Ghani Dairies Limited, a part of the Ghani Group, is planning to raise Rs 2.5 billion through an Initial Public Offering (IPO) at the Pakistan Stock Exchange (PSX) in order to expand its operations and strengthen its position in Pakistan’s dairy sector.
According to the company’s prospectus available on PSX, the issuance consists of 104.2 million ordinary shares with a face value of Re 1, representing 24.28% of the company’s post-issue paid-up capital.
Seventy-five percent of the issue size—78.15 million ordinary shares priced at Re 1 each—will be offered through the book-building process, with a floor price set at Rs 24 per share. These shares will be allocated to successful bidders, while the remaining portion will be offered to retail investors at the strike price.
The Ghani Group, established in 1959, has become one of Pakistan’s prominent and diversified business conglomerates. The group expanded into new sectors and launched initiatives in 2020 such as Ghani Halal Feed Mill and Ghani Dairies Limited (GDL), which is engaged in the production and sale of raw milk.
GDL supplies its entire output to leading dairy processing companies in the country under long-term contracts.
According to the draft, the primary aim of the IPO is to increase Ghani Dairies’ livestock capacity, expand operations, upgrade farm infrastructure, and strengthen its working capital position.
This expansion will increase raw milk production capacity from 17,840 tons per year in FY 2025-26 to 33,570 tons per year in FY 2026-27.
Furthermore, milk production capacity is expected to reach 38,371 tons per year in FY 2027-28 as 250 young calves—procured through IPO funds—begin producing milk, along with natural herd growth.
This strategically planned expansion will enable the company to meet rising demand for raw milk and strengthen its market presence in the dairy sector.
