JXG debuts on CSE’s Main Board

Janashakthi Limited operating as JXG (Janashakthi Group) marked the debut trading of its 500,000,000 ordinary voting shares (Symbol: JXG.N0000) on The Main Board of the Colombo Stock Exchange (CSE) yesterday (29th April 2026) by way of ringing the ceremonial market opening bell on the trading floor of CSE.

The Initial Public Offer (IPO), which took place on 9th April 2026, was made through an offer for subscription for 500,000,000 ordinary voting shares of the par value of LKR 10/- with First Capital Advisory Services (Pvt) Limited, a JXG subsidiary, as their manager to the issue, raising Rs. 5 bn. The IPO was oversubscribed by three times representing a cumulative value of over 15.15 billion rupees.

JXG’s debut on The Main Board forms part of the company’s long-term growth strategy aimed at broadening its earnings base, enhancing scale, and strengthening its presence across complementary financial services verticals.

The company will use the IPO proceeds to fund its expansion across the General Insurance, Microfinance, and Non-Bank Financial Institutions (NBFI) sectors, establish a presence in overseas markets, and retire existing interest-bearing debt.

Chandan de Silva, Group Chairman – JXG (Janashakthi Group) said, “The three times oversubscription of the largest IPO in the last fourteen years at a time of significant economic and financial uncertainty, is a strong indication of investor trust and confidence in JXG’s brand, which in turn is based on sound governance, strategy and the ability to execute.”

Rajeeva Bandaranaike, CEO of CSE, remarked: “Janashakthi Limited lists it shares today following a Rs. 5 Bn IPO which was oversubscribed by three times and was the largest IPO we have had for the last 14 years.”