The initial public offering of Select Technologies Limited attracted strong investor interest, with the public subscription oversubscribed by 1.73 times, according to tentative subscription figures submitted to Pakistan Stock Exchange. The strong retail response follows an even higher level of demand recorded earlier during the company’s institutional book building phase, reflecting sustained investor confidence in the consumer electronics manufacturer as it prepares for its market debut.
The public subscription window remained open on July 2 and July 3, during which the company received applications for 38.43 million shares against the 22.22 million shares on offer. A total of 12,186 applications were submitted during this period, representing investments worth approximately Rs1.31 billion. According to the tentative allotment summary compiled by CDC Share Registrar Services Limited, investors who applied for 500, 1,000, 1,500, or 2,000 shares will receive full allocation of their requested amounts, while applicants seeking more than 2,000 shares will be allotted shares on a pro rata basis due to the excess demand recorded in that category.
The highest level of demand came from investors applying for more than 2,000 shares, with 1,214 applications requesting a combined 25.38 million shares valued at nearly Rs863 million. Beyond this bracket, the IPO also received 3,391 applications for 500 shares, 3,350 applications for 1,000 shares, 912 applications for 1,500 shares, and 3,319 applications for 2,000 shares, reflecting broad based participation across different investor categories. The figures remain tentative and were compiled using applications received through the Pakistan Stock Exchange and CDC eIPO platforms, with formal allotment expected to follow once the registrar completes its final verification process.
The retail subscription follows an earlier book building phase for the offering, during which institutional investors oversubscribed the issue by 3.2 times, discovering a strike price of Rs34 per share, above the floor price of Rs28. Together, the book building and retail phases are expected to help Select Technologies raise a total of around Rs3.02 billion through the sale of 88.88 million shares, positioning the offering as the first initial public offering of the new fiscal year 2026-27 on the Pakistan Stock Exchange.
Select Technologies Limited, a wholly owned subsidiary of Air Link Communication Limited, manufactures and assembles smartphones, smart televisions, air conditioners, and other consumer appliances in Pakistan. The company plans to use proceeds from the offering to expand its presence in higher margin consumer technology and home appliance segments, including establishing a new production facility for air conditioner manufacturing and expanding its existing capacity for television and smartphone assembly. Industry observers have pointed to the strong demand across both phases of the offering as a sign of continued investor confidence in Pakistan’s growing consumer electronics manufacturing sector, as more companies in the space look to expand local production capacity and reduce reliance on imported finished goods.
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