Adal Fintech Limited has moved a step closer to listing on the Pakistan Stock Exchange (PSX), after the exchange placed the company’s draft prospectus on its website on November 2, 2026, inviting public comments on the planned initial public offering (IPO).
What happened?
The PSX published Adal Fintech’s draft prospectus and invited stakeholders and members of the public to submit written comments by the close of business on Friday, November 6, 2026. The listing would make Adal Fintech one of the country’s first pure-play technology product companies on the PSX Main Board.
Key details
- Offer size: 50,160,003 ordinary shares, representing 10% of the company’s post-IPO paid-up capital, with a face value of Rs1 each.
- Price band: floor price of Rs8.75 per share and a cap price of up to Rs13.00 per share.
- Structure: 75% of the issue (37,620,002 shares) through book building for institutional investors, and 25% (12,540,001 shares) for the general public at the strike price, fully underwritten by Arif Habib Limited, which is also the lead manager and consultant.
- Net proceeds at the floor price are estimated at approximately Rs438.9 million, to be deployed over 18 to 24 months, including product and model development.
- About the company: founded in June 2021 by MIT alumni Salman Akhtar and Kewan Qadre Khawaja, Adal Fintech provides AI-driven digital lending infrastructure as a technology partner to banks including UBL, Allied Bank, Askari Bank, JS Bank, MCB Bank, Bank AL Habib, Faysal Bank and The Bank of Khyber. Its revenue grew to Rs566.92 million in calendar year 2025, when it recorded its first full year of profitability with profit after tax of Rs107.71 million.
What it means for people in Pakistan
A listing by a homegrown fintech would give ordinary investors a chance to own a share of Pakistan’s digital lending story and signal growing confidence in local technology companies. For small businesses and borrowers, a stronger, better-funded Adal Fintech could mean wider access to data-driven, Shariah-compliant and small-business lending through partner banks across the country.
Source: https://mettisglobal.news/Adal-Fintech-moves-closer-to-PSX-listing-64713
