Select Technologies IPO oversubscribed by 3.2 times

KARACHI: The book-building phase of Select Technologies Limited’s Initial Public Offering (IPO) was oversubscribed by 3.2 times, with the issue fully subscribed at Rs34 per share, above the floor price of Rs28 per share, according to official transaction details.

The company offered 66.67 million ordinary shares through the book-building process, attracting strong investor participation and reflecting robust demand in Pakistan’s capital market.

Select Technologies Limited is a wholly owned subsidiary of Air Link Communication Limited and operates in the manufacturing and assembly of smartphones, smart televisions, air conditioners, and other consumer appliances in Pakistan. The company is also planning to expand into higher-margin consumer electronics and home appliance segments as part of its growth strategy.

Muzzaffar Hayat Piracha, Group CEO of Air Link Communication Limited, said the strong subscription reflects investor confidence in the group’s long-term strategy and local manufacturing vision.

He stated that Select Technologies represents the group’s commitment to building a stronger domestic manufacturing base for smartphones, smart devices, and consumer electronics in Pakistan, adding that the successful subscription is a “vote of confidence” in its strategy and partnerships.

Shahid Ali Habib, CEO of Arif Habib Limited, said the strong response highlights investor appetite for fundamentally sound companies operating in high-growth sectors.

Copyright Business Recorder, 2026