Sitara Petroleum Service Limited has been listed on the Pakistan Stock Exchange (PSX) after successfully completing its Initial Public Offering (IPO), which raised approximately Rs4.8 billion and marked one of the strongest investor responses in recent years.

The IPO—Pakistan’s 10th of 2026—attracted nearly 25,000 applications across both institutional and retail segments, reflecting unusually high participation.

The book-building portion, consisting of 126 million shares, was fully subscribed within 8 minutes and oversubscribed by 7 times. The retail portion of 42 million shares was oversubscribed by 3.4 times, receiving around 24,000 applications nationwide.

In total, the offering comprised 279.9 million ordinary shares, representing 16.66% of the company’s post-IPO capital structure. This included a Pre-IPO placement of 111.9 million shares, which raised about Rs1.66 billion at Rs14.85 per share, and an IPO tranche of 168 million shares.

The IPO floor price was set at Rs13.50 per share, but strong demand during book building pushed the final strike price to Rs18.90 per share, hitting the upper price band and lifting the overall transaction size to about Rs3.17 billion at strike price valuation.

The issue drew participation from institutional investors, corporates, high-net-worth individuals, and retail investors, indicating broad-based market confidence in the company’s growth outlook.

Arif Habib Limited and Integrated Equities Limited served as joint lead managers for the transaction.

Company executives said the IPO proceeds would support expansion in fuel retail operations, logistics capacity, and service infrastructure, while strengthening long-term growth plans.

Market participants described the offering as one of the most heavily subscribed IPOs in Pakistan’s capital market history.