JXG Debuts on CSE’s Main Board
Janashakthi Limited operating as JXG (Janashakthi Group) marked the debut trading of its 500,000,000 ordinary voting shares (Symbol: JXG.N0000) on The Main Board of the Colombo Stock Exchange (CSE) yesterday (29th April 2026) by way of ringing the ceremonial market opening bell on the trading floor of CSE.
The Initial Public Offer (IPO), which took place on 9th April 2026, was made through an offer for subscription for 500,000,000 ordinary voting shares of the par value of LKR 10/- with First Capital Advisory Services (Pvt) Limited, a JXG subsidiary, as their manager to the issue, raising Rs. 5 bn.
The IPO was oversubscribed by three times representing a cumulative value of over 15.15 billion rupees.
JXG’s debut on The Main Board forms part of the company’s long-term growth strategy aimed at broadening its earnings base, enhancing scale, and strengthening its presence across complementary financial services verticals.
The company will use the IPO proceeds to fund its expansion across the General Insurance, Microfinance, and Non-Bank Financial Institutions (NBFI) sectors, establish a presence in overseas markets, and retire existing interest-bearing debt.
Keynote speaker at the market opening ceremony, Mr. Chandan de Silva, Group Chairman – JXG (Janashakthi Group) said,
“The three times oversubscription of the largest IPO in the last fourteen years at a time of significant economic and financial uncertainty, is a strong indication of investor trust and confidence in JXG’s brand, which in turn is based on sound governance, strategy and the ability to execute.
As we enter the stock market, we are committed to expanding our impact and contributing meaningfully to the evolution of Sri Lanka’s financial landscape.”
Speaking on the listing, Mr. Ramesh Schaffter, Managing Director / Group CEO – JXG (Janashakthi Group) commented,
“This milestone reflects not only a successful listing, but also the strength and resilience of our team in navigating a complex market environment.
We are grateful for the confidence placed in us by our investors and the public, which strengthens our responsibility as a listed entity.
Our focus now is on executing our strategies to scale our businesses responsibly and delivering sustained value to our shareholders and stakeholders alike.”
Mr. Rajeeva Bandaranaike, CEO of CSE, speaking at the opening ceremony also remarked:
“Janashakthi Limited lists it shares today following a Rs. 5 Bn IPO which was oversubscribed by three times and was the largest IPO we have had for the last 14 years.”
Janashakthi Group, a well-established diversified financial services conglomerate, is the parent company of Janashakthi Insurance PLC, First Capital Holdings PLC, and Janashakthi Finance PLC.
Photo caption from left to right - Mr. Dilshan Wirasekera, Deputy Chief Executive Officer – JXG ; Mr. Ray Abeywardena, Director – Colombo Stock Exchange (CSE); Mr. Ramesh Schaffter, Managing Director & Group Chief Executive Officer – JXG; Mr. Prakash Schaffter, Deputy Chairman – JXG; Mr. Chandra Schaffter, Founder and Chairman Emeritus – JXG; Mr. Chandan de Silva, Chairman – JXG; Ms. Manjula Mathews, Director – JXG; Mr. Rajeeva Bandaranaike, Chief Executive Officer – CSE; Ms. Kanishka Munasinghe, Vice President – Listing – CSE.