KARACHI: Bawany Air Products Limited (PSX: BAPL) has received approval from the Securities and Exchange Commission of Pakistan (SECP) to significantly increase its authorised capital from Rs150 million to Rs11 billion, the company announced in a filing to the Pakistan Stock Exchange on Wednesday.
The approval marks a major step for the industrial gas producer, which has also submitted Form 7 and paid the requisite fee of Rs43.86 million to complete the process.
Incorporated on August 16, 1978, BAPL is a public limited company engaged in the production and trading of industrial gases including oxygen, dissolved acetylene, and nitrogen. The company was originally registered under the Companies Act, 1913—now replaced by the Companies Act, 2017.
The sharp increase in authorised capital signals potential expansion plans or future fundraising initiatives, though the company has yet to disclose how the newly approved capital will be deployed.
