Select Technologies Ltd., a subsidiary of Air Link Communication Ltd., has opened registration for its Rs 2.4 billion Initial Public Offering (IPO), marking a key step in the company’s plan to raise capital for expansion in Pakistan’s consumer electronics manufacturing sector.
Investor registration began on June 17 and will continue until 3 p.m. on June 23, 2026, ahead of the book building process scheduled for June 22-23, 2026.
The IPO comes as the company seeks to strengthen its production capabilities across smartphones, TVs, and air conditioners amid rising demand for locally assembled consumer electronics.
IPO structure and pricing details
According to the prospectus, the IPO comprises 88.889 million ordinary shares, representing 10% of the company’s post-IPO paid-up capital.
The floor price has been set at Rs28 per share, with the price band extending up to 50%, reaching a maximum of Rs42 per share.
At the floor price, the issue size stands at approximately Rs2.489 billion, while the upper price band could allow the company to raise up to around Rs3.7 billion.
Of the total offering, 75% will be allocated through the book building process, while the remaining 25% will be offered to retail investors through the general public portion.
Expansion plans and use of proceeds
Select Technologies Ltd. is engaged in the manufacturing and assembly of smartphones, smart TVs, air conditioners, and other consumer appliances in Pakistan for global brands including Xiaomi and Hisense.
Proceeds from the IPO will primarily be used to support business expansion and diversification, including investment in plant and machinery for air-conditioner assembly, upgrades to smartphone manufacturing facilities, expansion of TV assembly lines, and working capital requirements.
The company is also expanding its footprint into new product categories through its facility at the Sundar Green Special Economic Zone in Lahore.
Market position and capacity outlook
Select Technologies currently holds a 15.5% share in Pakistan’s smartphone assembly sector and accounts for 7.7% of total mobile devices manufactured in FY2025.
Following its planned expansion, the company expects its combined annual production capacity to reach 7 million smartphones, 360,000 televisions, and 400,000 air-conditioner units.
Commenting on the IPO, Shahid Ali Habib, Chief Executive Officer of Arif Habib Ltd., highlighted the offering’s significance for Pakistan’s capital markets.
“Select Technologies provides investors exposure to Pakistan’s growing smart devices and consumer appliances manufacturing space, supported by strong sponsor backing, global brand partnerships and planned expansion into higher-margin product categories. We believe this IPO reflects the increasing role of the capital market in supporting industrial growth, import substitution and technology localization in Pakistan,” he said.
The IPO is being managed by Arif Habib Ltd. and Intermarket Securities Ltd., which are acting as joint consultants to the issue.
Building Pakistan’s electronics manufacturing capacity
Select Technologies Limited operates a large-scale electronics manufacturing facility in Lahore, spanning approximately 250,000 square feet, where it produces smartphones, feature phones, smart televisions, and other consumer electronics for global brands.
The facility is designed to support high-volume production and quality-controlled assembly operations, enabling the company to serve both local and international technology partners.
In the smartphone segment, Select Technologies manufactures devices in Pakistan through partnerships with global brands, including Xiaomi, contributing to the country’s growing electronics assembly ecosystem.
The company reports an annual production capacity of up to 7 million smartphones, positioning it among the key players in Pakistan’s mobile device manufacturing industry.
In the television segment, the company produces smart TVs through partnerships with Xiaomi and Hisense, supporting diversification beyond mobile devices.
Select Technologies has also expanded into home appliances through its collaboration with Hisense International Singapore Holdings Pte. Ltd., enabling local manufacturing and distribution of consumer appliances in Pakistan.
The company’s operations are aligned with broader industry trends focused on import substitution, local value addition, and expansion of Pakistan’s electronics manufacturing base.