Karachi: Agha Steel Industries Limited has announced the successful allotment of 116,501,993 ordinary shares, a move that has significantly increased the company’s paid-up capital. This allotment, executed under Section 83(1)(h) of the Companies Act, 2017, was finalized on May 7, 2026, following the approval of the Securities and Exchange Commission of Pakistan (SECP).

The company’s paid-up capital has risen from 604,879,058 ordinary shares to 721,381,051 ordinary shares, amounting to a total of Rs. 7.21 billion. The allotment was made against the conversion of outstanding director loans and advances, as disclosed in the statutory Form 3 filed and approved via the SECP e-portal.

The newly allotted shares have been distributed among four individuals. Ms. Shazia Iqbal Agha received the largest allocation of 91,501,993 shares, valued at Rs. 915.02 million. Ms. Natasha Iqbal was allotted 8,333,334 shares worth Rs. 83.33 million, while Mr. Saad Iqbal and Mr. Danish Iqbal each received 8,333,333 shares, also valued at Rs. 83.33 million each.

According to information available from the Pakistan Stock Exchange (PSX), the increase in paid-up capital is expected to have a significant impact on the company’s financial structure. The disclosure of this material information is in alignment with Sections 96 and 131 of the Securities Act, 2015, and the relevant provisions of the PSX Rule Book.

Stakeholders and TRE Certificate Holders have been duly informed of these developments. The completion of this allotment marks a notable milestone for Agha Steel Industries as it continues to enhance its capital base.