Chakwal Spinning Mills Limited has announced a major transformation, renaming itself as Infini Data Technologies Limited and shifting its primary business focus to Information Technology (IT).
The decision was approved during a Board of Directors meeting held on January 3, 2025, at the company’s registered office.
According to a notification sent to the Pakistan Stock Exchange (PSX), the proposed name change is subject to clearance from the Securities and Exchange Commission of Pakistan (SECP).
“The Board of Directors (BOD) of the company in their meeting held on Friday, 03rd January 2025 at 11:00 a.m. at the registered office of the company has approved the new name of the company as “Infini Data Technologies Limited.” The proposed name is subject to availability from SECP,” read company’s notice sent to the PSX.
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The board further approved the change in the primary line of business of Chakwal Spinning Mills to Information Technology (IT).
The Pakistan Stock Exchange has been requested to inform the TRE Certificate holders about this decision.
In August 2024, Chakwal Spinning Mills signed an investment deal of Rs 7.784 billion with PNO Capital Limited to launch the data centre and cloud operations across the country.
In January 2024, the Chakwal Spinning Mills Board approved the MOU for a merger/acquisition with one of Pakistan’s leading technology companies. It said in its notice to the PSX that the chosen technology firm has a global presence in the USA, UAE, Philippines, and China.
