Supernet Technologies Limited has approved a rights issue worth approximately Rs915 million, with plans to issue 91.48 million ordinary shares at Rs10 per share, subject to regulatory approvals.

Under the proposed offer, eligible shareholders will receive around 85 rights shares for every 100 ordinary shares they hold. The issue represents nearly 85 percent of the company’s existing paid-up capital.

The company said the funds raised will be used to strengthen its capital base and finance ongoing technology projects.

The capital raising comes after the completion of Supernet Technologies’ merger with Supernet Limited, a move that broadened the company’s operations and service portfolio.

Supernet has also expanded its footprint in regional markets through its UAE business while continuing to grow its operations in Pakistan. The company recently secured a communications infrastructure modernization contract worth about Rs1 billion, which is expected to support earnings during FY2026-27.

According to the company, its directors and major shareholder, Telecard Limited, intend to subscribe to their full rights entitlement or arrange for subscriptions. Any remaining unsubscribed shares will be underwritten in accordance with applicable laws and regulatory requirements.