K-Electric (KE) has successfully closed Pakistan’s first listed short-term sukuk for retail investors, raising Rs4.4 billion — more than twice its initial target of Rs2 billion.
As per reports, the Initial Public Offering (IPO) witnessed participation from over 600 individual applicants alongside institutional investors.
The funds raised through the sukuk will be used to support KE’s operational needs and working capital requirements. The company said the IPO promotes Islamic finance at the individual level, enhances financial inclusion, and channels domestic savings into productive assets, contributing to stronger capital markets.
The offering opened on August 4 for individual investors, including KE’s residential and commercial consumers. From August 18, the IPO was extended to all investor categories, including asset management companies. A pre-IPO placement of Rs1 billion had earlier been allocated for industrial and large commercial consumers, as well as high-net-worth individuals.
A distinctive feature of the sukuk is its utility-linked structure, allowing residential and commercial consumers to adjust monthly profit payouts against electricity bills, making participation more convenient and deepening financial engagement.
