Mughal Iron & Steel Industries Limited has raised Rs. 2 billion through the issuance of its Sukuk VIII to strengthen its working capital requirements, according to a notice submitted to the Pakistan Stock Exchange (PSX).
The company issued the three year, A rated, secured, privately placed, OTC listed Sukuk to Qualified Institutional Buyers (QIBs), with August 5, 2026, serving as the issue date.
The total Sukuk size has been set at up to Rs. 2.5 billion, including a Green Shoe Option of Rs. 500 million. Mughal Steel said the additional option remains open and the company will inform the market separately if the remaining amount is successfully placed.
Mughal Iron & Steel Industries, a Lahore based PSX listed steel manufacturer, produces long rolled steel products used in Pakistan’s construction and infrastructure sectors.
The company, which traces its origins to the 1950s, is among Pakistan’s major steel producers and continues to expand financing avenues to support its operational needs and growth plans.
