QistBazaar Raises PKR 500 Million Through Landmark Sukuk Deal
KARACHI: QistBazaar has raised PKR 500 million through an unrated, privately placed Sukuk, with Dada Partners (Private) Limited serving as the exclusive financial advisor.
QistBazaar raises PKR 500 million through a privately placed Shariah-compliant Sukuk with Dada Partners as financial advisor
The transaction represents the first issuance under QistBazaar’s planned Sukuk financing programme. It also introduces a Shariah-compliant capital-market structure for the fintech company’s buy-now-pay-later (BNPL) business.
Dada Partners Leads Financing Process
Dada Partners advised QistBazaar throughout the transaction. Its role covered the development of the financing concept and the structuring of the Sukuk.
The advisory work also included marketing materials and a targeted investor roadshow. Dada Partners then supported the process through investor commitments, subscription and final disbursement.
Leading corporate and high-net-worth investors fully subscribed to the PKR 500 million issuance. They participated through a dedicated private placement fund vehicle.
Shazad Dada Highlights Investor Interest
Shazad Dada, Founder and Managing Partner of Dada Partners, said the firm remains focused on developing financing solutions for its clients.
“Dada Partners is committed to providing innovative solutions to help our clients meet their financing objectives,” he said.
Dada added that the transaction reflects growing interest among institutional and private investors in structured Shariah-compliant financing instruments.
Trump Says Iran War May Be Nearing End as Houthi-Saudi Fighting Escalates
QistBazaar Seeks Alternative Growth Funding
Dada Partners worked closely with QistBazaar’s management to develop the financing structure. The company operates in Pakistan’s growing fintech and BNPL market.
QistBazaar CEO Arif Lakhani said the transaction could provide startups with an alternative to raising capital through repeated equity dilution.
“Dada Partners’ innovative Sukuk deal proves startups don’t have to keep diluting equity to grow,” Lakhani said.
He described the transaction as a potential new funding route for Pakistan’s startup ecosystem.
Multiple Partners Support Transaction
Several financial and advisory institutions participated in the transaction. The partners included Akhund Forbes, Alfalah Asset Management Company, Pak Brunei Investment Company Limited and Al Hamd Shariah Advisory Services.
The PKR 500 million issuance adds to Dada Partners’ recent advisory work in Pakistan’s capital and private markets. It also highlights the expanding use of Shariah-compliant financing structures within the country’s fintech sector.
