ISL seeks shareholder nod to offload CECL stake worth Rs350m

International Steels Limited (PSX:ISL) has notified the Exchange that it plans to sell its full 17% holding in Chinoy Engineering & Construction (Pvt) Limited (CECL), according to Mettis Global. The stake comprises 4,845,000 ordinary shares of Rs10 each, and the proposed price is Rs72.24 per share. The deal would be worth Rs350 million in total and remains subject to regulatory approval.

The board recommended the disposal at its meeting on August 19, 2026, but shareholders must give their approval. That approval will be requested at the 19th Annual General Meeting, set for October 5, 2026. A formal AGM notice will follow later. The company made the disclosure via a filing lodged with the Exchange.