New IPO listing tomorrow — GMP suggests a 40% premium but…
New IPO listing tomorrow — GMP suggests a 40% premium but fundamentals don't justify it past listing day.
Pakistan Stock Exchange
How do I apply for an IPO on the Pakistan Stock Exchange?
Last reviewed:
Short answer
You can apply for a PSX IPO online through PSX's e-IPO system or through your broker or bank during the public subscription period. You need a CNIC, a CDC account (or sub-account with a broker) to receive the shares, and a bank account or wallet to pay through 1Link or NIFT. If the issue is oversubscribed, shares are allotted under the prospectus rules and unallotted money is refunded.
How a PSX IPO works
- A company files a prospectus approved by the SECP and PSX describing the business, the risks and the offer.
- Most IPOs use book building: institutions and high-net-worth investors bid first to discover the strike price.
- The remaining shares — often 25% — go to the general public at the strike price in a retail subscription window of a few days.
- After the window closes, shares are allotted, credited to CDC accounts, and the stock starts trading on PSX.
Step by step through e-IPO
- Make sure you have a CDC account or a sub-account with a PSX broker in your name.
- Register on the PSX e-IPO portal (eipo.psx.com.pk) with your CNIC, mobile number and email — or ask your broker to apply for you.
- Read the prospectus: price, lot size, minimum application, dates and risk factors.
- Submit your application during the public subscription dates.
- Pay through the listed channels — 1Link (internet banking, mobile banking, wallets, ATM) or NIFT ePay.
- Keep the confirmation and payment receipt; track allotment status on the portal.
Who can apply
| Investor | Route |
|---|---|
| Resident individuals | e-IPO portal, broker or banker to the issue |
| Overseas Pakistanis | Through a Roshan Digital Account linked to CDC |
| Companies and institutions | Book building or e-IPO under the prospectus rules |
Before you subscribe
- Read the use of proceeds — expansion is different from existing shareholders cashing out.
- Compare the valuation with listed peers in the same sector.
- Do not assume a listing-day gain; some PSX IPOs have traded below their offer price.
- Check Shariah status in the prospectus if that matters to you.
- Never pay an IPO amount to an individual's account — payment goes only through the official channels.
After the shares are listed
Check that the allotted shares appear in your CDC account statement before listing day, and that any refund has reached the account you paid from. On the first trading day prices can swing sharply in both directions as allottees sell and new buyers enter, so decide in advance whether you plan to hold for the long term or sell, and set a limit price rather than a market order.
Roman Urdu mein jawab
PSX IPO mein apply kaise karein?
PSX ke e-IPO portal (eipo.psx.com.pk) ya apne broker ke zariye public subscription ke dinon mein apply karein. CNIC, CDC account aur 1Link ya NIFT se payment ke liye bank account/wallet chahiye. Oversubscription par prospectus ke qawaid se shares milte hain aur baqi raqam wapas aati hai.
Frequently asked questions
What is the minimum amount to apply for a PSX IPO?
It is set in each prospectus as a minimum number of shares or amount, and is usually affordable for retail investors. Check the specific offer.
When will I get my IPO shares?
After the subscription closes and allotment is finalised — typically within days to a couple of weeks — shares are credited to your CDC account before listing.
What happens if the IPO is oversubscribed?
Shares are allotted according to the method in the prospectus, and money for shares not allotted is refunded to the account you paid from.
Can I sell IPO shares on the first day?
Yes, once the shares are credited and trading begins, you can sell them like any other listed share.