The initial public offering (IPO) of Select Technologies Limited attracted strong investor demand, with the public subscription oversubscribed 1.73 times, according to provisional figures submitted to the Pakistan Stock Exchange (PSX).

Investors applied for 38.43 million shares against the 22.22 million shares available during the public subscription held on July 2 and 3. The offering received 12,186 applications worth approximately Rs. 1.31 billion, highlighting robust retail investor interest in the consumer electronics manufacturer.

Based on the tentative allotment summary, applicants seeking 500, 1,000, 1,500, and 2,000 shares will receive full allocation. Those who applied for more than 2,000 shares will be allotted shares on a pro-rata basis due to excess demand.

The strongest demand came from larger investors. A total of 1,214 applications for more than 2,000 shares sought 25.38 million shares worth nearly Rs. 863 million. The IPO also received 3,391 applications for 500 shares, 3,350 for 1,000 shares, 912 for 1,500 shares, and 3,319 for 2,000 shares.

The subscription data is provisional and was compiled by CDC Share Registrar Services Limited using applications submitted through the PSX and CDC eIPO platforms.

Earlier, the company’s book-building phase was oversubscribed 3.2 times, with institutional investors setting a strike price of Rs. 34 per share, above the floor price of Rs. 28.

Select Technologies, a wholly owned subsidiary of Air Link Communication Limited, manufactures smartphones, smart televisions, air conditioners, and other consumer electronics in Pakistan. The company intends to use the IPO proceeds to expand its footprint in higher-margin consumer technology and home appliance businesses.