Islamabad: Pak-Qatar General Takaful Limited (PQGTL), Pakistan’s first dedicated non-life Shariah-compliant takaful company, is set to launch its Initial Public Offering (IPO) next week to raise up to Rs. 420 million, the company said on Tuesday.

According to the statement, the book-building process will take place on January 21 and 22, while investor registration will open on January 16. Following the offering, PQGTL will become the first dedicated general (non-life) takaful operator to be listed on the Pakistan Stock Exchange (PSX), at a time when the benchmark KSE-100 Index is trading at historic highs.

The listing is part of the company’s plan to strengthen its paid-up capital base to meet regulatory capital requirements for non-life insurers and takaful operators, while also supporting future expansion and growth initiatives.

Arif Habib Limited has been appointed as the consultant and book runner for the IPO, the company said.

The planned offering follows the recent successful listing of Pak-Qatar Family Takaful Limited (PQFTL), which raised Rs. 901 million last month in Pakistan’s first-ever Islamic insurance sector IPO. That issue was oversubscribed by 3.5 times, reflecting strong investor interest in Shariah-compliant financial products.

Under the current offering, PQGTL will issue 30 million shares, with a floor price of Rs. 10 per share and a ceiling price of Rs. 14 per share. Of the total shares, 75% (22.5 million shares) will be allocated to institutional investors, while 25% (7.5 million shares) will be offered to the general public. Public subscription is scheduled for January 28 and 29.

The company said proceeds from the IPO will be used to support strategic initiatives, including investment in software and other intangible assets, hardware and infrastructure, marketing and brand development, human resource enhancement, the establishment of new branches, and the upgrading of existing branches to improve operational efficiency and customer experience.

PQGTL is part of the Pak-Qatar Group, an Islamic financial services group backed by Qatar-based financial institutions. The company offers a range of Shariah-compliant general takaful products and, upon listing, will become the first dedicated general takaful company to trade on the PSX.

Last week, the Securities and Exchange Commission of Pakistan (SECP) approved PQGTL’s IPO prospectus, noting that IPO activity on the PSX has gained momentum during the current fiscal year. PQGTL’s offering will be the sixth IPO on the PSX Main Board so far in FY2025–26.