Telecard Limited has announced plans to invest up to Rs. 564.12 million in its subsidiary, Supernet Technologies Limited (STL), as part of a proposed right issue aimed at strengthening the company’s financial position and supporting future growth initiatives.
According to a notice submitted to the Pakistan Stock Exchange (PSX), the Board of Directors of Telecard approved resolutions through circulation on June 5, recommending that shareholders authorize the proposed investment during the upcoming approval process.
The company intends to subscribe to Supernet Technologies’ planned right issue with an investment of up to Rs. 564,123,954. The investment will be made at a maximum price of Rs. 10 per share, subject to obtaining all required corporate, regulatory, and shareholder approvals.
A right issue allows existing shareholders to purchase additional shares in proportion to their current holdings, often enabling a company to raise capital while offering investors an opportunity to maintain their ownership stake. Through this mechanism, Supernet Technologies aims to secure additional funding for its operational and strategic objectives.
Telecard’s proposed participation demonstrates its continued commitment to supporting its subsidiary’s long-term development. As a key player in Pakistan’s information and communication technology sector, Supernet Technologies provides a range of connectivity, cybersecurity, satellite communication, and managed network solutions to corporate and government clients.
The planned capital injection could help strengthen Supernet’s balance sheet and provide resources for expansion, technology upgrades, and business development initiatives in an increasingly competitive digital landscape.
The proposal remains subject to shareholder approval as well as compliance with applicable corporate governance and regulatory requirements. Investors and market participants are expected to closely monitor developments related to the right issue and its potential impact on both companies.
The announcement also reflects the growing importance of technology and telecommunications investments in Pakistan, where demand for digital infrastructure, cybersecurity services, and enterprise connectivity solutions continues to rise.
Market analysts often view parent-company investments in subsidiaries as a sign of confidence in future business prospects. If approved, Telecard’s participation in the right issue could reinforce Supernet’s position in the ICT sector while supporting its strategic growth plans.
Further details regarding the timing, structure, and implementation of the proposed right issue are expected to emerge following shareholder consideration and regulatory review. Until then, the investment proposal remains one of the notable corporate developments within Pakistan’s telecommunications and technology industry.
