The Pakistan Stock Exchange IPO for SE Fruits and Vegetable Limited has been called off, and the exchange now says all money collected from investors has been returned to their bank accounts. In a notice dated October 22, 2026, the PSX said the repayments were carried out after the company withdrew its offering, following a directive from the country's securities regulator, the SECP. Investors who still have questions should contact the bank or intermediary that handled their application.
What the exchange confirmed
The PSX said the refunds cover the full amount collected in the offering, not a partial sum. On the Pakistan Stock Exchange IPO itself, the notice names the bank or intermediary as the first point of contact. It also gives an email address for anyone who wants to raise a concern with the exchange directly.
The formal investigation opened by the SECP is now under way, and its outcome is not covered by the PSX notice.
Why the share sale was halted
SE Fruits and Vegetable Limited received SECP approval in September 2026 to issue a prospectus, the formal document that sets out a company's finances and share details, for 30 million ordinary shares. The offering then moved to book building, the stage where investor demand is gathered to help set the price. The SECP later suspended further steps to protect investors after discrepancies appeared in the prospectus.
A complaint received on September 11, two days after the approval, flagged differences between reported sales and sales tax returns for 2022 to 2026. It also pointed to unreported local sales in the company's 2024 income tax return and to gaps between reported sales and bank credits.
On October 13, the company said it would withdraw its existing application and file again with expanded disclosures. Those disclosures concern the move of its business from a partnership operating since 1998 to a public limited company incorporated in 2026. Separately, the SECP has announced regulatory action and opened a formal investigation into the prospectus, the auditor's work, the issue consultant's due diligence, the PSX's oversight and the regulator's own approval procedures.
Timeline: what has happened so far
- September 2026: The SECP approves the prospectus for 30 million ordinary shares.
- September 11: A complaint is received, two days after the approval, raising questions about sales records.
- October 13: The company says it will withdraw its application and refile with expanded disclosures.
- October 22: A PSX notice confirms that refunds were completed under an SECP directive.
Aasan alfaaz mein
PSX ne tasdeeq ki hai ke SE Fruits and Vegetable Limited ke IPO mein investors se liye gaye tamam paise unke bank accounts mein wapas bhej diye gaye hain. Company ne IPO wapas le liya tha, aur SECP ki hidayat par refund mukammal hua. Agar aap ne is IPO mein apply kiya tha to apne bank ya intermediary se raabta karein. SECP ne prospectus ki formal tehqiqat bhi shuru kar di hai.
