Upcoming IPO in Pakistan: ABHI Microfinance Bank book-building 5 and 6 November, retail 12 and 13 November

The next IPO in Pakistan is ABHI Microfinance Bank: 132 million shares at a floor price of Rs 15, with book-building on 5 and 6 November 2026 and the retail subscription on 12 and 13 November. This page lists every upcoming and recent IPO on the Pakistan Stock Exchange (PSX), newest first, and is updated as each company files its prospectus or a date changes.

Last updated: 31 October 2026.

Upcoming IPOs on the PSX

ABHI Microfinance Bank

• Size: about Rs 1.98 billion at the floor, up to about Rs 2.97 billion at the cap.
• Split: 75% (99 million shares) through book-building for institutions and large investors, 25% (33 million shares) for the general public.
• Underwriters of the retail portion: Arif Habib, Topline Securities, Growth Securities and Dawood Equities.
• Why: to grow lending and bring its capital adequacy ratio back above the State Bank's 15% minimum for microfinance banks; the bank projects about 4.3% by end-2026 and 17.8% by end-2027.
• Source: details disclosed to the PSX, as reported by Business Recorder.

The retail price is the strike price set in book-building, so it will be known about a week before the public subscription opens. We will add it here the day it is announced.

Other listings coming to the PSX

Not every listing is a share IPO. The National Grid Company plans a Rs 100 billion sukuk on the PSX, starting with a Rs 20 billion tranche of up to 10 years. It is a debt instrument: you earn a profit rate, not a share of the company. Full story.

Recent IPOs

The SE Fruits case is the reason to read the prospectus before you bid, especially the audited accounts and the risk section, rather than relying on how fast the book fills.

How to apply for an IPO in Pakistan

1. Open a brokerage account or a CDC Investor Account with your CNIC. Most brokers open one online in a few days, so do this before the subscription dates.
2. Read the prospectus on the PSX or SECP website: the use of proceeds, the audited accounts and the risk factors.
3. Apply on the retail dates through your broker, a banker to the issue, or the PSX's online IPO system (PES). You need the full amount for the shares you apply for in your account.
4. Wait for allotment. If the retail portion is oversubscribed, shares are allotted in proportion and the rest of your money is refunded.
5. Listing day: the shares start trading on the PSX after allotment. The price can open above or below the strike price.

Tax on IPO shares

Profit when you sell is taxed as capital gains, and dividends are taxed at source. Our capital gains tax calculator estimates what you pay on a sale. For the wider market, the KSE-100 page has the latest close and history.

This page reports offers as disclosed by the companies and regulators. It is not investment advice.