GTECH: Rs1bn of Rs2.56bn right subscription remains unutilized
MG News | April 17, 2023 at 02:09 PM GMT+05:00
April 17, 2022 (MLN): G3 Technologies Limited (PSX: GTECH) has Rs1 billion unutilized funds out of Rs2.56bn of the right subscription amount for the quarter ended March 31, 2023, while Rs1.25bn has been utilized for Calcium Carbide Project, and Rs276.89mn as working capital requirements, the company’s quarterly progress report issued to PSX showed today.
For the Calcium Carbide Project, the right subscription amount is Rs1.62bn.
The project shall completely provide import substitution to Pakistan as the plant will help the company to indigenize the production of many by-products, besides enabling the company to tap the export market.
Meanwhile, the company did not utilize any amount on the Supercapacitor Project out of Rs650mn.
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