ABHI Microfinance Bank's Rs2.97bn IPO draws 1.6 times the institutional bids on offer

Institutional investors put in bids for 158% of the shares set aside for them in ABHI Microfinance Bank's initial public offering, the bank said, oversubscribing the book-building portion 1.6 times over two days of bidding at the Pakistan Stock Exchange on November 5 and 6, 2026.

The issue offers 132 million shares at a price band of Rs15.00 to Rs22.50, putting the total size between Rs1.98 billion and Rs2.97 billion depending on where the final price settles. Three-quarters of the shares were allocated to institutional investors through book building, with the remaining quarter reserved for retail investors.

With the institutional phase complete, the offering moves to retail subscription on November 12 and 13, 2026, when eligible individual investors can bid at the same price band. The bank described the offering as another milestone as it looks towards its next phase of growth.

ABHI was founded in 2021 with a stated aim of widening financial access through technology-driven solutions. It began with earned wage access and has since expanded into payroll solutions, salary financing and lending to small and medium-sized enterprises, building a growing presence across the Gulf Cooperation Council region.

The listing tests appetite for a fintech lender on the PSX at a moment when digital financial services are drawing regulatory attention in Pakistan. How the retail tranche fills on November 12 and 13 will show whether individual investors share the institutions' interest.