Selmore Pharma Eyes Rs. 2 Billion IPO at PSX

Selmore Pharmaceuticals Ltd., a veterinary drugmaker, is seeking a listing on the Pakistan Stock Exchange's Main Board, with the exchange publishing its draft prospectus for public comment.

Key points

• While poultry contributed 35.2 percent, its livestock segment accounted for 64.8 percent of sales during the nine months of FY2026.
• Both projects are planned at Quaid-e-Azam Business Park in Sheikhupura, with commercial operations targeted for FY2028.
• The IPO will comprise 48.61 million shares, representing 37.8 percent of the company's post IPO paid up capital.
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• While profit after tax rose from Rs, 4.74 billion in FY2025.

Meanwhile, the proposed initial public offering comprises 48.61 million ordinary shares at a floor cost of Rs. 42, according to the document posted on the PSX website. Public comments on the draft are invited until Oct. 5, 2026.

For context, the firm has additionally established an export presence throughout markets including Afghanistan, Kazakhstan, South Korea, Kuwait, Nepal, Nigeria, Oman, Qatar, Saudi Arabia, Syria, Lebanon, Jordan, Iraq, Iran, Chad, Peru and Vietnam. While poultry contributed 35.2 percent, its livestock segment accounted for 64.8 percent of sales during the nine months of FY2026. Pakistan Faces Shortage of Over 100 Life-Saving Medicines.

Notably, the IPO will comprise 48.61 million shares, representing 37.8 percent of the company's post IPO paid up capital. Of these, 75 percent, or 36.46 million shares, will be offered through book building at a floor cost of Rs. 42 per share, with a maximum cost of Rs. 63. For context, the remaining 25 percent, or 12.15 million shares, will be offered to retail investors at the strike cost.

At the floor cost, Selmore expects to raise Rs. While the matter could generate Rs, 2.04 billion. 3.06 billion if priced at the Rs. 63 cap. Meanwhile, the firm will apply the proceeds primarily to establish a new veterinary pharmaceutical formulation plant and its first Active Pharmaceutical Ingredients (API) manufacturing facility.

For context, the two projects have a combined estimated cost of Rs. 4.41 billion. While the remaining amount will come from internal cash flows and bank financing, the IPO will finance 46.29 percent of the cost. Of the IPO proceeds, Rs. 1.87 billion will go toward the new formulation plant and Rs. 173.22 million toward the API plant. Pakistan-IMF Discussions Commence Today to Unlock $1.2 Billion Loan.

Selmore, incorporated in 1998, manufactures, markets and distributes veterinary medicines and animal healthcare products for the livestock and poultry sectors. The firm operates a 166, 464 square foot manufacturing facility in Lahore and has a portfolio of more than 421 products registered with the Drug Regulatory Authority of Pakistan (DRAP).

Selmore's sales rose from Rs. 3.07 billion in FY2023 to Rs. While profit after tax rose from Rs, 4.74 billion in FY2025. 138.4 million to Rs. 192.3 million over the same period. In the first nine months of FY2026, sales reached Rs. 5.02 billion and profit after tax rose to Rs. 361.8 million.

While the new formulation plant is anticipated to growth manufacturing capacity and improve production efficiency, the firm states the new API facility will backing backward integration and reduce reliance on imported raw materials. Both projects are planned at Quaid-e-Azam Business Park in Sheikhupura, with commercial operations targeted for FY2028. Stay Connected with ProPakistani.

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In short, selmore Pharma Eyes Rs. 2 Billion IPO at PSX is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.