Amreli Steels shareholders approve 60% increase in authorised capital to Rs8bn

Shareholders of Amreli Steels Limited have approved an increase in the company’s authorised share capital from Rs5 billion to Rs8 billion, according to a notice submitted to the Pakistan Stock Exchange.

The special resolution was passed at the company’s extraordinary general meeting held on June 17, 2026, at the Institute of Chartered Accountants of Pakistan in Clifton, Karachi.

The approval raises Amreli Steels’ authorised capital by Rs3 billion, or 60%, and increases the number of ordinary shares the company is permitted to issue.

Under the revised capital structure, the company’s authorised capital will comprise 800 million shares with a face value of Rs10 each.

This includes 720 million ordinary shares and 80 million cumulative preference shares.

Before the resolution, the company’s Rs5 billion authorised capital consisted of 420 million ordinary shares of Rs10 each and 80 million cumulative preference shares of the same face value.

The increase, therefore, creates room for the potential issuance of an additional 300 million ordinary shares. The authorised number of cumulative preference shares remains unchanged at 80 million.

The resolution increases the company’s capacity to issue shares but does not itself amount to the issuance or allotment of new shares.

Shareholders also approved amendments to Clause V of the company’s Memorandum of Association and Clause 3 of its Articles of Association to reflect the revised capital structure.

Under the amended provisions, Amreli Steels will have the authority to increase, reduce, subdivide or reorganise its capital and divide its ordinary and preference share capital into different classes in accordance with applicable laws.

The company said any ordinary shares issued under the enhanced authorised capital would carry equal voting rights and rank pari passu with its existing ordinary shares in all respects.

This means newly issued ordinary shares would have the same rights and status as the company’s existing ordinary shares, subject to the Companies Act, 2017.

The shareholders also authorised the Chief Executive Officer, Chief Financial Officer and Company Secretary, acting individually, to complete the required regulatory and corporate formalities.

These include filing the relevant documents and returns with the Registrar of Companies and the Securities and Exchange Commission of Pakistan, as well as taking other steps needed to implement the resolutions.