Sitara Petroleum Service concludes public subscription with Rs2.7bn in bids

MG News | May 15, 2026 at 12:17 PM GMT+05:00

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May 15, 2026 (MLN): Sitara Petroleum Service Limited has received an overwhelming response to its Initial Public Offering (IPO), with the public subscription figures reaching a total of 143,505,000 ordinary shares.

This significant demand comes against an initial issue size of 42,000,000 shares, representing an over-subscription of approximately 3.4 times.

The subscription process, which took place on May 11 and 12, 2026, drew in 23,757 applications from various investor categories via the PSX and CDC e-IPO systems.

The subscription data reveals that the highest volume of interest came from large-scale investors, with applications for more than 2,000 units accounting for over 124 million shares.

Under the established allocation rules, applicants for up to 2,000 shares will have their requests filled in full, while those who applied for amounts exceeding 2,000 units will receive allotments on a pro-rata basis. Total funds generated through these applications amounted to over Rs. 2.71 billion.

The aforementioned information was disseminated through a notification to Exchange, by Arif Habib Limited.

Public Subscription Summary

Application Category of Shares	No. of Applications	No. of Shares	Amount (Rs.)
500	6,582	3,291,000	62,199,900
1000	5,872	5,872,000	110,980,800
1500	1,880	2,820,000	53,298,000
2000	3,623	7,246,000	136,949,400
Above 2,000 Units	5,800	124,276,000	2,348,816,400
Overall Total	23,757	143,505,000	2,712,244,500

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