Select Technologies Limited has received strong investor demand in its initial public offering, with the book-building process oversubscribed by 3.2 times and the final strike price set at Rs. 34 per share, above the floor price of Rs. 28.

The company offered 66.67 million ordinary shares during the book-building phase. The oversubscription and higher-than-floor pricing reflect growing investor interest in Pakistan’s consumer electronics manufacturing sector and the company’s future growth outlook.

Select Technologies is a wholly owned subsidiary of Air Link Communication Limited and operates in the manufacturing and assembly of smartphones, smart televisions, air conditioners, and other consumer electronic appliances in Pakistan. The company is also planning to expand further into higher-margin segments within consumer technology and home appliances.

According to Air Link Communication Limited Group CEO Muzzaffar Hayat Piracha, the strong participation from investors reflects confidence in the group’s long-term strategy focused on expanding local production of smartphones and smart devices.

Arif Habib Limited CEO Shahid Ali Habib said the successful book-building highlights strong market appetite for fundamentally solid companies operating in high-growth industries, particularly those contributing to import substitution and industrial development.

Proceeds from the IPO will be used to finance expansion plans and strengthen Select Technologies’ position in Pakistan’s growing consumer technology and appliances market.