Select Technologies IPO subscribed 1.73x

July 07, 2026 (MLN): Select Technologies Limited's initial public offering was oversubscribed by 1.73 times, with investors placing bids for 38,433,500 ordinary shares against an issue size of 22,222,222 shares, according to a letter sent by book-running lead manager Arif Habib Limited to the Pakistan Stock Exchange (PSX) on Tuesday.

The public subscription window ran over July 2 and 3, closing at midnight on both days, and drew a combined 12,186 applications worth Rs 1.31 billion, per figures compiled by registrar CDC Share Registrar Services Limited and reported to Arif Habib Limited on July 6.

Key figures from the Select Technologies Limited IPO subscription, July 2–3, 2026

Allotment: small tickets covered in full, big tickets pro-rated

Under the allotment mechanism confirmed in the letter, applications up to 2,000 shares will be allotted in full, while applications above 2,000 shares will be scaled down on a pro-rata basis.

The category breakdown shows why: the four brackets at or below 2,000 shares, 500, 1,000, 1,500 and 2,000, together drew 13,051,500 shares in demand, comfortably inside the 22,222,222-share issue.

Source: CDC Share Registrar Services Limited, via Arif Habib Limited

Category-wise subscription summary, Select Technologies Limited IPO

Retail brackets outnumber large tickets, but big money still wins the book

By volume of applications, small investors dominated: the 500-share and 1,000-share brackets alone accounted for 6,741 applications, well over half of the 12,186 total.

But by value, the above-2,000-share bracket, just 1,214 applications, under 10% of the total, accounted for Rs 862,988,000, or 66% of the total amount subscribed.

All categories were priced uniformly at Rs 34 per share, consistent across every bracket in the registrar's summary.

The average application across all categories worked out to roughly 3,154 shares, or about Rs 107,231 per applicant.

CDC's e-IPO channel captured over three-quarters of demand

Of the two electronic subscription channels used, the CDC e-IPO facility (CES) handled the bulk of the book, 9,644 applications for 29,396,500 shares worth Rs 999,481,000, or roughly 76.5% of total shares applied for.

The PSX e-IPO facility (PES) processed the remaining 2,542 applications for 9,037,000 shares worth Rs 307,258,000, about 23.5% of the total.

Channel-wise subscription summary, Select Technologies Limited IPO

Arif Habib Limited described the figures reported to PSX as “tentative,” pending finalisation of the formal allotment.

Formal allotment and refund processing for unsuccessful and partially successful applicants typically follow within the timeline set out in the offering document; a listing date on PSX is expected to be notified separately.

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