The Select Technologies PSX listing on 13 July 2026 gave Pakistan its first tech-sector IPO of the new fiscal year, raising Rs 3.02 billion in one of the country’s largest equity offerings from a local tech firm. Parent company AirLink has been on an ambitious expansion drive, and this listing marks a fresh chapter for its manufacturing subsidiary.
What Select Technologies Actually Does
Select Technologies makes and assembles smartphones, smart TVs, air conditioners, and other consumer appliances inside Pakistan. The company assembles and manufactures smartphones and other consumer electronics in Pakistan, with partnerships with brands such as Xiaomi for smartphone production, as part of a broader push to boost local electronics manufacturing and reduce the country’s reliance on imported finished devices.
The company has also developed partnerships with global brands including Hisense, positioning itself to play a larger role in Pakistan’s shift towards local production of consumer electronics.
Select Technologies is the manufacturing arm of Air Link Communication Limited, a well-known name in Pakistan’s mobile phone distribution and retail space. Think of Select as the factory side of the AirLink business: it builds the devices that AirLink then sells across the country.
Select Technologies PSX IPO Terms at a Glance
The offering comprised 88.9 million ordinary shares, representing 10% of the company’s post-issue paid-up capital. While the floor price was fixed at Rs 28 per share, robust demand during the book-building process resulted in a strike price of Rs 34 per share, reflecting a 21% premium over the floor price.
During the book-building phase, 66.67 million shares, equivalent to 75% of the total offer, were fully subscribed at the strike price of Rs 34 per share, reflecting demand from institutional investors and high-net-worth individuals. The remaining 22.22 million shares, representing 25% of the issue, were then offered to the general public at the same strike price.
The IPO witnessed 3.23 times oversubscription with participation from around 13,000 investors, reflecting the market’s confidence in the company’s business model and growth potential.
The company noted that the IPO offers investors an opportunity to participate in a Shariah-compliant business supported by local manufacturing, strategic global partnerships, and a technology-driven growth strategy.
Where the Money Goes
The Rs 3.02 billion raised is not sitting idle. The IPO proceeds will primarily be used to finance the establishment of a new state-of-the-art production facility at Sundar Green Special Economic Zone, Lahore, for the manufacturing and assembly of air conditioners. The proceeds will also support expansion of the company’s TV production line, investment in smartphone plant and machinery, and working capital requirements.
For everyday Pakistanis, this matters. Locally made ACs, smart TVs, and smartphones mean lower prices and less foreign-exchange pressure compared to fully imported goods. Every unit assembled in Lahore instead of abroad helps Pakistan’s import bill.
What This Signals for Pakistan’s Capital Markets
Officials at the listing ceremony were upbeat. PSX Managing Director and CEO Farrukh H. Sabzwari said the listing marked the first IPO of the new fiscal year and highlighted the growing strength of Pakistan’s capital market.
FY2026 delivered 11 IPOs, the third highest in 25 years, raising USD 66 million, while average daily traded value reached an all-time high of USD 205 million across 537 listed companies. Market capitalisation touched a record Rs 21 trillion in January 2026, closing the year at Rs 20.20 trillion, equivalent to 16% of GDP, with the investor base reaching an all-time high of 583,052 accounts.
SECP Commissioner Zeeshan Rehman Khattak said the successful listing reflected continued efforts to facilitate companies seeking growth through public offerings while ensuring investor protection. The SECP and the Pakistan Stock Exchange have both pushed to make the listing process faster and more accessible, and the Select Technologies IPO is an early sign that those reforms are attracting quality issuers in FY27.
The bigger picture is that Pakistan’s tech manufacturing sector is slowly finding its way to public capital. Most IT and tech firms here remain privately held. A successful Select Technologies PSX debut, especially one oversubscribed more than three times, could encourage other local tech manufacturers to consider listing in the months ahead.
Frequently Asked Questions
What does Select Technologies make?
Select Technologies manufactures and assembles smartphones, smart TVs, air conditioners, and other consumer appliances inside Pakistan. It works with global brands including Xiaomi and Hisense and is a wholly owned subsidiary of Air Link Communication Limited.
How big was the Select Technologies PSX IPO?
The company raised Rs 3.02 billion (roughly USD 11.5 million) by selling 88.9 million shares. The strike price was set at Rs 34 per share after book-building, which was 21% higher than the Rs 28 floor price. The IPO was oversubscribed 3.23 times.
When did Select Technologies list on the PSX?
The gong ceremony marking the official listing took place on 13 July 2026 at the Pakistan Stock Exchange in Karachi, making Select Technologies the first company to list on the PSX in fiscal year 2026-27.
Will other tech companies follow and list on the PSX in FY27?
No specific firm has publicly confirmed a near-term IPO at the time of writing, but the strong investor response to the Select Technologies PSX debut, together with the PSX and SECP’s ongoing push to streamline listings, suggests the pipeline for tech-sector IPOs is growing. FY26 already set a 25-year high for new listings, so momentum is clearly building.
