KARACHI: Select Technologies Limited has successfully completed its initial public offering, raising Rs3.02 billion. A gong ceremony was also held on Monday to celebrate the offering.
The IPO comprised 88.9 million ordinary shares, representing 10 per cent of the company’s post-issue paid-up capital, and received a strong response from investors during both the book building and general public subscription phases.
The floor price was set at Rs28 per share. Following healthy demand during the book building process, the strike price was discovered at Rs34 per share, a premium of 21 per cent over the floor price.
The offering attracted participation from commercial banks, mutual funds, insurance companies, investment banks, pension and employees’ funds, brokerage houses, high-net-worth individuals, corporate investors and retail investors.
Proceeds from the IPO will support the company’s growth initiatives, including expanding manufacturing capabilities, strengthening product innovation and enhancing market presence.
Farrukh H Sabzwari, managing director and CEO of the Pakistan Stock Exchange, said the listing marked the first of the new fiscal year. He said financial year 2026 saw 11 IPOs, the third highest in 25 years, raising 66 million US dollars, while average daily traded value reached an all-time high of 205 million US dollars across 537 listed companies.
He added that market capitalisation touched a record Rs21 trillion in January 2026, closing the year at Rs20.20 trillion, equivalent to 16 per cent of GDP, with the investor base reaching an all-time high of 583,052 accounts.
Zeeshan Rehman Khattak, commissioner at the Securities and Exchange Commission of Pakistan, said the commission remained committed to making the listing process seamless and continued to balance regulatory requirements with investor protection.
Aslam H Piracha, chairperson of AirLink Communication Limited, said the listing marked a significant milestone for the company and the group, reflecting strong investor confidence in its strategy and capabilities.
Adnan Aftab, chief executive officer at Select Technologies Limited, said the listing validated the company’s journey as a leading local manufacturer in the consumer technology space and would energise it to play a larger role in Pakistan’s industrial growth.
Shahid Ali Habib, chief executive officer of Arif Habib Limited, said the IPO witnessed 3.23 times oversubscription with participation from around 13,000 investors, reflecting the market’s confidence in the company’s business model and growth potential.
