ASTL Receives Rs 1bn Subscription and Confirms Share Allotment

Amreli Steels Limited (ASTL) announced that it has received the full subscription amount of PKR 1,000,000,000/- (One Billion) against the allotment of 40,000,000 (Forty Million) ordinary shares of PKR 10/- each.

ASTL had previously conveyed the approval for the issuance of these shares at a subscription price of PKR 25/- per share, including a premium of PKR 15/- per share, to Mr. Shayan Akberali, an existing sponsor of ASTL. Accordingly, the said shares have been duly issued to the allottee and have been successfully credited to his account in the Central Depository System.

📢 Announcement: We're on WhatsApp – Join Us There! 

Consequent to the above, the paid-up capital of ASTL now stands increased to PKR 3,370,114,270/- (Three Billion Three Hundred Seventy Million One Hundred Fourteen Thousand Two Hundred Seventy) (i.e. 337,011,427 ordinary shares of PKR 10/- each). ASTL has completed all requisite formalities in connection with the allotment of shares and the increase in paid-up capital.

According to the KSEStocks Database, ASTL is covered by 2 analysts in Pakistan and they have an average price rating of PKR 30. This average price target suggests an upside of 23% from the last close of PKR 23.99.

According to EPS estimates from 4 different brokers, astl has an average 2026 EPS expectation of -0.6. This suggests the stock is now trading at a forward PE of 8.4.

Why do we compile research firms’ forecasts? Broker research is fragmented across different houses. Compiling it in one place helps investors see consensus, identify divergence, and think independently rather than relying on a single view.

You can get access to our database for a small fee of PKR 333 per month (PKR 999 per quarter). You can get in touch with us via WhatsApp:

⚠️ This post reflects the author’s personal opinion and is for informational purposes only. It does not constitute financial advice. Investing involves risk and should be done independently. Read full disclaimer →