ISLAMABAD — The Securities and Exchange Commission of Pakistan (SECP) has approved the registration and listing of Tasdeeq Information Services Limited (TISL), marking the first Initial Public Offering (IPO) clearance for Fiscal Year 2026–27 (FY27).
The landmark transaction will also make Tasdeeq the first State Bank of Pakistan (SBP)-licensed private credit bureau in South Asia to list on a public stock exchange.
Key Details of the Public Offering
Tasdeeq Information Services is slated to list on the Main Board of the Pakistan Stock Exchange (PSX), backed by Lead Manager and Advisor Topline Securities Limited:
Issue Size: The company plans to issue 150,000,000 ordinary shares (par value PKR 1.00 each).
Pricing Structure: The offering is structured using the Book Building method at a Floor Price of PKR 1.90 per share (including a PKR 0.90 premium), with a maximum price band capping bids at PKR 3.00 per share.
Book Building Allocation: 75% of the total issue (112,500,000 shares) will be offered to institutional and high-net-worth investors during the initial bidding phase to establish the strike price.
Pre-IPO Placement: Ahead of the public launch, minority shareholders signed agreements to place 69,000,000 shares (~7.26% of post-IPO paid-up capital) at PKR 2.35 per share.
100% Digital Retail Subscription: In compliance with updated SECP Public Offering Regulations, physical applications have been entirely phased out. Retail investors will subscribe electronically via the PSX e-IPO System (PES) or the CDC Centralized e-IPO System (CES).
Strategic Significance for Financial Infrastructure
Tasdeeq manages a vast database covering over 42 million unique borrowers across commercial banks, microfinance institutions, and fintech platforms, providing critical data analytics and credit risk scoring models to over 170 financial entities.
Proceeds from the IPO will be utilized to expand Tasdeeq’s technology stack, strengthen AI-driven credit scoring tools, and scale up its digital lending infrastructure to deepen financial inclusion across underserved consumer and SME segments.
Market Outlook: Building on strong equity market momentum from FY26—which saw over Rs. 20 billion raised across 10 corporate listings—SECP’s early approval of Tasdeeq signals continued regulatory momentum to diversify capital market offerings beyond traditional manufacturing and energy sectors.
