Select Technologies Limited Announces Tech IPO to Expand Manufacturing Growth in Pakistan
Karachi: Select Technologies Limited has announced a Tech IPO to raise PKR 2.489 billion for expanding its manufacturing operations in Pakistan. The company is a wholly owned subsidiary of Air Link Communication Limited, which is already active in the country’s technology sector. The move reportedly marks a major step in strengthening local production of smart devices and consumer appliances.
Moreover, the company aims to enhance its production capacity and diversify its product portfolio. The IPO reflects growing investor interest in Pakistan’s technology manufacturing sector. It also signals confidence in long-term industrial growth. As a result, the listing is expected to attract both institutional and retail investors.
SECP PSX Approvals IPO Structure
The Securities and Exchange Commission of Pakistan (SECP) and the Pakistan Stock Exchange Limited have approved the issuance, circulation, and publication of the IPO prospectus. The offering includes 88,888,889 ordinary shares, representing 10% of post-IPO paid-up capital.
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Additionally, the issue will follow a structured book-building method. Around 75% of shares will be offered to eligible investors, while 25% will go to retail investors. The retail portion will be fully underwritten, ensuring subscription stability. Consequently, the structure aims to balance institutional confidence with public participation.
Tech IPO Book Building Process
The Tech IPO book-building process will offer shares at a floor price of PKR 28.00 per share. The price band may increase up to 50%, reaching a cap of PKR 42.00 per share. This mechanism allows market-driven price discovery.
Furthermore, registration of eligible investors will begin on June 17, 2026, and close on June 23, 2026. Book building will take place on June 22 and June 23, 2026. Public subscription is scheduled for July 2 and July 3, 2026. Arif Habib Limited and Intermarket Securities Limited are acting as joint consultants.
Air Link Expansion Manufacturing Strategy
The IPO proceeds will be used to establish a new production facility at Sundar Green Special Economic Zone in Lahore. This facility will focus on air conditioner manufacturing and assembly expansion. Additionally, Select Technologies plans to expand its TV production line and invest in smartphone machinery.
Moreover, working capital requirements will also be supported through the raised funds. The company is engaged in assembling smartphones, smart TVs, and air conditioners in Pakistan. It manufactures products for global brands including Xiaomi and Hisense. As a result, the expansion is expected to strengthen supply chain efficiency.
Pakistan Technology Manufacturing Growth
Select Technologies already holds a 15.5% share in smartphone assembly and 7.7% in total mobile device manufacturing in FY2025. Post-expansion, annual production capacity is expected to reach 7 million smartphones, 360,000 televisions, and 400,000 air conditioners.
Furthermore, the Sundar Green SEZ facility is expected to offer income tax exemption until FY2035. This incentive may improve margins and long-term shareholder value. Therefore, the Tech IPO reflects broader growth in Pakistan’s local manufacturing ecosystem and industrial competitiveness.
