CAS achieves Rs. 1 b footprint in Jan. with landmark deal in agriculture

Tuesday, 31 January 2023 02:52 - - {{hitsCtrl.values.hits}}

Capital Advisory Services, a boutique investment bank in Sri Lanka achieved a historic milestone of a Rs. 1 billion in footprint in the first month of 2023 with a landmark deal in the agriculture sector.

CAS, was the sole facilitator and advisor to Nilvin View Tea Factory, (a member of the KDU group, one of the largest tea producers to the nation) in securing strategic long-term financing for capacity expansion.

CAS has been instrumental in raising capital, both in the form of debt and equity for Sri Lankan corporates and SMEs since its inception in 2020.

CAS Managing Director Lakshman Kariyawasam, a veteran in Sri Lankan capital markets said: “I saw a substantial vacuum in the capital market space, with very large corporates in the agricultural and manufacturing sectors, not having access to Capital Markets and Foreign financing as freely as the financial sector players.”

“Whilst their balance sheet was healthy and strong, they lacked the knowhow to access capital markets. I saw this as an opportunity for us to work with them in accessing local capital markets and foreign funding,” he added.

CAS said it has now grown to be a force to be reckoned with in the Sri Lankan capital markets and will continue its mission of “Capital Market inclusion” for the untapped sectors in Sri Lanka.