KARACHI: Ghani Dairies Limited, Pakistan’s first large-scale corporate dairy farming operation, has announced plans to raise approximately Rs2.5 billion ($8.9 million) through an initial public offering, marking a milestone for the country’s agriculture and food sector.
According to its financial adviser JS Global Capital, the company will issue 104.2 million new shares, representing around 24.3% of its post-listing paid-up capital. About 75% of the shares will be offered through book building, while the remaining portion will be allocated to retail investors.
The floor price for the offering has been set at Rs24 per share, and the IPO will be fully underwritten.
Ghani Dairies operates a fully automated dairy facility, using imported high-yield cattle and digital herd management systems to supply raw milk to major processors, including Nestlé Pakistan, Fauji Foods and IRC Dairy.
Chief Executive Hafiz Avais Ghani said the listing would support capacity expansion and help meet rising demand from industrial buyers and the domestic market.
As part of its growth strategy, the company plans to import 1,250 additional dairy cows, construct new milking and heifer sheds, expand storage facilities and install advanced feeding and milking infrastructure.
JS Global Capital CEO Khalil Usmani said the offering provides investors exposure to Pakistan’s modern dairy sector at a time when consumption of packaged milk and value-added dairy products continues to increase.
Book building is scheduled for February 2–3, followed by the public offering on February 9–10.
The listing is expected to set a precedent for corporate farming in Pakistan, a sector traditionally dominated by small-scale producers.
