Pak-Qatar General Takaful IPO Registration in Full Swing!

Pak-Qatar General Takaful Limited (PQGTL), IPO’s registration is in full swing which started on January 16 and will continue till January 22.

Being the first-ever General Takaful company to be listed at PSX, Pak-Qatar Group Company is set to raise up to Rs. 420 million on January 21–22 during its book building process. Following the IPO, PQGTL will become the first dedicated general (non-life) takaful operator to be listed on the Pakistan Stock Exchange (PSX).

The listing forms part of PQGTL’s strategy to enhance its paid-up capital base, enabling the company to meet applicable regulatory capital requirements for non-life insurers and Takaful operators, while supporting future growth initiatives.

Arif Habib Limited has been mandated by Pak-Qatar General Takaful Limited to act as the consultant and lead manager for raising funds through the Initial Public Offering.

The IPO follows the successful listing of Pak-Qatar Family Takaful Limited (PQFTL) last month, which raised Rs. 901 million and became Pakistan’s first-ever Islamic insurance to be listed with having an IPO at a strike price of Rs. 18.02 per share. That offering was oversubscribed by 3.5 times, reflecting strong investor appetite for 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 offering, 22.5 million shares (75%) will be allocated to institutional investors, while 7.5 million shares (25%) will be offered to the general public. The general public subscription is scheduled for January 28–29.

Pak-Qatar General Takaful Limited (PQGTL) is one of the leading dedicated general Takaful operators in Pakistan. With an established presence in the market, the Company offers a comprehensive portfolio of Shariah-compliant general (non-life) Takaful products to both corporate and individual customers. PQGTL holds approximately 19% market share of Pakistan’s dedicated general Takaful segment.

PQGTL sponsors currently hold 69.28% shares, Directors have 7.88%, related family members own 6.89%, and other individual investors own 15.95%.

PQGTL offers a comprehensive range of Shariah-compliant Takaful solutions designed to meet the diverse risk protection needs of both individual and corporate clients. Its offerings are customized to provide financial security for personal requirements while addressing the complex risk management needs of businesses across various sectors.

The share of Takaful sector in the insurance sector has steadily increased over the past two decades, with both Family and General Takaful showing a marked upward trend. From a negligible share in 2006, Family Takaful sector now constitutes ~15% of the life insurance market, while General Takaful sector has reached ~13% of the non-life segment in 2024.

The proceeds from the IPO will be utilized to fund strategic initiatives, including investments in software and other intangible assets, hardware and infrastructure, marketing and brand development, human resource enhancement, and the establishment of new branches.