Supernet will raise 475 million rupees thanks to its initial public offering – Business & Finance

KARACHI: Supernet Limited plans to raise Rs 475 million through an initial public offering (IPO) of its 18.81% post-offer share capital. The capital raised by listing the company on the GEM board of the Pakistan Stock Exchange (PSX) will consist of new capital of Rs 275 million in Supernet and a “sell offer” from Telecard Limited of Rs 200 million.

Supernet is the first technology company to be listed on the GEM Board of the Pakistan Stock Exchange.

PSX approves the application for registration of Supernet, a subsidiary of Telecard

The issue consists of 21,111,121 ordinary shares, representing 18.81% of Supernet’s total post-offer paid-up capital with a nominal value of Rs 10 each.

The entire issue will be offered via Book Building on 12 and 13 April 2022, the listing of which will start on 07 April 2022 at a floor price of Rs 22.50 per share, including a premium of Rs 12.50 per action. The upper limit of the price band will not be higher than 40% of the floor price.

Supernet is offered at FY22 PE of 6.7 against an average IT sector PE of 22X, offering significant value to investors. Of the total issue, 8,888,889 shares are offered for sale by Telecard and 12,222,232 shares are offered as new equity.

Supernet’s net profit climbs to 233.41 million rupees

Founded in 1995, it is one of the country’s leading telecommunications service providers and systems integrator. The company offers a comprehensive portfolio of local to global integrated communications infrastructure solutions for telecommunications, defence, private enterprise and government sectors/customers and has a pool of highly skilled and experienced human resources across a wide range of communication and computer technologies spread across Pakistan. in more than 200 cities and towns.

Recently, Supernet Group has been aggressively expanding into Cyber ​​Security, Power Solutions, and IT & Infrastructure Solutions businesses. Proceeds from registration will be used to fund the expansion plan.

To expand into new business segments, SNL created two new subsidiaries: Supernet Secure Solutions Private Limited and Supernet Infrastructure Solutions Private Limited. Another subsidiary, Phoenix Global (Supernet Global Solutions), is a United Arab Emirates-based company that offers a wide range of IT and communication solutions to its international customers. Supernet’s customer base includes major banks, mobile operators, leading multinationals, government and defense institutions, etc.

Copyright Business Recorder, 2022