KARACHI: The Securities and Exchange Commission of Pakistan (SECP) and the Pakistan Stock Exchange Limited (PSX) have approved the prospectus for the Initial Public Offering (IPO) of Select Technologies Limited, paving the way for the issuance and circulation of 88,888,889 ordinary shares. Scheduled to proceed through the Book Building method, the IPO marks a significant development for the company in obtaining capital from public markets.

According to the prospectus, 75% of the issue size, equating to 66,666,667 shares, will be available through the Book Building process at a floor price of PKR 28.00 per share. The maximum price band is set at PKR 42.00 per share. The designated market category for this IPO will involve Eligible Participants, as outlined under the Public Offering Regulations of 2017. These participants are required to either register with PSX or confirm their existing registration status.

The Book Building process is slated to open for registration on June 17, 2026, and will close on June 23, 2026. Eligible Participants, particularly those who are Clearing Members of the National Clearing Company of Pakistan Limited (NCCPL), must provide specific mandatory information, including contact details, to complete their registration. Additionally, they are required to express interest in participating in the Book Building System by emailing NCCPL, with a clear indication of their participation in the "Book Building Auction."

According to information available from the Pakistan Stock Exchange (PSX), a Joint Procedure has been established by PSX and NCCPL to guide participants through the Book Building process. This procedure, approved by SECP, is available for public access online. Furthermore, PSX has released a comprehensive User Manual for its Book Building System to assist participants in navigating the process effectively.

The bidding phase for the IPO is set to commence on June 22, 2026, and conclude on June 23, 2026. During this period, Eligible Participants will be able to submit their bids between 9:00 AM and 5:00 PM. The collection of margin money from participants is scheduled from June 17, 2026, to June 23, 2026, while final collections from successful bidders will occur on June 24, 2026. Refunds for unsuccessful bids will also be processed on the same day.

This IPO represents a strategic opportunity for Select Technologies Limited to expand its capital base and enhance its market presence. The regulatory approvals and structured procedural framework highlight the commitment to transparency and investor protection in this significant financial undertaking.