Supernet Technologies’ Rs915mn rights issue attracts 98.16% subscription
Supernet Technologies Limited (PSX: STL) has received subscriptions of nearly Rs898 million against its rights issue of approximately Rs914.77 million, reflecting a subscription rate of 98.16%. According to a notice submitted to the Pakistan Stock Exchange (PSX) on Monday, only 1.84% of the rights issue remained unsubscribed following the completion of the subscription process. The company had…
Supernet Technologies Limited has witnessed a remarkable response to its rights issue, with nearly 98.16% of the allocated shares being subscribed. This significant uptake, valued at approximately Rs915 million, follows an 85% rights issue announced by the company. As of the latest update, only 1.84% of the rights issue remains unsubscribed.
The primary objective of this rights issue is to bolster the company's working capital position, facilitate the execution of larger and capital-intensive projects, and partially fund obligations under the Share Purchase Agreement with Telecard Limited. Supernet Technologies has been diversifying its portfolio across telecommunications, IT, cybersecurity, and related technology solutions, resulting in a substantial increase in revenue.
Non-service revenues have surged from Rs682 million in FY2021 to over Rs5 billion in FY2025, while the services segment generated more than Rs4.2 billion in FY2025, contributing to an overall annual revenue of approximately Rs9.2 billion. The company has also secured substantial technology and cybersecurity projects, including a significant hardware and services project valued at around Rs1 billion, expected to commence in FY2026 and FY2027.
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