Reproduced from IPO presentation and IPO analyst-call understanding. InvestKaar makes no guarantees regarding completeness or timeliness. This dashboard is for informational and analytical purposes only — it does not constitute investment advice.
Scenario
Value per share — DCF
PKR 4.29
P/E multiple18.0×
sector ~18× · exit multiple ~15.6× · global bureaus ~23×
Current market pricePKR
IPO placement price final
The IPO has priced. 150M new shares placed at the strike price of PKR 3.00 → a fixed PKR 450M cash injection to the DCF (no longer a slider).
The consumer story
The bet that drives everything. 100% = the company's plan, 0% = frozen at the 2026 level.
Consumer growth vs company's plan100%
The company's plan (100%): app + referrals grow from PKR 161M to 1,108M a year, and paying purchases from 389k to 1.25M, by 2030.
Price per category
The 2026 per-check fee to lenders and app prices to individuals. Prices grow ~10%/yr to 2030 (company expectation) — the top dial changes that growth for all at once.
Price growth per year (all)10%
company assumption 10%
Microfinance / hit (2026)12.0PKR
base 12.0
Nano / fintech / hit (2026)4.0PKR
base 4.0
Commercial bank / hit (2026)25PKR
base 25
Digital bank / hit (2026)35PKR
base 35
App single report349PKR
base 349
App 6-month subscription999PKR
base 999
Valuation dials
Cost of equity18.2%
base 18.2% · used to discount both DCF and the P/E value
Terminal growth (DCF)4.0%
base 4.0%
Advanced — contribution margins
How much of each extra rupee of revenue drops to profit. Governs scenario profit.
B2B (per-hit) margin85%
Consumer app margin60%
Lead-gen margin75%
Loan-market growth per year
How fast each lending market (number of borrowers) grows — the grander assumptions the model is built on.
Microfinance market12%
company 12%/yr
Nano / fintech market20%
company ~20%/yr
Commercial bank market6%
company 6%/yr
Digital bank market6%
company 6%/yr
Tasdeeq market share
Share of each market's checks that run through Tasdeeq (vs the competitor).
Microfinance share50%
base 50%
Nano / fintech share50%
base 50%
Commercial bank share20%
base 20%
Digital bank share50%
base 50%
Consumer app funnel
How the app pool converts. Scales consumer revenue on top of the growth dial.
Download → register rate60%
base 60%
Register → pay conversion40%
base 40%
Hits by category — model base mn / yr
The company model's exact billable-query volumes (credit report + score), 2026–2030. This is the volume that × tariff builds B2B revenue.
Price per query by category. Banks are not a smooth +10%/yr: commercial locks at 33.3 from 2029, digital steps 35→40→45.
Category
2026
2027
2028
2029
2030
CAGR ’26–30
Microfinance
12.0
13.2
14.5
16.0
17.6
10.0%
Nano / fintech
4.0
4.4
4.8
5.3
5.9
10.0%
Commercial
25.0
27.5
30.3
33.3
33.3
7.4%
Digital banks
35
35
35
40
45
6.5%
Revenue 2030
2,110
PKR mn · base
PAT 2030
838
PKR mn · base
EPS 2030
0.88
PKR · base
Consumer share 2030
52%
of revenue
Revenue mix — lenders vs people PKR mn
Profit & loss + unit economics model base
Line
2023
2024
2025
2026
2027
2028
2029
2030
CAGR ’26–30
Disclaimer: The data presented here is sourced from the Tasdeeq prospectus and the forecasting through our understanding of the business model and numbers. While every effort is made to ensure accuracy, InvestKaar makes no guarantees regarding completeness or timeliness. This dashboard is for informational and analytical purposes only — it does not constitute investment advice, a recommendation, or a solicitation. Please verify all figures independently before making any investment decisions. Past performance is not indicative of future results.