hSenid to raise Rs 692 M Via IPO

CEYLON TODAY | Published: 2:00 AM Nov 24 2021
FT hSenid to raise Rs 692 M Via  IPO

As hSenid Business Solutions Limited the Sri Lankan market leader in Human-Capital-Management (HCM) related software industry, draws closer to its highly anticipated Initial Public Offering (IPO).

hSenid Business Solutions is set to offer 55,339,076 new ordinary voting shares at Rs 12.50 per share, and plans to raise a total sum of Rs 692 million to fund the Company’s key growth initiatives including strategic acquisitions, geographical expansions, and product enhancements.

With over two decades of knowledge and experience in the HCM related software industry specialising in emerging markets, hSenid has cemented its position as a market leader and is now the first enterprise software company to be listed on the Colombo Stock Exchange (CSE).

Discussing the outcome of the investor forum which was held yesterday, Dinesh Saparamadu – Director/Chairman at hSenid Business Solutions said, “The outcome of our investor forum is overwhelmingly positive. It was a pleasure to be able to directly interact with prospective investors and industry specialists. We were able to answer all their questions and address their concerns. Coming away from the event, we are confident of receiving broad-based interest in our IPO and look forward to the opening day. We thank all those who attended the event, and pledge to continue delivering exceptional value to all stakeholders as we seek to play an even bigger role in Sri Lanka’s growth story.”

“We started hSenidBiz with just three people out of a small room at Ward Place. From day one, I was determined to build HR solutions for global markets. Today, as an indigenous multinational, we are committed to doing our part in developing the local tech industry. I wish to ensure that while our Company grows, we also divert resources to up-skill local tech professionals and help start-ups get off the ground. As a key player in Sri Lanka’s IT/BPM sector, we are proud to be able to support the nation’s growth trajectory through our net positive Forex flows, while also helping to increase awareness about and access to foreign markets for Sri Lankan IT/BPM companies.” he said.

CEYLON TODAY | Published: 2:00 AM Nov 24 2021

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