Select Technologies Limited marked its formal debut on the Pakistan Stock Exchange with a traditional gong ceremony, becoming the first listing of the new fiscal year after completing an initial public offering that drew strong demand across both its book building and retail subscription phases. The offering raised Rs3.02 billion through the sale of 88.9 million ordinary shares, representing 10 percent of the company’s post issue paid up capital.
The IPO’s floor price was set at Rs28 per share, with the book building process discovering a strike price of Rs34, a 21 percent premium over the floor. Arif Habib Limited, which managed the transaction, said the offering saw participation from around 13,000 investors and was oversubscribed 3.23 times overall, drawing interest from commercial banks, mutual funds, insurance companies, investment banks, pension and employee funds, brokerage houses, high net worth individuals, and retail investors.
Speaking at the ceremony, Pakistan Stock Exchange Managing Director and Chief Executive Officer Farrukh Sabzwari said welcoming Select Technologies marked a fitting start to the new fiscal year, describing the company as one designing and building high quality technology based products domestically. He noted that the exchange closed fiscal year 2026 with 11 new listings, the third highest count in 25 years, raising a combined 66 million dollars, while average daily traded value reached an all time high of around Rs57 billion across 537 listed companies. He added that market capitalisation touched a record Rs21 trillion in January before closing the year at Rs20.20 trillion, equivalent to 16 percent of GDP, with the exchange’s investor base reaching an all time high of 583,052 accounts and the KSE-100 Index delivering an annualised dollar return of 64 percent over the past three years, ranking it the best performing market in the region on that basis.
Securities and Exchange Commission of Pakistan Commissioner Zeeshan Rehman Khattak said the regulator remains committed to making the listing process seamless for companies seeking to access capital markets, adding that Select Technologies’ listing reflects progress in diversifying Pakistan’s economy and strengthening its capital market ecosystem. Air Link Communication Limited Chairman Aslam H Piracha described the listing as a significant milestone for both Select Technologies and the wider Air Link Group, while Select Technologies Chief Executive Officer Adnan Aftab said the listing validated the company’s position as a leading local manufacturer in the consumer technology space and would help it play a larger role in Pakistan’s industrial growth going forward.
Select Technologies, a subsidiary of Air Link Communication Limited, manufactures and assembles smartphones and consumer appliances domestically, and plans to use the IPO proceeds to expand its manufacturing capabilities and strengthen its product lineup. The listing adds to a broader wave of technology and manufacturing companies going public on the Pakistan Stock Exchange over the past year, with officials pointing to the exchange’s record breaking activity in fiscal year 2026 as evidence of deepening investor confidence in Pakistan’s capital markets heading into the new fiscal year.
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