First IBL Modaraba plans new subsidiary to explore electric vehicle mobility business

First IBL Modaraba plans to set up a subsidiary to examine opportunities in electric-vehicle mobility and related activities, according to a filing reported by Profit by Pakistan Today. The company said its board gave initial approval at a meeting on October 27, 2026, and the notice was submitted to the Pakistan Stock Exchange on November 6.

The proposed venture could also pursue allied businesses, trading and other commercial opportunities, but the filing gives no details on its intended operations, funding, ownership or capital structure. First IBL Modaraba said it must secure regulatory clearances and fulfil legal requirements before the subsidiary can be formed. The plan signals an exploration of activities beyond the company’s current operations, while the specific scale and form of any EV-related business remain undisclosed.