First Shariah-compliant Rs. 500 m debt by Vidullanka up for grabs

Thursday, 5 June 2025 04:35 - - {{hitsCtrl.values.hits}}

The first Shariah-compliant debt securities issue by Vidullanka PLC is up for grabs now.

The company is issuing 5 million listed, rated, secured, redeemable, five-year Sukuks at Rs. 100 each, thereby raising Rs. 500 million. The Sukuks are of two types. Type A is a five-year instrument with a fixed Ijarah payment rate of 10.74% (AER of 11.04%) payable semi-annually, and Type B is a five-year tenor with a floating Ijarah payment rate of AWPLR payable semi-annually.

This floating Ijarah payment rate will have a cap of 13% and a floor of 10%.

The official opening of the subscription list will be on 17 June but investors can subscribe to the issue from now on.

NDB Investment Bank is the managers and joint arrangers to the issue and Adl Capital Ltd., is the joint arrangers to the issue.