Khaadi heads to PSX at 99.2x face value

Khaadi Pakistan Limited has fixed the minimum price for its initial public offering at Rs12.40 per share, according to Mettis Global. The draft prospectus, published on the PSX site on October 8, 2026, sets a price band with an upper limit of Rs18.00. Measured against the Rs0.125 face value, the floor is 99.2 times face value and the cap is 144 times.

The offer comprises 250mn new IPO shares, of which 175mn go through book building and 75mn to retail investors, alongside a pre-IPO placement of 250mn shares to 15 investors. Offer proceeds at the floor total Rs3.1bn, and the sponsor is not selling any shares. Rs1.76bn of that sum will clear interim loans from HBL, Faysal Bank, Askari Bank and Al Baraka Bank, while the balance of Rs1.34bn finances the remaining work on an Experience Store rollout of eight outlets, targeted for 1H CY27.

Khaadi opened its first 400-square-foot store in Karachi in December 1998 and now runs 31 outlets plus an online store, reporting revenue of Rs25.1bn in CY25. Mettis Global notes that the face value was cut from Rs10 to Rs0.125 through a stock split in June 2026, following bonus shares that lifted paid-up capital. Such a split does not alter the ratio between offer price and nominal value, and public comments remain open until October 15, 2026.