Ittehad Chemicals raises Rs1.5 billion through short-term sukuk

Ittehad Chemicals Limited has raised Rs1.5 billion through the issuance of rated, unsecured and privately placed short-term sukuk certificates.

The company said the certificates, titled “Sukuk-I”, were issued to qualified institutional buyers for a tenure of up to six months from the date of drawdown.

Proceeds from the issuance will be used to meet the company’s working capital requirements.

The transaction was completed on July 20, 2026, which also marked the issue date, according to a notice submitted to the Pakistan Stock Exchange.