hSenid to be first enterprise software company to launch IPO on CSE

From left: NDB Investment Bank CEO Darshan Perera, CT CLSA Holdings Group COO and Head of Investment Banking Zakir Mohamedally, hSenid Business Solutions Ltd Chairman Dinesh Saparamadu, hSenid Business Solutions Ltd CEO and Executive Director Sampath Jayasundara and NDB Investment Bank Chief Corporate Advisory Officer Nilendra Weerasinghe

Sri Lankan global HR software solutions provider hSenid Business Solutions successfully concluded its investor forum yesterday, ahead of its IPO, which is due to open on December 3, 2021. 

The event showcased the great strides made by hSenidBiz having penetrated the global market for human capital management (HCM) software while presenting the investment case to potential investors. 

The event attracted participation from a wide array of local and foreign investors representing both individual and institutional segments. The Q&A session that followed witnessed active engagement where participants clarified their questions directly with key decision makers and stakeholders at hSenidBiz. 

Discussing the outcome of the investor forum, hSenid Business Solutions Director/Chairman Dinesh Saparamadu 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.”

Under the guidance of NDB Investment Bank, lead manager to the issue and CT CLSA Capital, co-manager to the issue, hSenid Business Solutions Limited will offer 55,339,076 ordinary voting shares to the public at a price of Rs.12.50 per share, seeking to raise a total of approximately s.692 million in equity capital. 

These funds are to be channelled toward product development and market development, along with strategic acquisitions in the APAC and East Africa regions. Over the past five years, hSenidBiz has demonstrated robust growth in PAT, combined with healthy margins and exceptional performance across all fundamental indicators.

hSenid Business Solutions CEO/Director Sampath Jayasundara said, “Heading in for the IPO is an exciting milestone for all stakeholders of hSenidBiz. This has not been a journey of just a few individuals but an entire network of dedicated employees, partners, customers, advisors and our shareholders. We were fortunate to have worked with big local and global corporations as it gave us unique insights into HR practices and helped us develop innovative solutions that can be scaled globally. From the team point of view, it has been a great strength to have the right people from consulting to engineering, to build a global solution. This has definitely been a stepping-stone to benchmark our products with leading international brands and added new features based on unique customer requirements and considering different industries and geographical contexts.”