Wahdat Poultry Farm Limited, a Pakistani poultry company, has announced plans to list on the Pakistan Stock Exchange (PSX), aiming to raise approximately Rs637 million (USD 2.3 million) through an initial public offering (IPO) as the company looks to expand its production capacity and diversify into value-added egg products.
According to a prospectus issued to the PSX on Friday, the company will offer 53.1 million ordinary shares, representing 15.84% of its post-IPO paid-up capital, with the issue priced at a floor price of Rs12 per share, including a premium of Rs10 per share.
“Out of which Rs37,228,200 will be offered for sale by one of the sponsor shareholders Naved Ali Khan, and Rs600,000,000 will be a fresh capital injection in Wahdat to utilise for expansion and working capital.”
The IPO will be conducted through a book-building mechanism, where 70% of the shares will be allocated to institutional investors and high-net-worth individuals, while the remaining 30% will be offered to the general public. The retail portion of the issue will be fully underwritten.
Topline Securities Limited has been appointed as the lead manager for the transaction.
“The proceeds will be utilised to transition Wahdat into a high-value food-tech enterprise. This strategy emphasises capital-efficient expansion to address unfulfilled market demand while strengthening long-term operational resilience and enabling sustainable growth,” read the prospectus.
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Around Rs270 million will be invested in establishing a liquid egg pasteurisation plant, while Rs180 million will be used to expand poultry capacity by adding approximately 100,000 birds. The remaining Rs150 million funds will support working capital requirements and the development of a farm licensing model.
Founded in 2006 and later incorporated as a public limited company, Wahdat Poultry operates as a vertically integrated poultry business engaged in egg production, grading, packaging and distribution. The company currently operates four automated layer farms with a capacity of around 430,000 birds, producing up to 400,000 eggs per day.
Its products are marketed under the “Farm Fresh Eggs” brand and are distributed to around 1,500 retail outlets across major cities, including Karachi, Lahore and Islamabad. The company also supplies eggs to multinational food chains and exports to select international markets.
Financially, Wahdat Poultry has recorded steady growth in recent years, with revenue rising from Rs1.23 billion in FY21 to Rs2.79 billion in FY25, while profit after tax reached Rs241.9 million in FY25.
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