Mughal Energy Board Approves Proposal to Increase Authorized Capital to Rs. 4.5 Billion
Mughal Energy Limited has announced that its Board of Directors has approved a proposal to increase the company’s authorized share capital from Rs. 2.5 billion to Rs. 4.5 billion, subject to approval by shareholders at the company’s forthcoming Annual General Meeting (AGM).
According to a notice issued by the company, the board approved the matter through resolutions passed by circulation on September 17, 2026, in accordance with Section 179 of the Companies Act, 2017.
Under the proposal, the authorized capital will increase from Rs. 2.5 billion to Rs. 4.5 billion. The revised capital structure will include 400 million ordinary shares of Rs. 10 each, while the existing allocation of Series-A Preference Shares and Class B shares will remain unchanged.
The company currently has authorized capital comprising 200 million ordinary shares of Rs. 10 each, along with 27.429945 million Series-A Preference Shares and 22.570055 million Class B shares, each carrying a face value of Rs. 10. Following the proposed change, the number of authorized ordinary shares would rise to 400 million.
The proposed increase remains subject to approval from the company’s members at the forthcoming AGM. Therefore, the board’s decision represents a proposal rather than a completed change in the authorized capital.
Mughal Energy communicated the decision to the Pakistan Stock Exchange and the Securities and Exchange Commission of Pakistan. The notice was signed by Muhammad Fahad Hafeez, Company Secretary of Mughal Energy Limited.
The proposed capital increase provides the company with a larger authorized share base, although the notice itself does not specify how the additional authorized ordinary shares may ultimately be utilized. Any future action involving the issuance of shares would depend on the relevant corporate approvals and applicable regulatory requirements.
