Karachi: The Organic Meat Company Limited has achieved full subscription for its right shares, amounting to 810.00 million Pakistani Rupees, following a request for a No Objection Certificate (NOC) to release the subscription money. This marks a significant step forward for the company, enhancing its capital structure with the issuance of 30,000,000 right shares. The development follows compliance with a letter from the Pakistan Stock Exchange dated November 19, 2024.

According to documents, the right shares were offered at a price of 27.00 Pakistani Rupees each, which includes a premium of 17.00 Rupees per share. The subscription was completed by March 20, 2025, with the full amount deposited into designated bank accounts. The allocation was divided among the company’s directors and substantial shareholders, the general public, and an unsubscribed portion that was taken up following a Board of Directors resolution on March 19, 2025.

The Organic Meat Company Limited’s management ensured compliance with regulatory requirements, including the Companies Act 2017 and rules set by the Central Depository Company of Pakistan (CDC) and the Pakistan Stock Exchange (PSX). According to information available from the Pakistan Stock Exchange (PSX), the company has now requested the issuance of an NOC for the release of the right shares subscription amount, facilitating the formal completion of the transaction.

The auditors, having verified the subscription and receipt of funds, issued a certificate confirming compliance with the regulatory framework. The company’s paid-up capital post-right issue stands at 1.78 billion Rupees, with no conditions imposed by regulatory bodies, including the Securities and Exchange Commission of Pakistan, at this stage.

In the designated market category, The Organic Meat Company Limited’s successful capital raise through fully subscribed right shares illustrates the company’s robust standing and commitment to regulatory adherence, paving the way for future growth opportunities.