Khaadi Pakistan Ltd, an iconic fashion retail company, is planning a record initial public offer next month to fund its outlet expansion. The company plans to raise between Rs6.2 billion and Rs8.3 billion ($30 million), according to Bloomberg.
Khaadi is a subsidiary of Weaves Corp, which counts International Finance Corporation, a member of the World Bank Group, as a minority shareholder. Khaadi’s key market is Pakistan and also operates in the UAE, the UK and the US. Arif Habib Ltd is the financial adviser for the transaction.
The sale comes as Pakistan’s is having a record year for IPOs, with 13 deals that together have raised a record Rs24.9 billion, according to data compiled by Bloomberg.
Khaadi’s key market is Pakistan but it also operates in the UAE, the UK, and the US. Arif Habib Ltd is the financial adviser for the transaction.
A stock rally in 2024-2025 that made the PSX one of the best in the world and surging retail participation in the last few years are drawing companies in Pakistan back to the equity market.
Khaadi was founded by Shamoon Sultan in 1998 with a single store that has gradually become one of the most-renowned apparel brands targeting mass-market fashion with 31 stores. Khaadi has shifted its retail strategy from adding branches to invest in larger-format stores and launching new products every week.
