning patterns, including the disproportionate loss of mature male individuals and the increasing prevalence of snaring as a primary cause of death highlighting an urgent need for targeted enforcement.
Attorney – at – Law Charaka Jayaratne provided an in-depth overview of the legal provisions under the Fauna and Flora Protection Ordinance, with particular attention to offences related to snaring. He discussed how Police can take more proactive and effective action, identifying gaps in current approaches and suggesting practical measures to strengthen enforcement outcomes.
Adding further perspective, Samantha Gunasekara, former Deputy Director of Customs and Chairman of the Marine Environment Protection Authority (MEPA), spoke on the broader context of illegal wildlife trade in Sri Lanka. Drawing from past cases and recent observations, he highlighted emerging trends and risks associated with wildlife trafficking.
Representing the Department of Wildlife Conservation, Ranger Srinath Dissanayake of the Hakgala Wildlife Range shared recent cases on leopard deaths and rescue operations recorded in 2025. He emphasized on personal observations, importance of timely intervention, and strong collaboration between field officers and the Police to mitigate human–wildlife conflict and prevent avoidable losses.
An interactive discussion followed, allowing officers to raise questions, clarify procedures, and exchange experiences while sharing their feedback as well. This dialogue contributed to reinforcing the value of strategic engagement between the Police, the Department of Wildlife Conservation, and conservation partners while strengthening inter-agency understanding and highlighting the need for coordinated responses during leopard-related incidents.
The session commenced with opening remarks by WNPS President Graham Marshall, who expressed appreciation for the participation of the Sri Lanka Police and reiterated the critical role of law enforcement in safeguarding biodiversity beyond protected areas.
WNPS Past President and WNPS LOLC Project Head Spencer Manuelpillai, Project Coordinator Gihani Hettiarachchi, Regional Center Coordinators, Thilanka Dissanayake and Attorney-at-Law Malaka Palliyaguruge were also present as part of the WNPS team.
WNPS extends its sincere appreciation to all officers who participated for their commitment and active engagement. Supported by LOLC, these initiatives form part of a broader effort to strengthen practical conservation through collaboration, knowledge sharing, and effective enforcement in Sri Lanka’s Hill Country.
Business
Mangala Tex marks expansion with new Kurunegala Branch
Fashion retail leader Mangala Tex celebrated the grand opening of its newest branch in Kurunegala on Saturday, March 14, 2026, adding a vibrant new dimension to the city’s commercial landscape.
Since its inception, Mangala Tex has been synonymous with style, durability, and quality, earning a lasting reputation as a premier clothing retailer. Guided by the visionary leadership of Chairman Ronald Nimal Hope, the brand has successfully established a strong presence with thriving outlets in Yatinuwara Veediya, Kandy, Cross Street, Kandy, and Peradeniya, Kandy.
The Kurunegala expansion marks a significant milestone in the company’s growth, bringing its signature fashion offerings closer to a wider customer base. True to its slogan, “Let Your Clothing Do The Talking,” the new store features an extensive range of apparel catering to all age groups, blending contemporary style with durable, high-quality fabrics.
Shoppers at the Kurunegala branch are greeted by a welcoming atmosphere and attentive staff, which long-time customers cite as key reasons for their loyalty. The store’s combination of trendy designs, reliable quality, and customer-centric service continues to set it apart in Sri Lanka’s competitive fashion retail sector.
Mangala Tex now employs more than 120 staff members across its branches, remaining a proudly family-driven enterprise alongside Managing Director Pahan Dissanayaka and Directress M M G P Dissanayaka.
With the official opening in Kurunegala, Mangala Tex demonstrates that consistent quality, style, and service can drive sustained growth, expanding the brand’s reach to new communities while reinforcing its status as a trusted name in Sri Lankan fashion.
Text and Pix by SK Samaranayake
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