Sitara to expand retail network with Rs4.8bn IPO funding

KARACHI: Sitara Petroleum Service Limited plans to expand its retail network to over 100 fuel stations within the next two years, aiming to strengthen its presence along high-growth corridors, with the expansion to be financed through an estimated Rs 4. 8 billion to be raised via an Initial Public Offering (IPO). Sitara Petroleum has recently announced its IPO, seeking to raise up to Rs4. 8 billion to finance expansion in its fuel retail network, logistics operations and storage infrastructure, according to its IPO prospectus. The company is offering a total of 279. 9 million ordinary shares, representing 16. 66 percent of its post-IPO paid-up capital. Of these, 168 million shares are being offered to the public, while 111. 9 million shares have already been placed through a pre-IPO transaction. Sitara Petroleumis rapidly expanding its footprint in Pakistan’s downstream petroleum sector, strengthening its position as a major fuel retail operator and logistics partner to oil marketing companies (OMCs), supported by a growing network of fuel stations and an expanding tanker fleet. As Pakistan’s energy demand continues to grow, the company’s integrated focus on fuel retail management and transportation services positions it to benefit from both volume expansion and operational scale within the downstream petroleum sector. Copyright Business Recorder, 2026

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