PACRA Makes Historic Debut on PSX GEM Board, IPO Oversubscribed Over Four Times

Lahore/Karachi — The Pakistan Credit Rating Agency Limited (PACRA) marked a major milestone today with its official listing on the Pakistan Stock Exchange’s (PSX) Growth Enterprise Market (GEM) Board. In a first for the Exchange, the prestigious gong ceremony was hosted in Lahore—PACRA’s home city—underscoring PSX’s new regional engagement approach.

The event was attended by senior officials from the Pakistan Stock Exchange, Securities and Exchange Commission of Pakistan (SECP), LSE Capital Limited, IEL, and other distinguished guests. Chief Executive Officer of PSX, Mr. Farrukh H. Sabzwari, and SECP’s Executive Director of Securities Market Division, Mr. Imran Inayat Butt, graced the occasion.

Mr. Sabzwari commended PACRA’s successful IPO, which raised nearly PKR 396.239 million—well above its initial target and oversubscribed by over four times. He emphasized the credibility this outcome reflects in both PACRA and the PSX platform, adding, “The listing not only celebrates PACRA’s success but also reinforces the effectiveness of the GEM Board in supporting growth-stage companies.”

With PACRA’s inclusion, the number of companies listed on the GEM Board has reached seven. Mr. Sabzwari also announced plans for an upcoming IPO roundtable in Peshawar, part of a broader PSX initiative to promote capital market access across Pakistan’s regions.

PACRA CEO Mr. Usman Haider expressed deep gratitude for the support received throughout the process. “For nearly three decades, PACRA has served as a pillar of transparency and investor confidence in Pakistan’s capital markets,” he stated. “Today’s listing opens a new chapter of accountability, innovation, and nationwide engagement.”

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PACRA Chairman Mr. Tariq Jamil highlighted the GEM Board as a visionary initiative, particularly beneficial for dynamic institutions with ambitious growth plans. He thanked PSX and SECP for enabling smaller enterprises to access public capital efficiently.

Acknowledging the dedication of his team, Mr. Haider praised the PACRA staff and Rating Committee for their professionalism and analytical discipline. He also extended thanks to the SECP, State Bank of Pakistan, and transaction advisors LSE Capital and IEL for their guidance and support.

The listing of PACRA marks a significant step in deepening the financial infrastructure of Pakistan, boosting investor confidence, and strengthening the role of independent credit ratings in capital markets.