Kapruka Holdings Limited, the pioneering e-commerce platform that has evolved into Sri Lanka’s largest locally owned e-com platform, announced plans for the launch of Kapruka B2B; a dedicated B2B platform for bulk purchases. The platform which combines the convenience, value and reliability of Kapruka’s high quality order fulfilment with other value-added features, is aimed at helping businesses streamline their purchasing operations. Kapruka B2B is one of the several new initiatives the Company wishes to fund through its upcoming IPO.
Discussing plans for the launch of Kapruka B2B, Dulith Herath – Founder and CEO said, “The demand for B2B ecommerce solutions is growing exponentially, worldwide, and this trend is catching on here too. The time is now ripe for a locally grown, world class B2B ecommerce solution. Thus, Kapruka B2B, backed by Kapruka’s expertise, reputation and quality of order fulfilment, will help lead the way to creating a vibrant B2B ecommerce marketplace in Sri Lanka. Global giants like Amazon and Alibaba have led the way in this and created huge B2B marketplaces worth trillions of dollars. Our own research also indicates that many businesses in Sri Lanka, big and small, are looking to do their purchasing online. Thus, we see immense potential in this new initiative, which will be partly financed by the capital we intend to raise through our IPO.”
Kapruka B2B will be operated by Kapruka E-commerce (Private) Limited, a wholly owned subsidiary of Kapruka Holdings Limited. The B2B marketplace will launch with a focus on grocery items and will later expand to include other categories of wholesale goods including fruits, vegetables and other products. The Company expects to channel 55.5 million rupees from the IPO proceeds towards the Kapruka B2B platform, with development and implementation scheduled to be completed in phases across 2023 and 2024.
The Initial Public Offering of Kapruka was oversubscribed times on the opening day of the issue, 22nd December 2021. As a result, the issue closed at 4.30pm the same day, having received applications worth LKR Billion/Million. Significant retail interest was also observed with retail investors submitting applications. The Company plans to use the IPO proceeds to fund its expansion and growth plans, which include upgrading existing technology and infrastructure, alongside launching Kapruka Platform Services, which will carry several new initiatives such as Kapruka B2B.
Founded in 2002, Kapruka is Sri Lanka’s first and largest locally owned e-commerce enterprise. The company, through its website, facilitates online purchases of goods for its Sri Lankan and expatriate customer base. The Company has a well-integrated supply chain and sells its own-label products, predominantly, Kapruka cakes, flowers and value-added fruits and vegetables. The Company partners with over 500 high-end brands and executes order fulfilment and last mile delivery for its online orders. Kapruka strives to provide a non-marketplace model and a superior online shopping experience to consumers.