Sitara Petroleum Services Ltd plans to launch an IPO at the Pakistan Stock Exchange next month, according to market reports. The company wants to raise up to Rs3.2 billion to expand fuel stations, increase its tanker fleet, and build a large oil storage terminal in Faisalabad.
Sitara Petroleum Services Ltd., a fuel station operator and oil transport company in Pakistan, plans to go public through the Sitara Petroleum IPO at the Pakistan Stock Exchange (PSX). Shahid Ali Habib, chief executive officer at Arif Habib Ltd., says that the company aims to raise about Rs3.2 billion (around $11.4 million) through the listing.
Industry sources say this could become the second-largest IPO in Pakistan during the past four years if completed at the planned size.
The company trades and distributes diesel, petrol, and lubricants. It also provides fleet logistics services to Gas & Oil Pakistan Limited (GO). Sitara currently runs 61 fuel stations, mainly in Punjab, under the GO and Aramco brands. It operates a fleet of 320 oil tankers.
How the IPO Funds Will Be Used
Reports say the company plans to use funds from the Sitara Petroleum IPO to expand its business operations. Plans include opening at least 47 new fuel stations and adding 50 more tankers to its transport fleet.
A key project involves building a 30,000-tonne oil storage terminal at Gatti, Faisalabad. An oil storage terminal stores large amounts of fuel before delivery to stations. This facility will support the company’s plan to apply for an oil marketing license, which it targets by the 2028 fiscal year.
IPO activity expected to grow at PSX
Market analysts expect more companies to launch IPOs in 2026. Reports from brokerage firms suggest that around 16 public offerings may enter the market in the coming months. It could increase activity at the Pakistan Stock Exchange.
The planned Sitara Petroleum IPO shows how local energy companies seek funding from public markets to expand operations and grow their distribution networks.
