PSX completes investor refunds following SE Fruits and Vegetable IPO withdrawal

Pakistan Stock Exchange has returned all funds paid by investors for SE Fruits and Vegetables Limited’s proposed IPO, after the company pulled its listing application. Profit by Pakistan Today reported that refunds were sent to subscribers’ bank accounts under Securities and Exchange Commission of Pakistan instructions. Investors with unresolved refund queries were directed to contact their banks or subscription intermediaries.

The company said on October 13 that it would withdraw its application and file a revised one with further disclosures. The regulator had raised concerns about prospectus details, including the change from a partnership operating since 1998 to a public limited company formed in 2026, and halted the process to protect investors. The IPO had planned to offer 30 million shares, with the book-building round fully subscribed within two hours at Rs40 per share; the SECP is also examining responsibility for procedural irregularities.