JF Packaging IPO attracts Rs. 3.7 b worth of applications

Friday, 7 November 2025 00:23 - - {{hitsCtrl.values.hits}}

Rs. 600 m IPO closed on opening day, 6 times oversubscribed

JF Packaging yesterday announced that its recently concluded Rs. 600 million initial public offering (IPO) was six-times oversubscribed, attracting over 7,500 applications worth over Rs. 3.7 billion.

Over 2,400 investors applied for shares via bank drafts and cheques totalling over Rs. 1.8 billion, followed by 12 investors submitting bank guarantees worth over Rs. 1 billion, and over 5,100 investors transferring over Rs. 920 million via online banking channels.

The IPO closed oversubscribed on its opening day, 30 October.

The Issue offered over 51.7 million Ordinary Voting Shares at Rs. 11.60 each and will list on the Main Board of the Colombo Stock Exchange.

JF Packaging said its IPO attracted strong interest from institutional and retail investors.

Proceeds will be used to settle selected term and import loans, strengthening the company’s balance sheet and reducing finance costs.