JF Packaging IPO Oversubscribed Over Six Times

Generating active and broad-based interest from investors, the Initial Public Offering (IPO) of Ordinary Voting Shares of JF Packaging Limited was heavily oversubscribed within hours of its opening at 9.30am  on 30th October 2025. Accordingly, the offer was closed at 4.30 PM on the same day.

As one of Sri Lanka’s leading and multi-award-winning flexible packaging solutions providers serving top-tier clients including multinationals and leading FMCG brands with a strong focus on sustainability, innovation, and operational excellence, the Issue was expected to attract substantial interest from a wide spectrum of local and global, individual and institutional investors.

A total of 51,724,144 Ordinary Voting Shares of JF Packaging Limited were offered to the public at an Issue Price of LKR 11.60 per share, with the Company seeking to raise LKR 600 million through public investment, and a listing on the Main Board of the Colombo Stock Exchange. However, the Company received total subscriptions worth LKR 3,785 million, resulting in the offer being oversubscribed by a factor of 6.3 times.

Expressing gratitude on behalf of the Company, Mr. K.P. David, Managing Director  at JF Packaging Limited said, “This is a landmark milestone for JF Packaging, and we extend our heartfelt thanks to all investors who have placed their confidence in us by becoming stakeholders. We are humbled by the overwhelming response, and regret that we cannot allot the full amount subscribed to every applicant. We will ensure that the allotment is conducted in a fair manner and in accordance with the basis disclosed in our Prospectus. We reaffirm our commitment to delivering on our stated objectives and creating exceptional value for all stakeholders in the months and years ahead.”

The stated objectives for the capital raised are as follows: LKR 439,464,493 to settle term loans and LKR 160,535,577 to partially settle outstanding working capital loans thereby reducing finance costs, strengthening the balance sheet, and enhancing cash flows.

JF Packaging Limited is a market leader in high-quality flexible packaging, with a diverse product portfolio that includes shrink sleeves, alu lids, pouches, high-barrier laminates, and co-extruded films. Its clientele features prominent local and global brands. The Company is also a leader in sustainable packaging innovations, introducing bio-based plastics, compostable materials, and post-consumer recycled laminates to the Sri Lankan market.

Through this IPO, discerning investors have taken advantage of a high-value opportunity to participate in a resilient, innovation-driven sector with strong domestic and export growth prospects.