Supernet Limited (GEMSPNL), a wholly owned subsidiary of Telecard Limited, has formally merged with and into Supernet Technologies Limited following the sanction of a Scheme of Arrangement by the Sindh High Court. As a result of the court-approved consolidation, Supernet Technologies Limited emerges as the surviving listed entity and will continue trading on the main board of the Pakistan Stock Exchange under the symbol STL.
In a notice submitted to the PSX, STL confirmed that the Honourable High Court of Sindh at Karachi allowed the petition and sanctioned the proposed arrangement through an order dated February 24, 2026. With the merger now effective, all assets, liabilities, rights, and obligations of Supernet Limited have been vested in STL. The consolidated entity will operate under the name Supernet Technologies Limited, marking the culmination of a multi-year restructuring within the broader Supernet Group.
As part of the capital reorganisation embedded in the Scheme of Arrangement, STL will capitalise its accumulated profits and issue 5.5 million fully paid-up ordinary shares of Rs10 each to its existing shareholders. The allotment will be made in the ratio of 11 shares for every one share currently held. This internal capitalisation will be followed by the issuance of 101.62 million fully paid-up ordinary shares of Rs10 each to the shareholders of Supernet Limited in accordance with the approved share swap ratio.
Following the issuance of new shares, STL’s issued and paid-up share capital will expand to approximately Rs1.076 billion, comprising around 107.6 million ordinary shares. The restructuring significantly enlarges the capital base of the merged entity and consolidates operations under a single listed platform.
Supernet Limited, previously listed on the Growth Enterprise Market Board of the PSX, was founded in 1995 and has operated as a nationwide provider of data connectivity and digital infrastructure services. Over three decades, the company established operational coverage across more than 200 cities and towns, building a footprint that spans enterprise connectivity, infrastructure deployment, and digital communications.
Beyond its core connectivity business, Supernet diversified into mission-critical communications, cybersecurity solutions, managed services, Internet of Things applications, and integrated ICT infrastructure offerings. The expansion was supported by specialised subsidiaries focused on infrastructure deployment, software solutions, and selected international markets, positioning the group as a comprehensive technology services provider.
The merger is the latest step in a broader restructuring strategy aimed at consolidating listed entities within the Supernet Group under a unified corporate structure. In 2023, Supernet Infrastructure Solutions (Private) Limited acquired Hallmark Company Limited, a main board-listed technology company. Subsequently, Telecard Limited acquired STL and became the majority shareholder of Supernet Limited, creating the structural foundation for the present consolidation.
Post-merger, Telecard Limited will hold approximately 61.7 percent of STL’s share capital, strengthening its position as the ultimate controlling shareholder of the group. The unified structure is expected to streamline governance, optimise capital allocation, and create operational synergies across digital infrastructure, cybersecurity, and enterprise solutions segments.
The consolidation places Supernet Technologies Limited as a larger, integrated digital infrastructure and ICT player within Pakistan’s listed technology landscape, with an expanded balance sheet and a consolidated operational footprint aligned under a single trading symbol on the PSX main board.
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