hSenid to be the first enterprise software company to go public on the CSE

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hSenid to be the first enterprise software company to go public on the CSE

Wednesday, November 24, 2021, 10:44 a.m. SL time, ColomboPage News Desk, Sri Lanka.

November 24, Colombo: Sri Lankan global provider of HR software solutions, hSenid Business Solutions, has successfully concluded its investor forum, ahead of its IPO, which is scheduled to open on December 3, 2021.

The event showcased the great strides made by hSenidBiz in entering the global Human Capital Management (HCM) software market while presenting the investment case to potential investors. The event attracted the participation of a wide range of local and foreign investors representing both individual and institutional segments. The ensuing question-and-answer session witnessed active engagement in which participants clarified their questions directly with key decision makers and stakeholders at hSenidBiz.

Discussing the results of the Investor Forum, Dinesh Saparamadu, Director / President of hSenid Business Solutions, said, “The outcome of our Investor Forum is extremely positive. It was a pleasure to be able to interact directly with potential investors and industry specialists. We were able to answer all of their questions and address their concerns. Coming out of the event, we are confident that we will receive wide interest in our IPO and look forward to the opening day. We thank everyone who attended the event and are committed to continuing to deliver exceptional value to all stakeholders as we seek to play an even greater role in Sri Lanka’s growth story.

Led by NDB Investment Bank, lead managers of the issue, and CT CLSA Capital, co-managers of the issue, hSenid Business Solutions Limited will offer to the public 55,339,076 non-voting common shares at a price of 12 , LKR 50 per share, seeking to raise a total of approximately LKR 692 million in equity. These funds are to be spent on product development and market development, as well as strategic acquisitions in the APAC and East Africa regions. Over the past 5 years, hSenidBiz has demonstrated robust PAT growth, combined with healthy margins and outstanding performance on all fundamental metrics.

Commenting on the company’s journey so far, Saparamadu added, “We launched hSenidBiz with only three people in a small room in Ward Place. From day one, I was determined to create HR solutions for global markets. Today, as an indigenous multinational, we are committed to doing our part in the development of the local technology industry. I want to make sure that as our business grows, we also divert resources to upgrade the skills of local tech professionals and help start-ups get started. As a key player in Sri Lanka’s IT / BPM sector, we are proud to be able to support the country’s growth trajectory through our net positive foreign exchange flows, while helping to increase awareness and market access. foreigners for Sri Lankan IT / BPM companies. . ”

In addition to this, Sampath Jayasundara, CEO / Director of hSenid Business Solutions, said, “Preparing for the IPO is an exciting step for all stakeholders at hSenidBiz. This has not been the journey of a few individuals, but of a whole network of dedicated employees, partners, clients, advisors and shareholders. We have been fortunate to work with large local and global companies as this has given us unique insight into HR practices and helped us develop innovative solutions that can be scaled globally. From a team perspective, it has been a great strength to have the right people, from consulting to engineering, to build a total solution. It has certainly been a springboard for comparing our products with the biggest international brands and adding new features based on unique customer requirements and taking into account different industries and geographic contexts.

Our global expansion into over 40 countries would have been almost impossible without our global network of partners. While we thank everyone who accompanied us on this journey, we look forward to the new opportunities this IPO offers for the future of hSenidBiz. We believe we have a tremendous opportunity to build a global HR solutions brand that can tailor world-class solutions for different contexts and needs, and we believe we can take the lead in APAC and Africa regions.

Founded in 1997, hSenidBiz is today a global software solutions company in Sri Lanka, specializing in advanced HR solutions. HSenidBiz software is used by 1,000,000 users in 1,300 local and global giants across 20 diverse industries in more than 40 countries and multiple industries, with a strong presence in Asia-Pacific and Africa. hSenidBiz currently employs over 250 people and has contributed to over 4,000 individual technology journeys over its 25 year history. HSenidBiz alumni have accomplished great things and built successful careers in tech in Sri Lanka, Australia and the UK.


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