Adil Ali’s Barkat Frisian shatters PSX records with historic IPO

February 18, 2025 (MLN): In a historic milestone for the Pakistan Stock Exchange (PSX), Barkat Frisian Agro Limited’s IPO witnessed an overwhelming response, attracting Rs14.25 billion in participation and achieving the highest oversubscription in PSX history at 16.2x within just 1.5 hours of launch.

Shahid Ali Habib, CEO of Arif Habib Limited, lauded the exceptional success of the IPO and praised the young entrepreneur Muhammad Adil Ali for his unwavering vision and resilience in transforming Pakistan’s agri-business landscape.

At 37, Adil Ali has set a new benchmark in entrepreneurship by establishing Pakistan’s first and only pasteurized egg manufacturing business. 

His journey began in 2017 when he convinced a Dutch partner—who initially declined—to collaborate and introduce advanced processing technology to Pakistan.

 By 2019, Barkat Frisian Agro Limited became a reality through an initial Rs300 million equity investment, overcoming multiple financial hurdles.

His persistence, dedication, and ability to build trust ultimately led to the establishment of Pakistan’s first and only pasteurized egg manufacturing business in 2019.

Coming from a family with deep roots in the poultry and textile sectors, Adil took a bold, independent step by diversifying into an entirely new industry. 

Unlike many business heirs who seek opportunities abroad, he chose to invest in Pakistan’s potential, reaffirming his belief in the country's future.

Between 2017 and 2019, Adil and his foreign partner committed approximately Rs300mn in equity, supplemented by long-term financing, to bring this pioneering venture to life. Initially, several banks declined to support the project, but Adil remained persistent, ultimately securing the necessary funding to turn his vision into reality. 

Through relentless effort and strategic growth, the company took another ambitious step—raising equity from the Pakistan Stock Exchange with the support of Arif Habib Limited to expand its plant.

 Today, it has reached a market capitalization of Rs5.6bn through an IPO.

With a commanding 78% ownership stake (Rs4.4bn) and having fully repaid all long-term debt, Adil’s journey is a testament to resilience, innovation, and the immense opportunities Pakistan has to offer.

"I am delighted to collaborate with ambitious entrepreneurs who are dedicated to innovation and growth, not only to expand their businesses but also to contribute to Pakistan’s economic progress," Shahid Ali said.

"I am confident that our investors in the Pakistan Stock Exchange will play a crucial role in creating a mutually beneficial, win-win environment for all stakeholders," he added.

Copyright Mettis Link News