Key Takeaways
- Supernet Technologies Limited received nearly Rs898 million in subscriptions for its Rs914.77 million rights issue.
- Subscription rate reached 98.16%, with only 1.84% of the rights issue remaining unsubscribed.
- Proceeds will be used to strengthen working capital and support larger projects.
Supernet Technologies Limited has successfully completed its Rs914.77 million rights issue, attracting nearly Rs898 million in subscriptions, with a subscription rate of 98.16%. This high level of subscription underscores the confidence investors have in the company’s future growth prospects.
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 announced an 85% rights issue at Rs10 per share to raise approximately Rs915 million.
The additional capital is intended primarily to strengthen Supernet Technologies’ working capital position, support the execution of larger and increasingly working-capital-intensive projects, and partially fund the consideration payable under the Share Purchase Agreement with Telecard Limited.
Supernet Technologies has been expanding its portfolio across telecommunications infrastructure, information technology, cybersecurity, and related technology solutions. The company’s financial capacity is expected to be enhanced, allowing it to undertake larger projects and support future business growth.
Over recent years, Supernet Technologies has witnessed a significant transformation in its revenue mix. Non-service revenues rose from approximately Rs682 million in FY2021 to more than Rs5 billion in FY2025. Its services business also generated revenues exceeding Rs4.2 billion during FY2025, taking the company’s overall annual revenue to approximately Rs9.2 billion.
The company has secured several major technology and cybersecurity projects, including a recent hardware and services project valued at approximately Rs1 billion, which is expected to be executed during FY2026 and FY2027. This project is expected to further bolster the company’s financial position and contribute to its long-term growth strategy.
Supernet Technologies’ strong financial performance and successful rights issue reflect the company’s commitment to expanding its market presence and driving innovation in the telecommunications and technology sectors. The additional capital will enable the company to pursue larger and more complex projects, further solidifying its position in the industry.
