Ittehad Chemicals Secures Rs1.5 Billion Via Short-Term Sukuk

Ittehad Chemicals has obtained Rs1.5 billion through a six-month sukuk issue, with the proceeds earmarked to strengthen its working capital.

Ittehad Chemicals Limited has arranged Rs1.5 billion in fresh funding through the issuance of rated, unsecured, privately placed short-term sukuk certificates, according to a filing submitted to the Pakistan Stock Exchange (PSX). The financing was offered exclusively to qualified institutional investors.

The Islamic financing instrument, named Sukuk-I, carries a maturity of up to six months from the drawdown date. The company confirmed that the transaction was completed on July 20, 2026, with the same date serving as the official issuance date.

The capital raised is intended to support the company’s day-to-day funding needs, helping maintain operational liquidity and finance routine business activities. Short-term sukuk are commonly used by companies seeking Shariah-compliant financing while managing working capital efficiently.

According to the company’s PSX filing, “The proceeds from the issuance will be utilized to meet the company’s working capital requirements.”