Key Takeaways
- Select Technologies Limited completed its Initial Public Offering, raising Rs. 3.02 billion.
- The offering attracted a diverse range of investors, reflecting confidence in the company’s growth prospects.
- Proceeds from the IPO will support the company's strategic initiatives to expand manufacturing and innovate.
Select Technologies Limited has successfully completed its Initial Public Offering (IPO) on the Pakistan Stock Exchange (PSX), raising Rs. 3.02 billion, making it one of the most notable equity offerings in Pakistan’s technology sector.
The IPO comprised 88.9 million ordinary shares, representing 10% of SELECT's post-issue paid-up capital, with a floor price set at Rs. 28.00 per share. The strike price was discovered at Rs. 34.00 per share, marking a 21% premium over the floor price.
The offering received strong participation from various investor segments, including commercial banks, mutual funds, insurance companies, investment banks, pension and employee funds, brokerage houses, high-net-worth individuals, corporate investors, and retail investors. This broad-based interest underscores the confidence in SELECT’s business fundamentals, growth strategy, and long-term prospects.
Mr. Farrukh H. Sabzwari, Managing Director and CEO of PSX, expressed his satisfaction with the listing, stating: 'It is a privilege to welcome Select Technologies Limited to the Pakistan Stock Exchange. This gong ceremony marks the first listing of the new fiscal year, and it is a fitting one — a company that is designing and building high-quality tech-based products here in Pakistan.'
The successful completion of SELECT’s IPO highlights the increasing depth of Pakistan’s capital markets and the growing investor appetite for companies operating in the country's expanding technology and manufacturing ecosystem. It also reinforces confidence in businesses contributing to local manufacturing, import substitution, and the promotion of high-quality 'Made in Pakistan' technology products.
Mr. Sabzwari further highlighted that FY2026 delivered 11 IPOs, the third highest in 25 years, raising USD 66 million, while average daily traded value reached an all-time high of USD 205 million, approximately Rs. 57 billion, across 537 listed companies.
The market capitalization touched a record PKR 21 trillion in January 2026, with the market closing the year at a market cap of Rs. 20.20 trillion, equivalent to 16% of GDP. Most encouraging is the widening base of participation: the investor base reached an all-time high of 583,052 accounts, with new accounts opened at an average of around 16,000 each month, compared to 5,290 in the previous year.
With the KSE-100 Index having delivered an annualized return of 8.2% in US dollar terms since inception and an annualized return of 64% over the last three years in USD terms, ranking as the best-performing market in the region on the basis of three-year returns, Pakistan’s stock market continues to demonstrate both resilience and long-term growth.
The proceeds raised through the IPO will support SELECT's strategic growth initiatives, including expanding its manufacturing capabilities, strengthening product innovation, and enhancing its market presence. As it continues to deliver state-of-the-art smartphones and consumer appliances for the Pakistani market, SELECT is poised for significant success.
It is a privilege to welcome Select Technologies Limited to the Pakistan Stock Exchange.
Mr. Farrukh H. Sabzwari, Managing Director and CEO of PSX
