News & market updates

Vidullanka PLC commissioned a 3 MW solar plant (via subsidiary Vidul Matara Solar Power Ltd.) on 19 Sep, adding about 5.5 GWh/year and bringing its portfolio to 24 plants totaling 66 MW. The plant is the first of 9 MW awarded under the CEB's 70MW tender and is the group's third plant this year (15 MW).

Vidullanka PLC (VLL.N0000) commissioned a 3MWp solar power plant in Kamburupitiya, Matara through its fully owned subsidiary MataraSolar Power, expected to generate 5.5 GWh of clean energy.

NDB Investment Bank (part of the National Development Bank group) was named Euromoney's Best Investment Bank in Sri Lanka for a 14th consecutive year. NDBIB said it led multiple 2024 transactions including M&A/divestitures, rights issues, debentures and groundwork for Vidullanka's Sukuk and Alliance Finance's green bond.

The Sri Lanka–Japan Business Council held its 46th AGM and elected Athulla R F Edirisinghe as President for 2025/26, with Japan's Ambassador urging restored investor confidence and steady implementation of Japan-assisted mega projects including the BIA expansion.

Vidullanka PLC commissioned a 2 MW AC (2.5 MW DC) solar plant in Horana that can export about 3.6 GWh annually to the national grid. The plant, built by subsidiary Vidul Solar Power Ltd, is the second phase of the Horana project and brings Vidullanka's portfolio to 23 operational plants totalling 63 MW.

Vidullanka commissioned its 2MW Horana solar power project (phase II), expected to generate 3.6 GWh of clean energy and supply it to the national grid. The project was implemented through Vidul Solar Power (Pvt) Limited, a fully owned subsidiary.

Seylan Bank PLC’s Islamic Banking Unit won the 'Islamic Finance Deal of the Year' at the SLIBFI Awards 2025 for sole financing via a Diminishing Musharaka of a 10 MW solar project in Batticaloa costing over LKR 2.3 billion. The SPV Sooryashakthi is owned by Solar Universe, a JV of Vidullanka PLC and Windforce PLC.

WindForce PLC commissioned the 10 MW Sooryashakthi solar plant in Vavunativu, Batticaloa on July 26, 2025, expected to supply about 19.5 GWh annually to the national grid. The project was developed in collaboration with Vidullanka PLC under WindForce's full EPC on 27 acres, using 22,048 PV modules and 34 string inverters.

WindForce PLC launched a 10 MW solar plant in Batticaloa in a joint venture with Vidullanka, expected to generate about 19.5 GWh a year; WindForce executed the EPC and said the project was completed on July 26.

WindForce PLC and Vidullanka PLC commissioned the 10 MW Sooryashakthi Solar Power Project in Vavunativu, which will deliver about 19.5 GWh annually to the national grid. Each holds a 50% stake, with WindForce leading EPC work converting 27 acres of high-salinity land.

Vidullanka PLC launched the Colombo Stock Exchange's first-ever listed Sukuk. The asset-backed, Shariah-compliant instrument creates a new financing route for renewable energy and infrastructure projects that could benefit other listed power companies.

Vidullanka PLC listed Sri Lanka’s first Sukuk on the Colombo Stock Exchange: two five-year Ijarah tranches (5 million units) — a fixed-rate tranche paying 10.75% (AER 11.04%) and a floating-rate tranche tied to AWPLR with a 10.00% floor and 13.00% cap.

Vidullanka PLC completed Sri Lanka’s first listed Sukuk issuance, a landmark highlighted at the 13th Capital Markets Conference. CSE CEO outlined market challenges and reforms, noting progress on sustainable/social bonds, Sukuk, stock lending and plans for a derivatives exchange with India’s NCDEX.

Vidullanka PLC's 500 million rupee, 5-year Sukuk — the first Sukuk listed on the Colombo Stock Exchange — was oversubscribed. The issue offers a fixed Ijarah option at 10.75% semi‑annual (11.04% effective) or a floating AWPLR-linked option with a 13% cap and 10% floor.

Vidullanka PLC's issue of five million listed, rated, secured, redeemable Sukuk (Rs.100 each; Rs.500 million) was fully subscribed on opening day (17 June). The company will disclose the basis of allotment to the Colombo Stock Exchange; the sukuk is Sri Lanka's first listed Shariah-compliant debt instrument.

Vidullanka PLC launched Sri Lanka’s first listed Sukuk, raising Rs. 500 million with subscriptions opening 17 June. The SEC- and CSE-approved issue (backed by its mini hydropower plant and Fitch A+(lka)) will settle Rs. 400m of short-term debt and offers fixed and AWPLR-linked return options.

The Colombo Stock Exchange ASPI closed marginally up at 17,661.45 (+0.02%) while the S&P SL20 fell to 5,275.01 (-0.21%) and turnover dropped to 3.6 billion rupees. Movers included L B Finance, Sampath Bank and Central Finance rising; LOLC Finance announced a share buyback and Vidullanka listed a 500 million-rupee Sukuk.

Vidullanka PLC will raise Rs. 500 million through its first-ever listed Sukuk on the Colombo Stock Exchange. The 5-year issue (rated A+) offers a fixed Ijarah at 10.75% (11.04% effective) or a floating AWPLR-linked option, and will use Rs.400m to repay short-term loans and Rs.100m for working capital.

Vidullanka PLC is issuing 5 million five-year listed, secured Sukuks at Rs.100 each to raise Rs.500 million; Type A pays fixed Ijarah 10.74% (AER 11.04%) semi-annually and Type B pays floating AWPLR with a 10% floor and 13% cap. Subscription opens officially on 17 June; NDB Investment Bank and Adl Capital are arrangers.

Vidullanka PLC got approval to issue a Rs.500 million five-year Sukuk, offering a fixed Ijarah rate of 10.75% (effective 11.04% p.a.) with subscriptions opening June 17. The issue, rated A+ (lka), is secured by plant and machinery of its Lower Kotmale Oya mini-hydro project and is managed by NDB Investment Bank and ADL Capital.

Dividend · Rs 0.35 · XD Jun 13, 2025

First Interim dividend of LKR 0.35/share; XD 2025-06-13; record 2025-06-15; payable 2025-07-02; FY For the year 2025 / 2026

Fitch assigned a final National Long-Term Rating of 'A+(lka)' to Vidullanka PLC’s proposed LKR500 million sukuk. Proceeds will refinance short-term loans and fund working capital, with Hatton National Bank as trustee.

Vidullanka PLC plans to sell Sri Lanka’s first publicly listed Sukuk to raise 500 million LKR (with potential to upsize) to refinance short-term loans and for working capital; Fitch assigned an expected local A+ rating to the offering.

The Supreme Court on 11 March dismissed Vidullanka PLC MD Riyaz Mohamed Sangani's leave to appeal, upholding the Court of Appeal and the SEC's compounding of four insider-dealing offences at Rs.3 million each (Rs.12 million total).