Karachi: Shakarganj Limited has announced a significant change in its corporate structure with the loss of subsidiary status for Shakarganj Food Products Limited, effective June 30, 2026. This development follows the company's decision not to participate in a rights issue due to financial constraints.

Shakarganj Food Products Limited had extended an offer of 16,764,800 right shares to Shakarganj Limited at an issue price of Rs. 15 per share, which included a premium of Rs. 5 per share. The total value of this offering was Rs. 251,472,000. Despite the opportunity, Shakarganj Limited could not subscribe to these shares due to limited financial resources.

Consequently, the company's ownership stake in Shakarganj Food Products Limited decreased from 52.39% to 43.99%. With this change, Shakarganj Food Products Limited no longer qualifies as a subsidiary of Shakarganj Limited. According to information available from the Pakistan Stock Exchange (PSX), the change in shareholding has been duly noted, and the information disseminated to the TRE Certificate Holders of the Exchange.

This development marks a pivotal moment for Shakarganj Limited as it adjusts its investment strategies and financial planning in response to its current economic challenges. The market will be closely watching the company's next steps in managing its corporate portfolio amid these changes.