Supernet Technologies’ Rs915m Rights Issue Secures 98.16% Subscription

Supernet Technologies Limited (PSX: STL) has received subscriptions worth nearly Rs898 million against its rights issue of approximately Rs914.77 million, achieving a subscription rate of 98.16%.

 

According to a notice submitted to the Pakistan Stock Exchange (PSX) on Monday, around 1.84% of the rights issue remained unsubscribed after the subscription period closed.

 

The company had offered an 85% rights issue at Rs10 per share to raise approximately Rs915 million.

 

The funds raised through the issue are primarily aimed at strengthening STL’s working capital, enabling the company to execute larger projects that require higher working capital, and partially financing the consideration payable under its Share Purchase Agreement with Telecard Limited.

 

Supernet Technologies has expanded its operations across telecommunications infrastructure, information technology, cybersecurity and other technology-related solutions.

 

The fresh capital is expected to improve the company’s financial capacity to undertake larger projects and support its growth plans.

 

STL has also significantly diversified its revenue base in recent years. Non-service revenue increased from around Rs682 million in FY2021 to more than Rs5 billion in FY2025, while its services business generated over Rs4.2 billion in FY2025. This brought the company’s total annual revenue to approximately Rs9.2 billion.

 

The company has secured several major technology and cybersecurity contracts, including a recent Rs1 billion hardware and services project, which is expected to be executed during FY2026 and FY2027.

 

The near-complete subscription of the rights issue provides STL with additional funding to support its working capital requirements and pursue larger business opportunities.