Karachi: Ghani Dairies Limited (GDL), a subsidiary of the diversified Ghani Group, will raise Rs2.5 billion through an Initial Public Offering (IPO) at the Pakistan Stock Exchange (PSX). The issue consists of 104.2 million ordinary shares (24.28% of post-IPO paid-up capital) with a face value of Re1 each.
75% of the shares (78.15 million) will be offered through the book-building method at a floor price of Rs24 per share, while the remaining 25% will go to retail investors at the strike price.
Proceeds will fund herd expansion by importing 1,000 pregnant heifers, upgrading farm infrastructure, and bolstering working capital. This will lift raw milk production capacity from 17,840 tons per annum in FY2025-26 to 33,570 TPA by FY2026-27 and 38,371 TPA by FY2027-28.
Established in 2020, GDL supplies 100% of its output to leading dairy processors under long-term contracts. The IPO marks the latest listing move in Pakistan’s food and agri sector following Matco Foods’ plan last month to separately list its subsidiary Falak Foods.