The Securities and Exchange Commission of Pakistan has approved the first Initial Public Offering of fiscal year 2026-27, allowing Tasdeeq Information Services Limited to proceed with its listing on the Pakistan Stock Exchange. According to the SECP, the regulator has approved the issuance, publication, and distribution of the company’s prospectus, clearing the way for its public offering and marking the formal start of primary market activity for the new fiscal year.
Tasdeeq Information Services operates as a State Bank of Pakistan-licensed credit bureau, providing credit information and data services to its member institutions across the financial sector. The company collects, processes, and shares consumer credit data, a function that enables banks and other financial institutions to assess borrower creditworthiness and manage lending risk more effectively, positioning Tasdeeq as a piece of financial infrastructure that supports lending decisions across the broader banking system rather than a company offering products directly to retail consumers.
As part of the IPO, Tasdeeq Information Services will offer 219 million shares to investors through the capital market, with the offering conducted through the book-building process, a mechanism used to determine the final offer price based on demand expressed by investors during the bidding period rather than a fixed price set in advance. Under the structure of the offering, 75 percent of the shares will be allocated to institutional investors and high-net-worth individuals, while the remaining 25 percent will be made available to retail investors, a split that reflects standard practice for offerings of this scale on the Pakistan Stock Exchange.
The SECP noted that continued improvements in regulatory processes, faster approval timelines, and increased digitalisation have made it easier for companies to access the capital market for growth financing, framing the Tasdeeq approval as an example of these broader reforms translating into concrete market activity. The regulator further highlighted that streamlined procedures are encouraging a growing number of businesses to tap the stock market for capital raising, a trend it said is enhancing overall market participation and strengthening Pakistan’s capital market ecosystem more broadly. The listing of Tasdeeq Information Services as the first IPO approval of FY27 signals renewed activity in Pakistan’s primary equity market, building on a period of increased investor participation and regulatory reforms aimed at improving the efficiency of the country’s capital markets.
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