Ambiyan Capital acquires majority shares of Harischandra Mills

Ambion Capital PLC, through its subsidiary Ambion Essentials (Private) Limited, has entered into an agreement to acquire a majority stake in Harischandra Mills PLC.

The company announced this through a market disclosure submitted to the Colombo Stock Exchange. Accordingly, a Share Sale and Purchase Agreement (SSPA) was signed on January 24, 2026. This will facilitate the acquisition of 981,118 ordinary voting shares, representing approximately 51.11% of the total issued voting shares of Harischandra Mills PLC. These shares will be acquired through a voluntary offer from a group of investors.

However, the necessary regulatory approvals for this proposed acquisition are yet to be obtained.

Furthermore, Ambion Essentials has also announced its intention to make a voluntary offer to acquire the remaining ordinary voting shares of Harischandra Mills PLC from all shareholders. This will be carried out in accordance with the Code on Takeovers and Mergers, as well as other relevant regulations.

The company further stated that full details, including the price and terms of this voluntary offer, will be announced in due course after regulatory clearance.
According to the Ambion Capital website, Mr.Sujeewa Mudalige serves as Chairman and Dr. Sajeeva Narangoda   as Executive Director / Group CEO of the company.