Sitara Petroleum Service Limited has officially listed on the Pakistan Stock Exchange (PSX) after completing its Initial Public Offering. The listing marks the 10th IPO of 2026 and one of the biggest private-sector entries in recent market history.
The company raised around Rs. 4.8 billion through its combined Pre-IPO and IPO process. Strong investor demand was seen from both institutional and retail participants. The debut on PSX highlights growing confidence in Pakistan’s capital markets.
According to official details, the IPO received nearly 25,000 applications from across the country. This makes it one of the most heavily subscribed public offerings in Pakistan’s stock market history.
The book-building portion included 126 million shares. It was fully subscribed within just eight minutes. It was also oversubscribed by seven times due to strong demand. This performance reflects strong interest in new listings on PSX.
The retail portion also showed strong participation. Around 42 million shares were offered and oversubscribed by 3.4 times. Nearly 24,000 applications were received from retail investors.
Overall, the offering included 279.9 million shares through Pre-IPO and IPO phases. This represents 16.66 percent of the company’s post-IPO capital structure.
The Pre-IPO phase alone raised about Rs. 1.66 billion at Rs. 14.85 per share. The IPO portion covered 168 million shares, equal to 10 percent of post-IPO capital.
The IPO price range started at Rs. 13.50 per share. Strong demand during book-building pushed the final price to Rs. 18.90 per share. This hit the upper limit and increased the total IPO size significantly.
The successful listing on PSX attracted institutional investors, corporate buyers, high-net-worth individuals, and retail investors. Analysts say this reflects strong market confidence in the company’s long-term growth plans.
Officials from Arif Habib Limited and Integrated Equities Limited served as joint lead managers for the transaction. They highlighted strong participation despite global economic challenges.
During the listing ceremony, representatives noted that retail investor participation in PSX has now grown to around 545,000 accounts. Awareness efforts among younger investors have supported this increase.
Company officials said the listing will help expand its fuel network, logistics operations, and service infrastructure across Pakistan.
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Market experts described the IPO as one of the most successful offerings in PSX history, driven by strong oversubscription and broad investor interest.
