Pakistan's fintech AdalFi plans PSX IPO next month: report

Pakistan-based digital lender AdalFi is preparing a Pakistan Stock Exchange IPO next month, Business Recorder reported, citing Bloomberg. The company aims to raise up to Rs652 million through newly issued shares, with proceeds intended to support its Islamic and small-business lending services.

AdalFi uses bank-held transaction data and its own credit-scoring technology to identify customers for digital loans. The report also places the plan amid a stronger 2026 IPO market, mentioning Service Long March Tyres, Ghani Dairies and Select Technologies among companies that have raised or plan to raise funds. AdalFi had secured $7.5 million in funding in February 2023, according to the report.