SECP showcases success stories, eyes 2.5m investors

The Securities and Exchange Commission of Pakistan used the fourth Talk Series session on Tuesday to showcase IPO success stories and set a target of 2.5 million investors. Commissioner Muzaffar Ahmed Mirza said the market has only about 500,000 to 600,000 investors, under one percent of a population near 255 million. He said the regulator is pursuing that aim through simpler market access and broader financial literacy.

Three listed firms described their IPO journeys, with Service Long March Tyres drawing Rs85 billion in bids, 16.7 times oversubscribed, and Select Technologies raising Rs3.02 billion, 3.23 times oversubscribed. Omar Saeed, CEO of Service Long March Tyres, said the company is Pakistan's first and largest maker and exporter of TBR tyres, and its offering drew over 35,000 investors. Proceeds are funding 24.6 percent of a Rs22.56 billion radial tyre project for passenger cars, which is planned to produce two million tyres a year.

Zaheer Baig of Sitara Petroleum Service outlined growth plans covering a Gatti Oil Depot, Capital Smart Motors, EV charging and tyre manufacturing, citing growth capital and stronger credibility as listing benefits. Adnan Aftab of Select Technologies said its shares opened with a 21.4 percent premium on the PSX, and the funds go toward capacity expansion and working capital. Chairman Kabir Ahmed Sidhu said the SECP is simplifying digital onboarding and building a mobile app for first-time investors.