AdalFi Targets Rs. 652 Million IPO for SME and Islamic Lending Growth

Digital lender AdalFi in Lahore aims to raise Rs. 652 million through an initial public offering next month to grow its small-business and Islamic financing portfolios.

NationPulse Desk

Oct 30, 2026 · 12:45 PM 2 min read

Key takeaways

Lahore-based digital lender AdalFi plans an initial public offering next month to raise up to Rs. 652 million, or $2.35 million.

The listing will make AdalFi the first fintech to join the Pakistan Stock Exchange.

AdalFi was founded in 2021 and has facilitated more than Rs. 110 billion in loans.

Pakistan's IPO market reached a record 13 offerings raising Rs. 23.1 billion.

Digital lending platform AdalFi, based in Lahore, intends to start an initial public offering next month in order to secure up to Rs. 652 million, which equals $2.35 million, for growing its small-business and Islamic financing portfolios.

If completed, this share sale will establish AdalFi as the inaugural fintech to float shares on the Pakistan Stock Exchange and join a select group of startups entering the nation's public market.

In a communication shared with Bloomberg, AdalFi announced plans to offer fresh shares through the upcoming public offering.

This scheduled market debut arrives during a record-breaking period for public offerings in Pakistan. Bloomberg figures show that 13 share sales brought in a total of Rs. 23.1 billion, representing the most active listing year in national history.

AdalFi's Digital Lending Model

Established in 2021, AdalFi assists financial institutions and other lenders in evaluating credit risk for individuals and small enterprises lacking conventional credit files.

Operating under this framework, partner banks supply the capital and keep the debt on their financial records, while AdalFi collects a portion of the revenue and takes on a share of the credit risk.

The enterprise has enabled over Rs. 110 billion in borrowings since its inception, based on figures provided by the firm.

AdalFi's planned stock market entry highlights ongoing momentum within local startup and investment sectors, giving the digital lender a chance to acquire public capital as it scales its financing operations.

Questions and answers

When is AdalFi planning its IPO?

AdalFi plans to launch its initial public offering next month.

How much money does AdalFi want to raise?

The company is seeking to raise up to Rs. 652 million, which is equal to $2.35 million.

What is AdalFi's business model?

Partner banks provide the funds and keep the loans on their balance sheets, while AdalFi earns a share of the income and assumes part of the lending risk.