Karachi: The First Paramount Modaraba has confirmed the approval from the Securities and Exchange Commission of Pakistan (SECP) to enhance its authorized certificate capital from Rs. 250.00 million to Rs. 400.00 million. The increase, authorized through a letter dated February 18, 2025, was officially received by First Paramount Modaraba on February 19, 2025, at 04:01 pm.

The revised capital structure will see the Modaraba's fund divided into 40 million Modaraba Certificates, each valued at Rs. 10, up from the previous 25 million certificates. This strategic financial move has also prompted an amendment to the Modaraba's Prospectus, as approved by the Registrar Modaraba, SECP.

According to information available from the Pakistan Stock Exchange (PSX), First Paramount Modaraba's capital increase positions the entity to potentially enhance its market operations. The change will be communicated to the Trading Right Entitlement (TRE) Certificate Holders of the Exchange, ensuring all stakeholders are informed of this significant development.

This adjustment in capital reflects a broader trend within the designated market category, as entities seek to bolster their financial foundations to support future growth and stability. The decision marks a pivotal step in the Modaraba's strategy to expand its operational capacity and market impact.