The Board of Directors of Packages Limited (PSX: PKGS) have approved an investment of up to Rs3 billion into wholly owned subsidiary, StarchPack (Private) Limited. The company announced the development in a stock filing on Friday.
The capital injection will be made through multiple channels, including ordinary share capital, subordinated debt, and the conversion of existing loans into equity. The move remains subject to compliance with relevant laws and the acquisition of necessary corporate and regulatory approvals.
StarchPack, a 100% subsidiary of Packages Limited, specializes in the manufacturing and sale of corn-based starch products, their derivatives, and related by-products.
“This investment underscores our commitment to strengthening StarchPack’s operational capacity and enhancing its position in the starch industry,” the company noted in its PSX filing.
The initiative reflects Packages Limited’s strategic focus on diversifying its portfolio and reinforcing its footprint in allied industries.
