JXG opens IPO tomorrow to fuel next growth phase

JXG, the parent company of the Janashakthi Group, will open its Initial Public Offering (IPO) on 9th April 2026, marking a significant milestone in its journey.

The IPO proposes to raise Rs. 5 billion through the issue of 500 million ordinary voting shares at Rs. 10.00 per share, amounting to a 21.74 percent stake in the listed entity. 

An independent valuation by Deloitte Sri Lanka places JXG’s per‑share value at Rs. 15.92, with the IPO share price offering a 37.18 percent discount. Proceeds from the IPO will be strategically allocated to fuel growth. Rs. 3.5 billion to expand and diversify its financial services footprint through strategic entry and expansion across the General Insurance, Microfinance, and Non-Bank Financial Institutions (NBFI), Rs. 500 million for regional overseas expansion, and Rs. 1 billion to retire debt, optimise the capital structure and enhance financial flexibility.  

As JXG becomes a listed entity, it reiterates its commitment to maintaining the highest standards of governance and transparency. The Board already benefits from strong independent oversight, with five Independent Non‑Executive Directors.

First Capital Advisory Services (Pvt) Ltd acts as the Manager and Financial Advisor to the Issue.