Key Takeaways
- Dada Partners acted as exclusive financial advisor for QistBazaar's PKR 500 million Sukuk.
- This transaction marks a landmark Shariah-compliant capital markets structure in the fintech sector.
- The fund was fully subscribed by leading corporate and high-net-worth investors.
Dada Partners (Private) Limited has advised QistBazaar on its PKR 500 million unrated, privately placed Sukuk, a significant milestone in the fintech sector in Pakistan.
This transaction, the first in a planned series of sukuk financings, represents a groundbreaking Shariah-compliant capital markets structure for the buy-now-pay-later (BNPL) platform.
Shazad Dada, Founder and Managing Partner of Dada Partners, highlighted the innovative nature of the transaction, stating, 'Dada Partners is committed to providing innovative solutions to help our clients meet their financing objectives.'
The transaction involved a comprehensive advisory role, from developing the concept to structuring the Sukuk, preparing marketing materials, and leading a targeted investor roadshow.
QistBazaar's CEO, Mr. Arif Lakhani, expressed optimism, saying, 'Dada Partners innovative Sukuk deal proves startups don't have to keep diluting equity to grow, paving a vital new funding pathway for the ecosystem.'
The fund was fully subscribed by leading corporate and high-net-worth investors, participating through a dedicated private placement fund vehicle.
Dada Partners worked closely with the QistBazaar team, including its Board and Management, as well as partners such as Akhund Forbes, Alfalah Asset Management Company, Pak Brunei Investment Company Limited, and Al Hamd Shariah Advisory Services.
This transaction underscores the growing interest among institutional and private investors in well-structured Shariah-compliant instruments.
Dada Partners is committed to providing innovative solutions to help our clients meet their financing objectives.
Shazad Dada, Founder and Managing Partner of Dada Partners
Dada Partners innovative Sukuk deal proves startups don't have to keep diluting equity to grow, paving a vital new funding pathway for the ecosystem.
Mr. Arif Lakhani, CEO of QistBazaar
