Pak-Qatar General Takaful Limited (PQGTL) is launching its Initial Public Offering (IPO) next week, aiming to raise up to Rs420 million, marking a key milestone for Pakistan’s Shariah-compliant insurance industry.

The book-building phase will take place on January 21–22, with investor registration starting January 16. The company will offer 30 million shares at a floor price of Rs10 and a ceiling price of Rs14 per share.

Under the offering structure, 75% (22.5 million shares) will be allocated to institutional and high-net-worth investors, while the remaining 25% (7.5 million shares) will be offered to the general public during the public subscription window on January 28–29, according to an official statement.

Following the IPO, PQGTL will become the first dedicated general takaful operator to list on the Pakistan Stock Exchange (PSX) at a time when the broader market is trading at record levels.

The public listing is intended to strengthen PQGTL’s capital base, fulfill regulatory capital requirements for non-life insurers and takaful operators, and support expansion and modernization initiatives.

The offering follows the recent listing of Pak-Qatar Family Takaful Limited (PQFTL), which raised Rs901 million last month in Pakistan’s first Islamic insurance IPO. That transaction was oversubscribed 3.5x, signaling strong investor appetite for Shariah-compliant financial assets.

PQGTL plans to deploy IPO proceeds toward strategic investments including software and intangible assets, infrastructure upgrades, marketing and brand development, HR capacity, and the expansion and upgradation of physical branches.

Part of the Pak-Qatar Group, the company is backed by Qatar-based financial institutions and offers a wide range of Shariah-compliant general takaful products across Pakistan.

The IPO was cleared last week by the Securities and Exchange Commission of Pakistan (SECP), becoming the sixth Main Board listing on the PSX in FY2025–26, reflecting renewed momentum in Pakistan’s equity capital markets and continued growth in the Islamic finance ecosystem.