K-Electric’s debut retail short-term sukuk IPO closed with an overwhelming response, raising Rs 4.4 billion against its initial target of Rs 2 billion. The issue was oversubscribed by more than two times, reflecting strong investor appetite for Islamic finance products.
Over 600 retail and institutional investors participated in the landmark offering, making it the first retail sukuk IPO in Pakistan’s history. K-Electric’s Chief Financial Officer, Muhammad Aamir Ghaziani, said the successful issuance reflects growing trust in the company’s financial strength and in Shariah-compliant instruments. The funds will be directed toward operational funding and promoting financial inclusion, pointing to a broader shift in Pakistan’s capital markets toward diversified fundraising avenues.
