The book-building phase of Tasdeeq’s initial public offering was fully subscribed in a record-shattering two seconds, underscoring fierce demand from institutional investors, foreign funds, and high-net-worth individuals, according to Topline Securities, the consultant to the issue.

The company is offering 112.5 million shares through the book-building process, with a floor price of Rs. 1.90 per share and a cap price of Rs. 3.00 per share. Despite hitting full subscription almost instantly after opening, the book-building window remains open until August 6, 2026, allowing eligible investors to continue placing bids.

Tasdeeq holds the distinction of being Pakistan’s first credit bureau licensed by the State Bank of Pakistan and is one of only two licensed credit bureaus operating in the country. Once listed, it will also become South Asia’s first publicly traded credit bureau.

The company benefits from a business model anchored in regulatory compliance rather than discretionary spending, offering a relatively stable revenue outlook. It is also the only credit bureau in Pakistan to provide a consumer mobile application, giving individuals direct access to their own credit information — a feature that sets it apart in the domestic market.