KARACHI: Wahdat Poultry Farm Limited has signed an offer letter with Saudi Pak Industrial and Agricultural Investment Company Limited for a short-term financing facility worth Rs500 million, the company disclosed to the Pakistan Stock Exchange on September 16.
The facility arrives barely four months after Wahdat's Main Board debut. Investors oversubscribed the book-building portion 5.2 times and the retail segment 1.2 times, with participation from 2,731 retail investors alongside 81 individual and 24 institutional investors.
What the Rs500 Million Facility Actually Covers
Terms of the new facility run tight. Saudi Pak structured it as a short-term revolving line, with each drawdown capped at a 120-day tenor. The limit itself stays open for three years. Markup runs at 3-month KIBOR plus 1.5 percent per annum, payable quarterly in arrears. Wahdat must repay principal as a single bullet payment when each tranche matures. Security takes the form of a first pari passu or joint pari passu charge by hypothecation over the company's present and future current assets, carrying a 25 percent margin.
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The company states the funds will cover working capital requirements and says the facility will "strengthen the Company's working capital position and provide additional financial flexibility to support its ongoing business operations and growth."
That growth push has moved fast since listing. Regulatory filings show Wahdat approved its annual budget and business plan for the financial year ending June 30, 2027, alongside an expansion programme adding 100,000 layer birds to its flock. Commercial egg production from that new flock is expected to begin in November 2026, once the birds reach laying maturity. The company had already flagged IPO-linked investment in a liquid egg pasteurisation plant and broader poultry capacity in its original prospectus.
A Rapid Run of Corporate Activity Since Listing
Wahdat's core business spans poultry layer farming, egg and feed processing, marketing, branding, and the buying, selling, export and import of related products, according to its PSX company profile.
PSX had already classified Wahdat as Shariah-compliant under the KMI All Share Index screening criteria at the time of listing, placing it in the PSX-KMI All Share Islamic Index alongside the exchange's Food & Personal Care Products sector.
The Saudi Pak facility adds a new financing partner to a company whose most public financial move to date has been raising equity, not debt. Whether the working-capital line supports the flock expansion directly, or covers separate operational needs, the disclosure itself does not specify. Wahdat has committed to keeping the exchange, shareholders and the investing public informed of "any further material developments" tied to the arrangement.
For a company that entered the market only in May, the pace of activity, a record-oversubscribed IPO, a rapid flock expansion, and now a multi-year credit line from a state-backed development finance institution — signals a business moving quickly to scale, with investors likely to watch how efficiently the new capital converts into egg-production capacity heading into the November launch window.