**Lahore:** Select Technologies Limited, a wholly owned subsidiary of **Air Link Communication Limited**, has announced plans to raise **Rs. 2.489 billion** through an Initial Public Offering (IPO) as it seeks to significantly expand its technology manufacturing operations in Pakistan.
The company, known for assembling products for global brands including **Xiaomi** and **Hisense**, aims to use the proceeds to boost its production capabilities in smartphones, televisions, and air conditioners.
## IPO Approved by SECP and PSX
The **Securities and Exchange Commission of Pakistan (SECP)** and the **Pakistan Stock Exchange (PSX)** have approved the issuance of **88.89 million ordinary shares**, representing **10 percent of the company's post-IPO paid-up capital**.
The IPO will be conducted through the **book-building method**.
Under the approved structure:
* **66.67 million shares (75%)** will be offered to institutional and eligible investors. * The **floor price** has been set at **Rs. 28 per share**. * Investors can bid up to **Rs. 42 per share**, representing a maximum price band of 50 percent above the floor price.
The remaining **22.22 million shares (25%)** will be offered to retail investors at the strike price determined through the book-building process. The retail portion of the offering has been fully underwritten.
## Key Dates for Investors
According to the company:
* Registration for eligible investors will run from **June 17 to June 23**. * The **book-building process** will take place on **June 22 and June 23**. * **Public subscription** is scheduled for **July 2 and July 3**.
## New Manufacturing Facility in Lahore
The company plans to use the IPO proceeds primarily to establish a new manufacturing and assembly facility at the **Sundar Green Special Economic Zone (SEZ) in Lahore**.
The new facility will focus on:
* Air conditioner production and assembly * Expansion of television manufacturing capacity * Investment in smartphone production machinery * Working capital requirements
## Major Expansion Plans
Select Technologies currently manufactures and assembles:
* Smartphones * Smart televisions * Air conditioners * Consumer electronics and home appliances
The company presently holds approximately **15.5 percent of Pakistan's smartphone assembly market** and accounted for **7.7 percent of total mobile devices manufactured in the country during FY2025**.
Following the planned expansion, Select Technologies expects its annual production capacity to reach:
* **7 million smartphones** * **360,000 televisions** * **400,000 air conditioners**
## Tax Incentives to Support Growth
The new facility at the Sundar Green Special Economic Zone is also expected to benefit from **income tax exemptions until fiscal year 2035**, which could significantly improve profitability and support the company's long-term growth strategy.
## Strengthening Pakistan's Manufacturing Sector
The IPO represents another positive development for Pakistan's growing technology manufacturing industry, which has seen increasing localization of smartphone and electronics production in recent years.
Industry analysts believe the expansion could help:
* Increase local manufacturing capacity * Create employment opportunities * Reduce dependence on imports * Strengthen Pakistan's electronics and consumer technology sector
The IPO is being jointly managed by **Arif Habib Limited** and **Intermarket Securities Limited**, both of which are serving as consultants to the issue.
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**Category:** Business | Technology | IPO | Manufacturing **Published By:** Pakistan Digital **Author:** Pakistan Digital News Desk