Fast Cables shareholders approve Rs748m IPO funds for working capital
METTIS GLOBAL • • 1 min read
Fast Cables shareholders have approved directing Rs747.763 million of surplus IPO funds to the company’s working capital, Mettis Global reported on October 22, 2026. The approved amount forms part of Rs3.130 billion raised through the company’s 2024 public offering.
The resolution also includes Rs328.976 million earned on the surplus funds by June 30, 2026, together with any additional return accrued before the annual general meeting. Its implementation depends on securing the necessary permissions and approvals. The company has empowered its chief executive, finance chief and company secretary to complete the required steps, filings and disclosures, individually or together.
At a glance
- Shareholders approved Rs747.763 million of surplus IPO funds for working capital.
- The approval includes Rs328.976 million in returns recorded by June 30, 2026.
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Originally reported by METTIS GLOBAL
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