Mughal Iron & Steel Industries Limited Announces Sukuk Offering

Karachi: Mughal Iron & Steel Industries Limited, a prominent player in Pakistan’s steel industry, has announced the issuance of Sukuk with the symbol MUGHALSC. These Sukuk come with a tenor of 5 years and offer a profit rate of 3M KIBOR + 1.3%. The total issue size for these Sukuk is Rs. 3,000,000,000, with the next coupon date scheduled for 02-Dec-2023.Investors and industry analysts will closely monitor the response to Mughal Iron & Steel Industries Limited’s Sukuk offering, as it represents an important financing move in the steel sector. The funds raised through this Sukuk issuance may be utilized for the expansion and development of the company’s operations.