Key Takeaways
- Select Technologies Limited completed its initial public offering, raising Rs3.02 billion.
- The IPO was oversubscribed 3.23 times and drew participation from over 13,000 investors.
- Proceeds will be used to expand manufacturing capacity and enhance market presence.
Select Technologies Limited has successfully completed its initial public offering (IPO), raising Rs3.02 billion after a strong response from both institutional and retail investors. The company offered 88.9 million ordinary shares, representing 10% of its post-issue paid-up capital.
The IPO was priced through a book-building process where the strike price was discovered at Rs34 per share, which is 21% above the floor price of Rs28. According to the company, the offering was oversubscribed 3.23 times and attracted participation from around 13,000 investors, including commercial banks, mutual funds, insurance companies, investment banks, pension and employees’ funds, brokerage houses, corporate investors, high-net-worth individuals, and retail investors.
Speaking at the Pakistan Stock Exchange (PSX) gong ceremony, PSX Managing Director and CEO Farrukh H. Sabzwari highlighted that SELECT’s listing marked the first IPO of the new fiscal year and reflected growing confidence in Pakistan’s technology manufacturing sector. He noted that FY2026 witnessed 11 IPOs—the third-highest annual total in 25 years—raising $66 million, while the investor base reached a record 583,052 accounts.
SEC Commissioner Zeeshan Rehman Khattak expressed his commitment to making the listing process more efficient while maintaining investor protection and encouraging companies from emerging sectors to access capital markets. He emphasized the importance of supporting the growth of technology manufacturing in Pakistan.
AirLink Communication Limited Chairman Aslam H. Piracha stated that the successful listing reflected investor confidence in SELECT’s strategy and reaffirmed its commitment to strong corporate governance and transparency. Arif Habib Limited, the lead manager to the issue, noted that the strong response from both institutional and retail investors demonstrated confidence in SELECT’s business model and the growing depth of Pakistan’s capital market.
Select Technologies CEO Adnan Aftab described the listing as a major milestone that would support the company’s long-term growth plans and strengthen its role in Pakistan’s consumer technology industry. The proceeds will be used to expand manufacturing capacity, strengthen product innovation, and enhance market presence in the sector.
SELECT’s listing marked the first IPO of the new fiscal year and reflected growing confidence in Pakistan’s technology manufacturing sector.
Farrukh H. Sabzwari, PSX Managing Director and CEO
The successful listing reflected investor confidence in SELECT’s strategy and reaffirmed its commitment to strong corporate governance and transparency.
Aslam H. Piracha, AirLink Communication Limited Chairman
The proceeds will be used to expand manufacturing capacity, strengthen product innovation, and enhance market presence in the sector.
Adnan Aftab, Select Technologies CEO
