The book-building phase of Select Technologies Limited’s Initial Public Offering (IPO) opened today at the Pakistan Stock Exchange (PSX), marking one of the most anticipated public offerings of 2026. The company is offering 88.89 million ordinary shares, representing 10% of its post-IPO paid-up capital.
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Select Technologies Limited, a wholly owned subsidiary of Air Link Communication Limited, is engaged in the manufacturing and assembly of smartphones, smart televisions, air conditioners and other consumer appliances in Pakistan for global brands including Xiaomi and Hisense.
Under the IPO structure, 75% of the shares (66.67 million shares) are being offered through the book-building process, while the remaining 25% (22.22 million shares) will be allocated to retail investors at the strike price determined through bidding. The floor price has been set at Rs28 per share, with a maximum price band of Rs42 per share.
At the floor price, the company aims to raise approximately Rs2.49 billion, while the amount could increase to nearly Rs3.7 billion if the strike price reaches the upper end of the approved price band.
According to the prospectus, proceeds from the IPO will primarily be used to establish a new air-conditioner manufacturing facility at Sundar Green Special Economic Zone, Lahore, expand television production capacity, upgrade smartphone manufacturing operations and meet working capital requirements.
The company currently holds a notable position in Pakistan’s device manufacturing industry and is pursuing expansion into higher-growth consumer appliance segments. Following the planned expansion, Select Technologies expects its annual production capacity to reach 7 million smartphones, 360,000 televisions and 400,000 air conditioners.
Market participants are closely monitoring the IPO, which is being managed by Arif Habib Limited and Intermarket Securities Limited as joint consultants to the issue. Analysts view the offering as another significant addition to Pakistan’s capital markets and a reflection of growing investor interest in technology-enabled manufacturing businesses.
