Karachi: Baluchistan Glass Limited has augmented its paid-up capital through a significant issuance of shares, as confirmed by an auditor's certificate dated March 19, 2025. The issuance was executed "by way of other than right," following approval from the Securities and Exchange Commission of Pakistan (SECP).

The company has issued 376,912,057 new ordinary shares, each valued at Rs. 10, thereby increasing its paid-up capital from Rs. 2.62 billion to Rs. 6.39 billion. Prior to this issuance, the company had 261,600,000 shares, which have now been increased to a total of 638,512,057 shares. This strategic move was facilitated by a substantial subscription amount of Rs. 3.77 billion received from MMM Holding (Private) Limited.

The transaction aligns with Corporate Action No. 2 under the Central Depository System (CDS) Standard Operating Procedures. As part of regulatory compliance, the statutory auditors have verified that all procedural requirements were met, including the necessary filings with the SECP and the Central Depository Company (CDC).

According to information available from the Pakistan Stock Exchange (PSX), Baluchistan Glass Limited has duly paid the PSX listing fee and the SECP supervisory fee for the increase in paid-up capital. The net amount paid, after deductions, amounted to Rs. 9.05 million. This payment was executed via a cheque drawn on Meezan Bank Limited, Lahore.

Additionally, the regulatory conditions imposed by the SECP have been fulfilled, including obtaining the concurrence from MMM Holding (Private) Limited regarding the freezing of their newly acquired shares for a period of two years. This strategic maneuver reflects the company's compliance with the Companies Act, 2017, and the Companies (Further Issue of Shares) Regulation, 2020.

The designated market category for Baluchistan Glass Limited remains unchanged as this capital increase aims to bolster its financial structure and operational capacity.