ISLAMABAD: Lucky Investments Limited said on Wednesday it had successfully raised Rs50 billion ($170 million) during the Initial Public Offering (IPO) of its debut fund, the Lucky Islamic Money Market Fund, the largest ever mutual fund launch in Pakistan.
The Fund had declared the launch of its IPO for April 9, inviting all interested investors to become part of a historic interest-free, Shariah-compliant Pakistan initiative, as per a notice issued by the company.
“This landmark achievement marks an extraordinary milestone in Pakistan’s financial sector, where investors nationwide demonstrated overwhelming confidence in the company’s first Shariah-compliant offering,” Lucky Investments said in a statement.
“The record-breaking subscription underscores robust demand for Islamic financial products and firmly positions Lucky Investments’ place as a promising new player in Pakistan’s Asset Management Industry.”
Lucky Investments, a subsidiary of Pakistan’s Lucky Group, focuses on investment and portfolio management across sectors like energy, real estate and manufacturing. Originally known as Interloop Asset Management Limited, the company was acquired by Yunus Brothers Group in December 2024 and rebranded as Lucky Investments Limited.
The company listed Lucky Islamic Money Market Fund as the first in a planned series of Shariah-compliant mutual funds set to be introduced by the company.
“We are profoundly grateful for the extraordinary trust placed in us by investors across Pakistan,” Lucky Investments Chief Executive Officer Mohammad Shoaib was quoted as saying in the statement.
“Breaking the national record with a Rs50 billion subscription in a single day is not just a milestone for Lucky Investments, but a testament to the growing strength of Islamic finance in our market.”
Shariah-compliant investments are gaining traction in Pakistan as investors seek ethical, faith-based financial solutions. Supported by a growing Islamic finance sector and regulatory backing from the Securities and Exchange Commission of Pakistan and the State Bank, the market continues to expand through mutual funds, sukuk, and Islamic banking products.
In 2024, Islamic banking in Pakistan held a significant market share, with assets and deposits accounting for approximately 19 percent and 24 percent of the overall banking industry, respectively, by the end of September.
The State Bank has set the target to increase the share of the Islamic banking system to 35 percent by 2025.
$170 million raised in Pakistan’s largest-ever IPO for Lucky Islamic Money Market Fund
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$170 million raised in Pakistan’s largest-ever IPO for Lucky Islamic Money Market Fund
- Lucky Investments says investors demonstrated “overwhelming confidence” in its first Shariah-compliant offering
- State Bank of Pakistan has set the target to increase the share of Islamic banking system to 35 percent by 2025
Security forces kill 11 militants in separate operations in Pakistan’s northwest
- Pakistan has struggled to contain a surge in militancy in northwestern Khyber Pakhtunkhwa province that borders Afghanistan
- Militant groups such as the Pakistani Taliban frequently target convoys of security forces, police and government officials
ISLAMABAD: Security forces gunned down 11 Pakistani Taliban militants in separate operations in the country’s northwestern Khyber Pakhtunkhwa (KP) province, the Pakistani military said on Saturday, amid a surge in militancy in the South Asian country.
The first intelligence-based operation was conducted in North Waziristan district, which borders Afghanistan, during which six militants were killed, according to the Inter-Services Public Relations (ISPR), the military’s media wing.
Another joint intelligence-based operation by police and security forces was conducted in the Kurram district, which led to the killing of five other Pakistani Taliban militants in a fire exchange.
“Weapons and ammunition were also recovered from killed Indian-sponsored khwarij (militants), who remained actively involved in numerous terrorist activities,” the ISPR said in a statement.
“Sanitization operations are being conducted to eliminate any other Indian-sponsored kharja (militant) found in the area.”
There was no immediate comment by New Delhi to the Pakistani military statement.
Pakistan has struggled to contain a surge in militancy in KP in recent years. Militant groups such as the Pakistani Taliban, or the Tehreek-e-Taliban Pakistan (TTP), have frequently targeted convoys of security forces, police stations and check-posts besides kidnapping government officials in the region.
Last year, the South Asian country saw 73 percent increase in combat-related deaths, with both security forces and militants suffering casualties in large numbers.
As per statistics released by the Pakistan Institute for Conflict and Security Studies (PICSS), combat-related deaths in 2025 rose 73 percent to 3,387, compared with 1,950 in 2024. These deaths included 2,115 militants, 664 security forces personnel, 580 civilians and 28 members of pro-government peace committees (combatants), the think tank said in a press release.
Islamabad has frequently accused Afghanistan of allowing its soil and India of backing militant groups, including the TTP, for attacks against Pakistan. Kabul and New Delhi have consistently denied this.
