Karachi: WASL Modaraba Management Limited announced a significant development on December 31, 2025, regarding its financial structure and documentation. The authorized capital of WASL Mobility Modaraba, previously known as First Prudential Modaraba, has been increased from Rs 1.52 billion to Rs 2.00 billion. This increase in capital has been made official through the approval granted by the Registrar Modaraba, Securities & Exchange Commission of Pakistan (SECP), as confirmed by their letter dated December 30, 2025.

The approved increase in authorized capital is a noteworthy move for the Modaraba, allowing it to expand its financial base from 152,217,660 Modaraba Certificates to 200,000,000 Modaraba Certificates, each valued at Rs 10. This development comes in light of the application submitted by WASL Modaraba Management Limited on December 15, 2025, which sought the approval for this capital enhancement along with amendments to the prospectus of the Modaraba.

According to information available from the Pakistan Stock Exchange (PSX), such adjustments in authorized capital and alterations in the prospectus are expected to provide a significant boost to the Modaraba’s market standing, aligning its financial capabilities with its strategic objectives. These changes have been facilitated under Rule 20-A of the Modaraba Companies and Modaraba Rules, 1981, following the approval of the Modaraba’s Board of Directors on September 29, 2025.

The Registrar Modaraba has further permitted amendments relating to the authorized Modaraba fund in the prospectus, while the remaining contents of the document will remain unchanged. WASL Modaraba Management Limited is now tasked with submitting the amended prospectus to ensure compliance with regulatory requirements.

The designated market category for WASL Mobility Modaraba remains focused on financial enhancements and regulatory compliance, paving the way for future growth and stability in its operations.