Barkat Frisian's IPO hits cap in 4 hours with 124.9mn shares bid

February 17, 2025 (MLN): Barkat Frisian's IPO received an overwhelming response, hitting the cap within four hours as the bid volume surged to 124.9 million shares, nearly doubling the available 67.7mn shares.

The highest recorded bid price stood at Rs18.2 per share, well above the floor price of Rs16.38.

Arif Habib Limited stated on its LinkedIn account that 1.5 days remain in the book-building phase.

The book-building process will run through February 18th, with high-net-worth individuals (HNIs) and institutional investors able to subscribe to 100% of the issue size.

However, only 75% of the issue, amounting to 50.8mn shares, will be provisionally allotted to successful bidders during the process.

The remaining 25%, or 16.93mn shares, will be offered to retail investors through the general public subscription, which will take place on February 24th and 25th.

Barkat Frisian Agro plans to use the funds raised from this IPO to build a state-of-the-art production facility at the Special Economic Zone of Faisalabad.

The new plant will increase the company’s production capacity by 71%, growing its annual pasteurized egg output from 17,000 tons to 29,000 tons.

This expansion aims to meet the rising demand from both domestic and international customers.

Copyright Mettis Link News