Select IPO: Select Technologies Raises PKR 3.02 Billion in Successful Pakistan Stock Exchange Listing
Technology manufacturer secures strong investor demand as its IPO closes with a 21% premium and a 3.23-times oversubscription.
Officials celebrate the successful listing of Select Technologies Limited at the Pakistan Stock Exchange.
Select IPO concluded successfully as Select Technologies Limited (SELECT) raised PKR 3.02 billion through its Initial Public Offering (IPO), marking one of Pakistan’s most significant technology-sector listings and reflecting strong investor confidence in the company’s growth strategy.
The IPO comprised 88.9 million ordinary shares, representing 10% of the company’s post-issue paid-up capital. While the floor price was set at PKR 28 per share, strong institutional demand during the book-building process pushed the strike price to PKR 34, a 21% premium over the minimum price.
The offering attracted broad participation from commercial banks, mutual funds, insurance companies, investment banks, pension and employee funds, brokerage firms, corporate investors, high-net-worth individuals and retail investors. The IPO closed with a 3.23-times oversubscription, drawing participation from nearly 13,000 investors.
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The successful listing highlights growing investor confidence in Pakistan’s technology manufacturing sector and reinforces the increasing depth of the country’s capital markets. The company said the proceeds will fund strategic expansion, strengthen manufacturing capacity, accelerate product innovation and enhance its presence in Pakistan’s smartphone and consumer appliance market.
Speaking at the gong ceremony, Pakistan Stock Exchange (PSX) Managing Director and CEO Farrukh H. Sabzwari welcomed Select Technologies as the exchange’s first listing of the new fiscal year.
He said the listing followed a landmark year for the PSX, with 11 IPOs completed during FY2026, the third-highest annual total in 25 years, raising USD 66 million. He added that the exchange recorded an all-time high average daily traded value of USD 205 million (approximately PKR 57 billion) across 537 listed companies, while market capitalisation reached a record PKR 21 trillion in January 2026 before closing the fiscal year at PKR 20.20 trillion, equivalent to 16% of Pakistan’s GDP.
Sabzwari also noted that the investor base expanded to a record 583,052 accounts, with approximately 16,000 new accounts opened every month, compared with 5,290 monthly additions in the previous year.
He added that the KSE-100 Index has delivered an annualised return of 8.2% in US dollar terms since inception and 64% over the past three years, making Pakistan the region’s best-performing equity market based on three-year returns.
Securities and Exchange Commission of Pakistan (SECP) Commissioner Zeeshan Rehman Khattak said the regulator remains committed to simplifying the listing process while maintaining strong investor protection standards. He described Select Technologies’ listing as a positive step towards diversifying Pakistan’s economy and strengthening its capital market ecosystem.
AirLink Communication Limited Chairman Aslam H. Piracha said the listing marked an important milestone for both Select Technologies and the AirLink Group, reflecting investor confidence in the company’s strategy while reinforcing its commitment to strong corporate governance and transparency.
Select Technologies Chief Executive Officer Adnan Aftab said the successful listing validates the company’s position as a leading local technology manufacturer and will support its long-term vision of innovation, quality and sustainable shareholder value.
Arif Habib Limited Chief Executive Officer Shahid Ali Habib said the strong response from institutional and retail investors demonstrated confidence in Select Technologies’ business model and future growth prospects.
The successful IPO adds momentum to Pakistan’s capital markets while strengthening investor interest in locally manufactured technology products and the country’s expanding digital economy.
