Karachi: Mughal Iron and Steel Industries Limited has successfully completed the repayment of its Sukuk-III certificates, which were privately placed, unsecured, and rated, amounting to a total of Rs. 3 billion. The repayment was due on October 18, 2024, and has been fully settled, marking a significant financial milestone for the company.

The Sukuk-III certificates, a form of Islamic bond compliant with Shariah law, were issued to raise capital for the company’s operations and development projects. According to information available from the Pakistan Stock Exchange (PSX), the completion of these payments not only demonstrates Mughal Iron and Steel’s financial reliability but also its commitment to upholding its obligations to investors.

This repayment is expected to positively influence the company's credit standing and investor confidence, reflecting its strong financial management and operational success. It also highlights the robustness of Islamic financial instruments in the corporate finance landscape of Pakistan.

Mughal Iron and Steel has informed all relevant stakeholders, including the TRE Certificate Holders of the Exchange, about the successful conclusion of these payments, ensuring transparency and adherence to regulatory requirements.