Select Technologies Limited, a wholly owned subsidiary of Air Link Communication Limited, has officially announced its strategic roadmap to raise 2.489 billion rupees through an initial public offering on the domestic stock exchange. The substantial capital raising initiative forms a core component of the company’s long term operational blueprint to reinforce and expand localized manufacturing ecosystems for smartphones, smart television sets, energy efficient air conditioners, and adjacent consumer electronics within Pakistan. According to formal regulatory clearances, both the Securities and Exchange Commission of Pakistan and the Pakistan Stock Exchange have approved the issuance, circulation, and formal publication of the investment prospectus. The transaction involves the offloading of 88,888,889 ordinary shares, which accounts for exactly 10 percent of the post IPO paid up capital structure of the manufacturing entity, utilizing a standard book building mechanism.
Under the state cleared transaction framework, 75 percent of the offering, translating to 66,666,667 individual shares, will be designated for institutional players and high net worth individuals through the initial book building phase. This institutional tranche features an official floor price established at 28 rupees per share, alongside an upper price cap fixed at 42 rupees per share. The remaining 25 percent slice of the offering, representing 22,222,222 ordinary shares, will be set aside exclusively for retail market participants at the definitive strike price established at the conclusion of the bidding process. Financial advisors confirmed that the general public portion remains fully underwritten to ensure capital security. The official administrative timeline dictates that the registration process for eligible investors spans from June 17 to June 23, 2026, while the bidding window operates on June 22 and June 23, 2026, followed by the general public subscription opening on July 2 and July 3, 2026.
Prominent investment banking institutions Arif Habib Limited and Intermarket Securities Limited are operating jointly as advisors to the transaction, overseeing the equity structuring, coordinating the corporate bidding engine, and managing wider investor outreach programs. Corporate documentation reveals that the financial inflows generated from the public listing will be utilized primarily to finance the construction of a new manufacturing plant located within the high tech Sundar Green Special Economic Zone in Lahore. This upcoming facility will focus heavily on specialized air conditioner fabrication and automated assembly operations. Additionally, the freshly raised capital will fund the technological optimization of existing television production setups, the acquisition of advanced automated machinery for the mobile assembly division, and general corporate working capital buffers to facilitate higher inventory turnover.
The industrial manufacturing house currently commands a significant footprint within the domestic technology sector, operating as a certified local assembly partner for major global electronics corporations including Xiaomi and Hisense. The company maintained a strong position within the regional tech assembly landscape during the fiscal year 2025, capturing a 15.5 percent market share in localized smartphone assembly alongside a 7.7 percent slice of the aggregate domestic mobile device manufacturing industry. Once the newly funded industrial expansions go live, the aggregate annual manufacturing threshold of the company is projected to scale up to 7 million smartphones, 360,000 smart televisions, and 400,000 air conditioner units. Furthermore, the selection of the Sundar Green economic zone affords the company complete income tax exemptions extending until the fiscal year 2035, a regulatory incentive expected to protect corporate net margins and maximize long term shareholder wealth.
Follow the PakBanker Whatsapp Channel for updates across Pakistan’s banking ecosystem.