Pakistan’s fashion brand Khaadi Pakistan Ltd. plans a record initial public offer next month to fund outlet expansion, raising between 6.2 billion and 8.3 billion rupees ($30 million). At maximum price, it would be the country’s largest offering by a private company, surpassing Chinese tire venture Service Long March’s share sale earlier this year.
The IPO comes as Pakistan sees a record year for IPOs, with 13 deals raising a record 24.9 billion rupees, according to Bloomberg data. A stock rally in 2024-2025 and surging retail participation are drawing companies back to the equity market.
Khaadi, founded by Shamoon Sultan in 1998, has grown from a single store to 31 outlets. The company is shifting from adding branches to investing in larger-format stores and launching new products weekly. Its key market is Pakistan, with operations in the UAE, the UK, and the US. Arif Habib Ltd. is the financial adviser.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing