JXG rings CSE Bell to mark Main Board debut

Thursday, 30 April 2026 00:02 - - {{hitsCtrl.values.hits}}

JXG Founder and Chairman Emeritus Chandra Schaffter rings the CSE bell on the company’s debut. From left: JXG Deputy Chief Executive Officer Dilshan Wirasekera, CSE Director Ray Abeywardena, JXG Group CEO/Managing Director Ramesh Schaffter, Deputy Chairman Prakash Schaffter, Chairman Chandan de Silva, Director Manjula Mathews, CSE CEO Rajeeva Bandaranaike, and Vice President – Listing Kanishka Munasinghe

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 by way of ringing the ceremonial market opening bell on the trading floor of CSE.

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

Keynote speaker at the market opening ceremony, JXG Group Chairman Chandan de Silva 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. As we enter the stock market, we are committed to expanding our impact and contributing meaningfully to the evolution of Sri Lanka’s financial landscape.”

Speaking on the listing, Group CEO/Managing Ramesh Schaffter said: “This milestone reflects not only a successful listing, but also the strength and resilience of our team in navigating a complex market environment. We are grateful for the confidence placed in us by our investors and the public, which strengthens our responsibility as a listed entity. Our focus now is on executing our strategies to scale our businesses responsibly and delivering sustained value to our shareholders and stakeholders alike.”

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