Tasdeeq Prepares for PSX IPO, Pioneering South Asia’s Credit Information Sector

Tasdeeq, a credit information and analytics firm regulated by the State Bank of Pakistan, announced on Wednesday that it will list its shares via an initial public offering (IPO) on the Pakistan Stock Exchange (PSX), marking the first public listing of a credit bureau in South Asia.

Muhammad Sohail, CEO of Topline Securities and consultant advising the share issuance, said the company expects to offer its shares to investors and enable public trading on the PSX in August 2026.

Topline views this offering as a milestone for Pakistan’s capital market, giving investors access to a data‑driven business that operates in an oligopolistic environment with significant entry barriers and robust regulatory backing.

Tasdeeq benefits from the mandatory credit information bureau requirements for financial institutions, a large proprietary database, and an expanding suite of analytics. The firm is governed by a board that satisfies the SBP’s fit‑and‑proper standards and is led by an experienced management team, Topline added.

The prospectus states that Tasdeeq intends to sell 150 million shares at a price between Rs1.90 and Rs3.00 per share. At these price levels, the IPO is expected to raise equity capital between Rs285 million and Rs450 million, subject to the final strike price determined through a Dutch‑bidding (book‑building) process.

The consultant noted that pre‑IPO investors have pledged to subscribe at a premium of roughly 24% to the Rs1.90 floor price, reflecting strong institutional confidence in the company’s valuation and growth prospects.

The prospectus indicates that the Rs285 million raised at the Rs1.90 floor price will fund a post‑IPO growth programme across three areas: product development and engineering, technology infrastructure and information security, and marketing. The funds are slated for deployment over 18 to 21 months after the IPO’s completion.

Topline noted that the company has achieved substantial revenue and profit growth in recent years, driven by the operating leverage of its asset‑light business model.

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