Ghani Dairies Limited, a Ghani Group company, plans to raise Rs2.5 billion through an Initial Public Offering (IPO) at the Pakistan Stock Exchange to expand its operations and strengthen its position in the dairy sector.
According to the company’s prospectus filed with the PSX, the issue consists of 104.2 million ordinary shares of Re1 each, representing 24.28% of the post-issue paid-up capital. Of these, 78.15 million shares — or 75% of the offer — will be issued through the book-building process at a floor price of Rs24 per share. The remaining shares will be offered to retail investors at the strike price.
Ghani Dairies, launched in 2020 as part of the Ghani Group’s diversification, supplies its entire raw milk production to major dairy processors under long-term arrangements.
The company plans to use the IPO proceeds for herd induction, operational expansion, farm infrastructure upgrades and working capital. The prospectus states that milk production capacity is expected to increase from 17,840 tonnes per annum in FY26 to 33,570 tonnes in FY27, supported by the planned addition of 1,000 pregnant heifers and organic herd growth. Output is projected to reach 38,371 tonnes in FY28 as another 250 heifers begin milking.
The expansion, the company says, will enable it to meet rising demand for raw milk and consolidate its market position.
