PSX Confirms Full Refunds for SE Fruits IPO Investors

The Pakistan Stock Exchange (PSX) has announced that it has fully refunded all funds collected from investors in the initial public offering (IPO) of SE Fruits and Vegetable Limited. This decision came after the company withdrew its IPO following discrepancies discovered in its prospectus. The PSX made this confirmation on October 22, 2026, in accordance with a directive from the Securities and Exchange Commission of Pakistan (SECP).

Investors who wish to obtain more information or need clarification are advised to reach out to their respective banks or the intermediaries through which they subscribed for the IPO. For general inquiries, investors can contact the exchange directly via listing@psx.com.pk.

SE Fruits and Vegetable Limited received approval from the SECP in September 2026 to launch an IPO for 30 million ordinary shares. The IPO proceeded through the book-building stage, but the SECP halted further actions due to inconsistencies found in the prospectus. A complaint was lodged on September 11, pointing out discrepancies such as unreported sales, missing local sales in the 2024 income tax return, and inconsistencies between reported sales and bank credits.

In response, the company announced on October 13 that it would withdraw its IPO application and resubmit with additional disclosures regarding the transition from a partnership to a public limited company since 1998. The SECP has since initiated a formal investigation to examine the prospectus, the auditor's work, the due diligence performed by the issue consultant, the oversight by the Pakistan Stock Exchange, and the regulator's approval procedures.