TOMCL fully utilizes Rs 810mn right issue proceeds

MG News | October 22, 2026 at 03:39 PM GMT+05:00

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October 22, 2026 (MLN): The Organic Meat Company Limited (PSX:TOMCL) has fully utilized the Rs 810mn raised through its right issue, with no amount left unutilized.

The company put Rs 350mn towards reducing high-cost debt with banks, Rs 260mn into its beef tripe cooking (heat treated) and red offals processing unit, and Rs 200mn into working capital, matching the allocation of funds in each category.

The report was filed in line with Regulation 10(2) of the Companies (Further Issue of Shares) Regulations, 2020, with reference to the right issue the company completed on March 28, 2025.

Debt reduction accounted for about 43.21% of the proceeds, the processing unit for 32.1% and working capital for 24.69%.

The aforementioned information was disseminated through a notification to Exchange.

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