KARACHI: Sitara Petroleum Service Ltd (SPSL) was listed on the PSX on Thursday after completing its initial public offering (IPO).

The company received an overwhelming response from investors during both the book building and public subscription phases.

According to a press release issued by the PSX, the IPO witnessed the hig­hest-ever participation in the country’s history, wi­­­­th approximately 25,000 appl­­­i­­cations received acro­­ss the book building and retail segments. The transaction raised Rs4.8bn, ma­­k­­­ing it one of the largest private sector public offers.

At the listing ceremony, PSX Managing Director and CEO Farrukh H. Sabzwari said: “Despite global challenges, Pakistan’s capital markets have remained resilient and the IPO momentum continues due to the tireless efforts of the regulators, particularly the SECP, in streamlining the IPO process, and to the collaboration of institutions such as CDC and NCCPL.”

SPSL Chief Executive Zaheer Baig said: “This listing is not just a capital market transaction; it is the beginning of a new phase of institutional gro­wth, transparency, and value creation for all stakeholders. The proceeds from the IPO will help us accelerate our expansion plans, strengt­hen our retail fuel station network, enhance logistics and fleet operations, and further improve service delivery across the country.”

Published in Dawn, May 22nd, 2026