Select Technologies Limited (SELECT), a leading Pakistani technology company engaged in the manufacturing and assembly of smartphones and consumer appliances, has successfully completed its Initial Public Offering (IPO), raising PKR 3.02 billion after receiving a strong response from investors during both the Book Building and General Public Subscription phases.
The IPO comprised 88.9 million ordinary shares, representing 10% of SELECT’s post-issue paid-up capital, making it one of the most notable equity offerings in Pakistan’s technology sector.
SELECT IPO Attracts Strong Investor Demand
The IPO floor price was set at PKR 28.00 per share. Following healthy demand during the Book Building process, the strike price was discovered at PKR 34.00 per share, representing a 21% premium over the floor price.
According to the company, the IPO attracted participation from a wide range of investors, including commercial banks, mutual funds, insurance companies, investment banks, pension and employees’ funds, brokerage houses, high-net-worth individuals, corporate investors, and retail investors.
The broad-based participation reflects investor confidence in SELECT’s business fundamentals, growth strategy, and long-term prospects.
IPO Proceeds to Support Expansion and Innovation
The funds raised through the IPO will be used to support Select Technologies’ strategic growth initiatives, including expanding its manufacturing capabilities, strengthening product innovation, and enhancing its market presence.
The company aims to further develop its portfolio of locally manufactured smartphones and consumer appliances while contributing to import substitution and the promotion of high-quality “Made in Pakistan” technology products.
PSX Highlights Strong Capital Market Performance
Speaking at the gong ceremony, Pakistan Stock Exchange (PSX) Managing Director and CEO Farrukh H. Sabzwari welcomed Select Technologies as the first company to list in the new fiscal year.
He noted that FY2026 was a landmark year for the PSX, with 11 IPOs—the third-highest number in the past 25 years—raising approximately USD 66 million.
Sabzwari added that average daily traded value reached a record USD 205 million (around PKR 57 billion) across 537 listed companies, while market capitalization touched a record PKR 21 trillion in January 2026 before closing the fiscal year at PKR 20.20 trillion, equivalent to 16% of Pakistan’s GDP.
He also highlighted the expansion of the investor base to an all-time high of 583,052 accounts, with approximately 16,000 new accounts being opened every month.
SECP Reaffirms Commitment to Capital Market Growth
SECP Commissioner Zeeshan Rehman Khattak said the regulator remains committed to making the listing process more efficient while balancing regulatory requirements with investor protection.
He noted that the successful listing of Select Technologies demonstrates continued progress in diversifying Pakistan’s economy and strengthening the country’s capital market ecosystem.
Company Leadership Welcomes Successful Listing
AirLink Communication Limited Chairman Aslam H. Piracha described the PSX listing as a significant milestone for both Select Technologies and the AirLink Group.
He said the successful IPO reflects strong investor confidence in the company’s strategy and reaffirmed its commitment to maintaining high standards of corporate governance and transparency.
Select Technologies CEO Adnan Aftab called the listing a proud moment for the company, saying it validates its position as a leading local manufacturer in Pakistan’s consumer technology sector.
He added that the company remains focused on innovation, quality, customer trust, and delivering sustainable long-term value to shareholders.
IPO Oversubscribed More Than Three Times
Arif Habib Limited CEO Shahid Ali Habib said the IPO received an overwhelmingly positive response from both institutional and retail investors.
According to him, the offering was 3.23 times oversubscribed and attracted participation from approximately 13,000 investors, highlighting growing confidence in Pakistan’s capital markets and Select Technologies’ future growth potential.
Milestone for Pakistan’s Technology Sector
The successful completion of Select Technologies Limited’s IPO represents a significant milestone for Pakistan’s technology and manufacturing industries. By raising PKR 3.02 billion and securing strong investor participation, the company is well-positioned to expand its manufacturing operations, invest in innovation, and strengthen its role in Pakistan’s growing consumer technology market.