Pak Qatar General Takaful's (PQGTL) initial public offering (IPO) is at least 10 times oversubscribed with the insurer receiving applications for 410.5m shares compared to the issue size of 30m.
The company raised INR420m ($4.65m) through the sale of 30m shares, based on the final price of INR14 per share.
Unprecedented retail demand for the shares increased the public portion of the IPO from 25% to 30%, the first time in Pakistan’s IPO history, said Arif Habib Group, the lead manager, book runner, and consultant for the IPO.
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IPO results
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Number of shares (m)
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Funds received
|
|
Investors
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Applied for
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Original allocation
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Final allocation
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INR bn
|
|
Retail
|
71.668
|
7.5
|
9.0
|
1.00
|
|
Institutions
|
338.850
|
22.5
|
21.0
|
4.74
|
|
Total
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410.500
|
30.0
|
30.0
|
5.74
|
The book-building process was conducted on 21–22 January, with investor registration opened on 16 January. The general public subscription took place on 28–29 January.
PQGTL stated in its IPO prospectus that the proceeds will be used to strengthen its capital base, improve solvency margins, expand its digital distribution network, and support the development of takaful products.
PQGTL is the first dedicated general takaful company to be listed on the Pakistan Stock Exchange (PSX). It currently maintains an issued and paid-up capital of PKR711.07m. The proceeds raised through this public offering will increase the company’s paid-up capital to PKR1.01bn,
Shareholders include Pak-Qatar Investment (Private), Qatar Islamic Insurance Group, Qatar International Islamic Bank and Sheikh Ali Bin Abdullah Al Thani.
The takaful operator is part of the broader Pak-Qatar Group, which also includes Pak-Qatar Family Takaful, which was listed on the PSX in December 2025.