Sitara Petroleum IPO hits cap price of PKR 18.90 in 10 minutes, sets PSX record

Sitara Petroleum Service Limited's initial public offering reached its cap price of PKR 18.90 within 10 minutes of book building opening on May 4, 2026, setting a record at the Pakistan Stock Exchange.

The issue was fully subscribed in record time, driven by strong demand from institutional investors and high-net-worth individuals.

What is the Sitara Petroleum IPO listing price?

The Sitara Petroleum IPO strike price was set at PKR 18.90, the ceiling of the book-building price band. Book building opened at a floor price of PKR 13.50, with a ceiling of PKR 18.90.

Investor demand pushed bids to the cap within 10 minutes, making it the fastest book-building conclusion in PSX history.

What does the Sitara Petroleum IPO include?

The IPO comprises 279.9 million shares, representing 16.66% of the company's total post-IPO paid-up capital. Shares carry a face value of PKR 1.0 each.

Proceeds from the offering are intended to fund expansion of the company's retail fuel station network and logistics fleet operations.

Why did investors respond so strongly to the Sitara Petroleum IPO?

The rapid price discovery at the cap level reflects investor confidence in Sitara Petroleum's business fundamentals. These include its fuel station management model and expanding logistics and fleet operations supporting the oil marketing sector.

The pace of subscription points to strong appetite for energy sector listings on the PSX.

Who managed the Sitara Petroleum IPO?

Arif Habib Limited served as lead manager and book runner for the transaction. Chief Executive Officer Shahid Ali Habib said the response reflects strong participation in the market. "We sincerely thank all investors for placing their trust in Arif Habib Limited," he said.