Mughal Steel Raises Rs. 2 Billion Through Sukuk

Mughal Iron & Steel Industries Limited (PSX: MUGHAL) has successfully raised Rs. 2 billion through the issuance of its Sukuk VIII, A rated, secured, privately placed, OTC listed, mid term Sukuk offered to Qualified Institutional Buyers (QIBs), the company said in a notice to the Pakistan Stock Exchange.

The three year Sukuk was issued to meet the company's working capital requirements. The transaction was completed on Aug. 5, 2026, which also served as the issue date.

The total issue size is up to Rs. 2.5 billion, including a Green Shoe Option of Rs. 500 million.

The company said the Green Shoe Option remains open and that it will notify the market separately if the additional amount is successfully placed.

Mughal Iron & Steel Industries Limited is a Lahore based, Pakistan Stock Exchange listed steel manufacturer and one of the country's leading producers of long rolled steel products. The company traces its roots to the early 1950s and supplies steel products for Pakistan's construction and infrastructure sectors.

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