Citi Pharma Limited has officially greenlit the initial public offering (IPO) of its wholly owned subsidiary, Citi Veterinary Pharma Limited, targeting a capital raise of between Rs. 1.0 billion and Rs. 2.0 billion. The decision was announced through a material information notice submitted to the Pakistan Stock Exchange on March 3, 2026, confirming the company’s Board of Directors’ approval to initiate the IPO process.
To manage the IPO, Citi Pharma has appointed K Trade Securities Limited as Consultant to Issue, emphasizing the company’s goal to list the subsidiary at the earliest possible opportunity. This strategic move is part of Citi Pharma’s broader plan to diversify its revenue streams within the pharmaceutical industry by expanding into the veterinary segment.
Citi Veterinary Pharma Limited has been established as a dedicated entity focused on the manufacturing and trading of veterinary active pharmaceutical ingredients (APIs) and other pharmaceutical products for the local market. The subsidiary aims to capture growing demand in Pakistan’s animal health sector, positioning itself as a key player in veterinary healthcare solutions.
The company expects Citi Veterinary Pharma to generate approximately Rs. 1.50 billion in revenue from veterinary product trading in FY26, reflecting strong growth ambitions and a focus on capitalizing on the expanding veterinary pharmaceutical market. Industry experts note that veterinary pharmaceuticals remain an underpenetrated segment in Pakistan, and the IPO provides a platform for Citi Pharma to raise the necessary capital to scale operations, invest in production capabilities, and strengthen its distribution networks.
The IPO of Citi Veterinary Pharma also signifies Citi Pharma’s commitment to transparency and regulatory compliance, with the Pakistan Stock Exchange serving as the primary listing venue. By offering shares to the public, the company aims to attract institutional and retail investors interested in a high-growth sub-sector of the pharmaceutical industry.
Citi Pharma’s move comes amid increasing attention on the veterinary and animal health segments, driven by rising demand for livestock products, government incentives, and growing awareness of animal welfare. The subsidiary is expected to leverage these trends to expand its market share and deliver consistent revenue growth while contributing to Pakistan’s overall pharmaceutical ecosystem.
Investors and market participants will closely monitor the IPO’s progress, as it represents one of the significant expansions in Pakistan’s veterinary healthcare sector in recent years. The funds raised are expected to enhance Citi Veterinary Pharma’s operational capabilities, facilitate product innovation, and support strategic initiatives to strengthen its position as a leading veterinary pharmaceutical company.
Overall, the launch of this IPO underscores Citi Pharma’s strategic focus on diversification, growth, and investment in high-potential sectors, while providing investors an opportunity to participate in Pakistan’s evolving veterinary pharmaceutical market. The company is poised to leverage its expertise in pharmaceuticals and the growing demand for animal health products to achieve sustainable growth and long-term value creation.
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