Tasdeeq, a company that gives credit information, got approval from SECP to be listed publicly.
BY Mahnoor | 22-07-2026
KARACHI: Pakistan’s SECP has approved the first IPO for fiscal year 2026-27, allowing Tasdeeq Information Services Limited to sell shares to the public.
The regulator’s new management, which started in February 2026, sped up the IPO process. Last year, 10 companies listed on the Pakistan Stock Exchange, raising Rs18.39 billion. Shankar Talreja from Topline Securities called it a 20-year high for listings.
Tasdeeq is a credit bureau licensed by the State Bank of Pakistan. It collects, keeps, and shares credit information about individual and business borrowers for member banks and financial companies. This helps lenders check risk and make smart choices. The company also has an app for people to see their own credit scores.
Under the approved plan, Tasdeeq will offer 150 million common shares at a face value of Re1. This is about 15.79% of the company after the IPO. The sale will use the book-building method. The lowest price is Rs1.90 per share, and the highest price can be about 57.89% more, or Rs3 per share.
75% of the issue, or 112.5 million shares, is kept for big investors and very rich people. The other 25%, which is 37.5 million shares, will be sold to regular investors at a price set through book building. The part for regular investors is fully guaranteed by banks. In a separate sale before the IPO, small shareholders have agreed to sell 69 million common shares, which is about 7.26% of the company after the IPO, at Rs2.35 per share. The transfer of these shares will happen within five working days after the public subscription, if the regulators give final approval.
Topline Securities is the main manager and book runner. The draft prospectus was put on the Pakistan Stock Exchange website at the end of June for public comments.
Market participants think the listing is important for more than just raising money. Mohammed Awais Ashraf, Research Director at AKD Securities, noted that a credit bureau overseen by the central bank helps shift lending from using collateral to using data. By looking at borrower histories and creating credit scores and analytics, such infrastructure improves screening and supports automated loan decisions, especially for individuals.
Pakistan’s stock market has done better than its regional peers and other assets for the third year in a row in FY26, helped by more political stability and improving economic signs. This improvement has brought back interest in public listings. Ashraf said a growing number of IPOs makes the market deeper, gives more investment choices, and boosts investor confidence even when raising money remains the main goal for companies.
Shankar Talreja said that listing is good for companies that want to get money from the stock market because prices are low. “Some need money to grow, some need money for daily operations, and this helps the economy,” he said.
Zirar Khalid, who studies the credit market at Topline, explained the company’s main job. When banks, microfinance groups, or digital lenders like easypaisa check a loan request, they ask Tasdeeq for a credit report. The company has lots of information about people and businesses, and has an app that lets people see their own credit score. The regulator said new rules, simpler steps, faster approvals, and more digital tools have made it easier for companies to list on the stock exchange. As part of its plan to grow the capital market, the SECP holds IPO events across the country with market partners to teach possible issuers about listing and the benefits of getting money through the stock market.
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