Business
Sarvodaya Development Finance successfully concludes Virtual Investor Forum
Sarvodaya Development Finance (SDF), the financial services arm of one of Sri Lanka’s oldest social movements, the Sarvodaya Shramadana Movement, recently concluded its Investor Forum. The event followed SDF’s announcement of its Initial Public Offering (IPO) proposition that is scheduled for the 23rd of November, and successfully acted as a way for investors and stakeholders to interact and have in-depth conversations about SDF’s commitment to creating equitable value for all stakeholders, with the ultimate goal of empowering individuals and enhancing livelihoods across the nation.
The Investor Forum allowed institutional investors, retail investors and those interested in Investing in Humanity to gain a clear understanding of SDF’s portfolio that is catered to the evolving needs of a diverse clientele, their commitment to the enhancement of national development, and their success story of being Sri Lanka’s Fastest Growing Development Finance Company.
Commenting on the conclusion of SDF’s Investor Forum, Chief Executive Officer, Nilantha Jayanetti stated, “We are overjoyed to have successfully concluded our Investor Forum, making a strong presentation for investment opportunities aimed at those who are striving towards societal, economic, and national development. Many valuable questions were raised by the attendees of the event, all of which were satisfactorily answered, leaving no doubt towards the authenticity and impact of an investment of this nature. Based on the feedback we received, we are confident that our IPO will receive wide-ranging interest from both local and foreign investors. On behalf of the entire management team at Sarvodaya Development Finance, I would like to encourage all those interested in being a catalyst in creating an economically progressive society to seize this opportunity and create equitable value for all stakeholders.”
Managed by NDB Investment Bank, Sarvodaya Development Finance will offer up to 45,454,546 ordinary voting shares at a price of Rs.22.00 per share, this presents an upside of 18 percent per share, resulting in a projected market capitalization of Rs.3.29 billion assuming full subscription at the Issue price. Offering the IPO enables potentially interested investors in society to contribute to SDF’s on-going work on developing rural villages, echoing the age-old Sarvodaya goal of working together to achieve societal benefits.
With a track record spanning over 5 decades, Sarvodaya Movement uplifts and empowers rural masses, has a strong brand presence and is a trusted name among Sri Lankans. Today, SDF has transformed into a young, tech-savvy financial services specialist providing a diverse product range, making affordable financing accessible to all.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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