Ghani Dairies IPO opens via Book Building

January 27, 2026 (MLN): The Securities and Exchange Commission of Pakistan (SECP) and Pakistan Stock Exchange (PSX) have approved the issuance and publication of the Prospectus for the Initial Public Offering (IPO) of Ghani Dairies Limited (GDL).

The IPO consists of 104,200,000 ordinary share.

The IPO is being conducted through the Book Building method, with 75% of the shares (78,150,000 shares) offered to eligible institutional participants, and the remaining 25% (26,050,000 shares) allocated for retail investors.

The floor price for book building has been set at Rs24 per share, with a price band extending up to Rs33.60 per share, according to the notice from the PSX.

Eligible participants can register with PSX to participate in the book building process. Registration will remain open from January 28 to February 3, 2026, until 3:00 PM on the last day.

Interested participants must submit their expression of interest to the National Clearing Company of Pakistan Limited (NCCPL) along with the required margin deposits.

The bidding period for institutional investors is scheduled from February 2 to February 3, 2026, from 9:00 AM to 5:00 PM.

NCCPL will handle the collection of bid margins, processing of successful bids, and refunds for unsuccessful bids on February 4, 2026.

Ghani Dairies Limited, based in Khushab, is engaged in the production and sale of raw milk, supplying to dairy processors across Pakistan.

This IPO marks the seventh prospectus approved by SECP in FY 2025–26 and the third in January 2026 alone, showing strong momentum in the capital markets.

The listing of GDL is expected to enhance market transparency and governance, while enabling the company to raise long-term capital for sustainable growth.

The IPO also provides investors with access to detailed disclosures to make informed investment decisions.

This public offering highlights the SECP’s ongoing commitment to a supportive regulatory framework that encourages new listings and strengthens the Pakistani capital market.

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