CIFL’s Rs. 400 m IPO scrapes thru’

Thursday, 28 July 2011 00:12 - - {{hitsCtrl.values.hits}}

The Rs. 400 million Initial Public Offering (IPO) of Central Investments and Finance Ltd., (CIFL) had managed to be oversubscribed in a small margin.

Registrars SSP Corporate Services said yesterday that the IPO drew 5,255 applications worth only Rs. 427 million, reflecting an oversubscription of only Rs. 27 million.

The IPO made available 40 million shares at Rs. 10 each. Though it was a scrape through, analysts said the IPO came at a time when market was highly depressed hence it managing an oversubscription was commendable.

Applications with payments made by bank draft and cheques amounted to 5,250 requesting for 37.63 million shares worth Rs. 376.4 million. There had been only five applications with payments via bank guarantee requesting for 5.05 million shares worth Rs. 50.5 million.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.