Sarvodaya Development Finance’s (SDF) Initial Public Offering (IPO) proposition will permit potential investors to submit applications for the IPO, which will open on November 23.
SDF is a financial services provider that aims to empower rural masses across the nation by facilitating development opportunities with the prime goal of securing equitable economic growth and driving national development.
The IPO is being offered with a discount of 17% to the share issue transaction PBV (Price by Volume
Managed by NDB Investment Bank, Sarvodaya Development Finance will offer up to 45,454,546 ordinary voting shares at Rs. 22 per share through its IPO, resulting in a projected market capitalisation of Rs. 3.29 bn assuming full subscription at the Issue Price. This translates into an estimated forward PER of 16.17 for FY22 and implied TTM PER (as at August 31, 2021) of 11.02x.
Chief Executive Officer, Nilantha Jayanetti said, “We are incredibly proud to launch SDF’s Initial Public Offering. SDF has worked hard over the years to empower rural entrepreneurs to the best of its ability, having used key concepts such as digitization to drive process efficiencies and ensure inclusive financing. Offering the IPO enables potentially interested investors in society to contribute to SDF’s on-going work on enhancing national development, echoing the age-old Sarvodaya goal of working together to achieve societal benefits.
The IPO launch is testament to SDF’s unwavering dedication to create equitable value for all stakeholders, with the ultimate goal of empowering individuals and enhancing livelihoods across the nation.”