Select Technologies IPO Pakistan seeks Rs. 2.489 billion to expand smartphone, TV, and air conditioner manufacturing at scale

One of Pakistan’s most active consumer electronics assemblers is heading to the stock market. Select Technologies Limited, a wholly owned subsidiary of Air Link Communication Limited, plans to raise Rs. 2.489 billion through an initial public offering on the Pakistan Stock Exchange.

Both the Securities and Exchange Commission of Pakistan and the PSX have approved the offering. The company will issue 88.89 million ordinary shares, representing 10 percent of post-IPO paid-up capital. Furthermore, the offering will proceed through the book-building method.

The structure splits the offering into two tiers. Institutional and eligible investors will receive 66.67 million shares, or 75 percent of the total offering, through book building at a floor price of Rs. 28 per share. The maximum price band sits at 50 percent above the floor, allowing bids up to Rs. 42 per share. Meanwhile, the remaining 22.22 million shares will go to retail investors at the strike price determined through book building. The retail portion is fully underwritten.

The timeline moves quickly. Registration for eligible investors opens on June 17 and runs until June 23. Additionally, the book-building process takes place on June 22 and June 23. Public subscription then follows on July 2 and July 3.

The Select Technologies IPO Pakistan will channel most of its proceeds into a new manufacturing facility at the Sundar Green Special Economic Zone in Lahore. This facility will focus on air conditioner production and assembly. Moreover, funds will also expand television manufacturing capacity, invest in smartphone production machinery, and support working capital requirements.

Select Technologies currently manufactures and assembles smartphones, smart televisions, air conditioners, and other consumer appliances for global brands including Xiaomi and Hisense. The company holds a 15.5 percent share of Pakistan’s smartphone assembly market. It also accounted for 7.7 percent of total mobile devices manufactured in the country during fiscal year 2025.

Following the planned expansion, annual production capacity will target 7 million smartphones, 360,000 televisions, and 400,000 air conditioner units. The Sundar Green facility will additionally benefit from income tax exemptions through fiscal year 2035, directly supporting long-term profitability.

Arif Habib Limited and Intermarket Securities Limited are jointly managing the IPO as consultants to the issue. For investors looking at Pakistan’s growing consumer electronics manufacturing space, this offering provides direct exposure to a company already assembling some of the world’s most recognized technology brands at significant scale.