Supernet Technologies raises Rs915 million via rights issue with 98.16% subscription
Supernet Technologies Limited (PSX: STL) secured nearly Rs898 million from a rights issue, aimed at bolstering working capital and funding larger telecom and IT projects.
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Desk Analysis
How This Affects the Exchange
Sector Effect
Positive · Buy bias
Technology sector and STL benefit from strong rights‑issue subscription, creating a Buy bias.
Sectors & Direction
Desk read
Desk call: Buy bias · Positively affected
- TechnologyPositively affected
Companies
Companies Mentioned
- STL· Positively affected · Buy bias
Mentions in This Briefing
Sectors: Technology — Positive · Buy bias. PSX tickers: STL. Technology sector and STL benefit from strong rights‑issue subscription, creating a Buy bias.
Full Story
Open on Business Recorder## Rights Issue Subscription
Supernet Technologies Limited (PSX: STL) announced that its recent rights issue, priced at Rs10 per share, attracted subscriptions amounting to almost Rs898 million, representing a 98.16% subscription rate against the targeted Rs914.77 million.
## Purpose of the Funds
The proceeds are earmarked primarily to strengthen STL’s working‑capital position, enable execution of larger and more capital‑intensive projects, and partially fund the consideration payable under the Share Purchase Agreement with Telecard Limited.
## Business Expansion
STL has been expanding its portfolio across telecommunications infrastructure, information technology, cybersecurity and related technology solutions. The additional capital is expected to enhance its financial capacity to undertake bigger projects and support future growth.
## Recent Performance
The company’s revenue mix has shifted dramatically, with non‑service revenues rising from roughly Rs682 million in FY2021 to over Rs5 billion in FY2025. Its services segment generated more than Rs4.2 billion in FY2025, taking total annual revenue to about Rs9.2 billion.
## Upcoming Projects
STL has secured several major technology and cybersecurity contracts, including a hardware and services project valued at approximately Rs1 billion, slated for execution in FY2026‑FY2027.
## Outlook
The successful rights issue and expanding order book position Supernet Technologies to capitalize on growing demand for telecom and IT infrastructure in Pakistan and abroad.