Abhi IPO Raises Rs. 2 Billion
ABHI Microfinance Bank has raised about Rs. 2.05 billion through the book-building portion of its IPO, after demand ran past … Read More The post Abhi IPO Raises Rs. 2 Billion appeared first on ProPakistani .
ABHI Microfinance Bank has successfully raised approximately Rs. 2.05 billion through the book-building phase of its IPO, as demand surpassed the shares available, according to data from the Pakistan Stock Exchange and a company announcement. The book-building portion allocated 99 million of the bank's 132 million ordinary shares, priced at a minimum of Rs.
15.00. The indicative strike price stood at Rs. 15.50, with a substantial interest in the form of bids for about 157.17 million shares, representing roughly 159% of the offer at the floor price and 106% at the strike price. The company highlighted that this IPO marks Pakistan's first fintech-driven microfinance bank IPO, drawing considerable bids exceeding Rs.
2.4 billion from diverse investors including foreign funds, local institutions, and high-net-worth individuals. The remaining 33 million shares will be offered to the public at the strike price on November 12 and 13, 2026. ABHI had previously indicated that the entire IPO could raise between Rs. 2 billion and Rs. 3 billion, with the funds allocated towards expanding its loan portfolio and enhancing its capital base.
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