Janashakthi Limited, operating as JXG (Janashakthi Group), marked its stock market debut on the Main Board of the Colombo Stock Exchange yesterday (April 29, 2026), with the ceremonial ringing of the opening bell.

The listing follows a Rs. 5 billion Initial Public Offering (IPO) concluded on April 9, comprising 500 million ordinary voting shares priced at Rs. 10 each. The issue, managed by First Capital Advisory Services (Pvt) Ltd, was oversubscribed three times, attracting total demand exceeding Rs. 15.15 billion—making it the largest IPO on the CSE in the past 14 years.

JXG’s entry to the Main Board is aligned with its long-term strategy to diversify earnings, expand scale, and strengthen its footprint across complementary financial services segments. Proceeds from the IPO are earmarked to support growth in general insurance, microfinance, and non-bank financial institutions (NBFIs), alongside plans for overseas expansion and the reduction of interest-bearing debt.

Speaking at the listing ceremony, Group Chairman Chandan de Silva said the strong investor response reflects confidence in the group’s governance, strategy, and execution capabilities, particularly amid prevailing economic uncertainty. He added that the listing would enable the group to deepen its contribution to Sri Lanka’s evolving financial sector.

Managing Director and Group CEO Ramesh Schaffter noted that the milestone underscores the company’s resilience in navigating a challenging market environment. He emphasized JXG’s commitment to responsible growth and delivering sustained value to shareholders.

Meanwhile, CSE CEO Rajeeva Bandaranaike highlighted that the offering stands out as the largest IPO in over a decade, reinforcing renewed investor interest in Sri Lanka’s equity market.

Janashakthi Group is a diversified financial services conglomerate with interests spanning insurance, investment banking, and finance, through subsidiaries including Janashakthi Insurance PLC, First Capital Holdings PLC, and Janashakthi Finance PLC.