Govt picks around Rs229bn through Sukuk auction via PSX against a target of Rs200bn
MG News | August 21, 2025 at 11:31 AM GMT+05:00
August 21, 2025 (MLN): The Pakistan Stock Exchange (PSX) conducted an auction for
the sale of Government of Pakistan Ijara Sukuk (GIS) bonds, raising Rs228.99
billion against the Rs200bn target set for GIS Variable Rental Rate (VRR), GIS
Fixed Rental Rate (FRR), and GIS FRD.
According to the details made available by the local bourse,
the bids received stood at Rs626.85bn, out of which Rs91.7bn were received for
GIS FRD, Rs327.89bn for GIS VRR and Rs207.21bn for GIS FRR, respectively.a
From the aggregate bids received for the 1-year GIS FRD, Rs67.12bn
was accepted, comprising Rs62.634bn in competitive bids and the remaining Rs4.48bn
in non-competitive bids.
The cut-off price for the respective bond stood at Rs90.56,
which is a rental yield of 10.45%.
For the GIS VRR, a total amount of Rs207.21bn was picked by
the government, with Rs64.05bn raised through the 5-year GIS VRR and Rs143.16bn
from the sale of 10-year variable Sukuk.
Of the total Rs25.5bn was accepted through competitive bids,
while the remaining Rs375.77bn comprised non-competitive bids accepted for the
respective category of GIS bonds.
Meanwhile a total amount of Rs327.89bn from the GIS FRR, out
of which Rs60.3m was raised through the 3-year GIS VRR, Rs57.34bn through
5-year GIS VRR and Rs210bn from the successful auction of 10-year Sukuk.
|
|
Competitive |
Non-Competitive |
Total |
|
GIS FRD |
62,634 |
4,483.095 |
67,117.095 |
|
GIS VRR |
25,500 |
375.010 |
25,875.01 |
|
GIS FRR |
134,028 |
1,969.25 |
135,997.25 |
|
Net Total |
222,162 |
6,827.355 |
138,189.17 |
The breakdown of the target for yesterday's auction shows
that the aim was to raise Rs50m through the sale of 1-year GIS FRD, Rs75m each
for GIS VRR and Rs75m through GIS FRR.
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