iTANZ Technologies Limited shareholders have approved an increase in the company’s authorised capital from Rs1.20 billion to Rs5 billion during an Extraordinary General Meeting (EOGM) held on July 31, 2026. The approval was disclosed through a filing submitted to the Pakistan Stock Exchange (PSX), marking a significant corporate restructuring step for the company.
Following the approval, the company’s authorised capital has been increased from 120 million ordinary shares of Rs10 each to 500 million ordinary shares of Rs10 each. The amendment updates the company’s authorised share structure and provides greater flexibility for future capital requirements and business activities.
The shareholders approved amendments to Clause VI of the Memorandum of Association and Clause 4 of the Articles of Association to reflect the revised authorised capital of Rs5 billion. The updated structure allows the company to issue additional ordinary shares while maintaining the same value and rights framework. The newly issued ordinary shares will carry equal voting rights and will rank pari passu with existing shares, ensuring that all shareholders receive the same rights and benefits in accordance with the Companies Act, 2017.
During the meeting, shareholders also authorised the Chief Executive Officer, Chief Financial Officer, and Company Secretary to complete all required procedures for implementing the approved resolutions. The authorised officials will handle necessary regulatory filings, including submissions to the Registrar of Companies and the Securities and Exchange Commission of Pakistan (SECP). The EOGM also confirmed the minutes of the company’s previous Extraordinary General Meeting held on June 27, 2026, completing the required corporate approval process.
iTANZ Technologies Limited, previously known as Zahur Cotton Mills Limited, was incorporated as a public company limited by shares on April 21, 1990, under the repealed Companies Act, 1913, which was later replaced by the Companies Ordinance, 1984. The company initially operated in the textile sector, focusing on the manufacturing and sale of greige fabric. However, its principal business activities have since been revised to include information technology consultancy and IT-enabled services.
The company’s updated business scope includes software development, installation, implementation services, and other technology-related supplies and solutions. The shift reflects iTANZ Technologies’ move toward participating in Pakistan’s growing IT and digital services sector. The increase in authorised capital provides the company with additional capacity to manage future financial requirements, support potential expansion plans, and strengthen its position within the technology services market. The move comes as Pakistan’s IT sector continues to see increased participation from companies expanding their digital offerings and technology-based services.
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