Abhi Microfinance Bank IPO Book-Building Portion Oversubscribed by 158%

Abhi Microfinance Bank has recorded strong investor interest in its Initial Public Offering (IPO), with the book-building portion receiving subscriptions equal to 158% of the shares on offer during the two-day bidding process held on November 5–6, 2026, at the Pakistan Stock Exchange (PSX).

The successful completion of the book-building phase marks a significant step in the bank’s entry into the capital markets and sets the stage for the upcoming retail offering.

IPO Comprises 132 Million Shares

The IPO comprises 132 million shares, with an indicative price band of Rs15 to Rs22.50 per share.

Under the offering structure, 75% of the shares have been allocated to institutional investors through the book-building process, while the remaining 25% are reserved for retail investors.

Following the completion of book building, the retail subscription will take place on November 12–13, 2026, giving eligible individual investors an opportunity to participate in the offering.

Depending on the final offer price, the IPO is expected to raise between Rs1.98 billion and Rs2.97 billion.

Abhi Expands from Fintech Platform to Microfinance Banking

Abhi began its operations in 2021 with a focus on making financial services more accessible through technology-driven solutions.

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Initially centred on Earned Wage Access (EWA), the business gradually expanded into payroll solutions, salary financing and lending services for small and medium-sized enterprises (SMEs), while building a presence across the Gulf Cooperation Council (GCC) region.

A major development came in 2025 when Abhi acquired FINCA Microfinance Bank, enabling the group to expand beyond embedded financial services into regulated microfinance banking.

The acquisition brought together fintech capabilities and the reach of a licensed banking institution, marking a significant development in the evolution of Pakistan’s financial technology sector.

Bank Focuses on Digital Capabilities and Financial Inclusion

Following the acquisition, Abhi Microfinance Bank underwent a transformation under the Abhi Group, with efforts focused on improving operational efficiency, financial performance and digital capabilities while expanding access to financial services.

The IPO represents the bank’s transition into the public markets and the next phase of its growth strategy.

As the retail subscription approaches, the offering marks another milestone in the development of a fintech-led business into a broader financial services institution, with financial inclusion remaining central to its stated vision.