First IBL Modaraba has announced plans to establish a new subsidiary aimed at exploring business opportunities in Electric Vehicle (EV) mobility, trading activities and other potentially profitable sectors.
In a material information disclosure submitted to the Pakistan Stock Exchange (PSX) on November 6, 2026, the company revealed that its Board of Directors had granted in-principle approval for the formation of a subsidiary. The decision was made during a board meeting held on October 27, 2026.
According to the disclosure, the proposed subsidiary will focus on identifying and pursuing business opportunities in several areas, including Electric Vehicle (EV) mobility and its related businesses, trading activities and other profitable ventures.
The company’s proposed move reflects an intention to explore new business avenues and potentially diversify its operations. The EV mobility sector, in particular, offers opportunities associated with the growing development of electric transportation and related services.
However, the establishment of the subsidiary remains subject to obtaining the necessary regulatory approvals and completing all applicable legal and statutory formalities.
The company has not yet disclosed details regarding the subsidiary’s investment size, operational launch timeline or specific business projects. Further information may emerge once the required approvals and formalities are completed.
The announcement was signed by Muhammad Ilyas, Chief Executive of First IBL Modaraba, and submitted in accordance with the material information disclosure requirements of the PSX Rule Book.
The proposed subsidiary could provide First IBL Modaraba with an opportunity to explore additional revenue streams and participate in emerging business sectors. Its actual impact will depend on the final structure, investment decisions and successful execution of its proposed business activities.
