Capital Alliance Holdings PLC has seen an overwhelming response to its initial public offering (IPO), which was oversubscribed by 15.5 times, according to a stock exchange filing. The company had targeted raising 1.5 billion Sri Lankan rupees, but received applications amounting to a staggering 23.3 billion rupees.
The IPO drew a total of 6,847 applications. Of these, 2,548 applications—valued at 470 million rupees—were submitted via cheques. An additional 4,194 applications were received through electronic cash transfers, collectively seeking 388 million shares.
The bulk of the interest, however, came from 85 institutional investors who applied for 1.4 billion shares via bank guarantees, amounting to a total value of 14.7 billion rupees.
This strong investor interest underscores growing confidence in Capital Alliance Holdings and signals robust momentum in Sri Lanka’s capital markets.