Sarvodaya Development Finance IPO oversubscribed on opening day
Sarvodaya Development Finance’s (SDF) Rs 1 billion Initial Public Offering (IPO) was oversubscribed on the opening day, stated the Company Secretary of SDF. Underwritten by NDB Bank and Sampath Bank, the IPO was aimed at raising Rs 1 billion, through 45 million ordinary voting shares at a price of Rs 22.00 per share. The stake offered was 30.38%. There was active interest from a range of investors from both individuals and institutions.