IPO at PSX: Wahdat Poultry’s stock price surges 50% to Rs18 per share

Wahdat Poultry Farm Limited’s share price surged by the maximum allowed increase of 50%, hitting upper limit of Rs18 per share on the first of two-day Dutch bidding (book building) process at the Pakistan Stock Exchange (PSX) on Tuesday, according to lead manager of the issue of the shares Topline Securities. The bidding had opened at the minimum (floor) offered price of Rs12 per share. The book building process would culminate on Wednesday (April 22). At the determined strike price of Rs18 per share, the poultry firm would raise a total of Rs955.84 million through selling 53.10 million shares against a minimum target of Rs637.23 million – if the allocated shares were sold at the floor price of Rs12 per share. Also read: Pakistan egg producer eyes to raise Rs637mn via IPO Out of the allotted 53.10 million shares, the firm has announced to sell 70% shares to institutional and high-net worth individual investors through the book building process on Tuesday and Wednesday. Later on in the next week, it will sell the remaining 30% shares to retail investors at the strike price on April 27-28, 2026. Topline Securities CEO Muhammad Sohail said in a text message that Wahdat IPO drew massive investor interest. “Book building oversubscribed by 5 times,” he maintained, receiving investors interest for a total of 182.22 million shares on the first day of the IPO against the offered volume of 37.17 million shares [70% of the shares to be sold to investors through the IPO] to institutional and high-net worth individual investors. “[This is] a clear vote of confidence in Wahdat’s growth story and management strength,” Sohail said. The IPO prospectus of Wahdat Poultry Farm said the company would utilise the funds to be raised through selling the shares to establish a new pasteurisation plant, rearing of additional flock, and increasing working capital for quality assured procurement model. Also read: PSX to witness 16 IPOs in 2026 as 3-year stock rally tops 300%: Bloomberg “The principal purpose of this issue is to finance capacity expansion through a capital-efficient model, meet incremental working capital requirements, and diversify into high-value segments via a new pasteurised egg production unit.” Earlier, Barkat Frisian Agro Limited , another poultry egg processing firm, got listed and made its shares available for trade at the PSX in February 2025. The firm mobilised Rs1.23 billion through selling 67.74 million shares at the PSX.

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