Supernet Limited (GEMSPNL), a wholly owned subsidiary of Telecard Limited, has been merged with and into Supernet Technologies Limited (STL) pursuant to a Scheme of Arrangement sanctioned by the Sindh High Court, resulting in STL becoming the surviving listed entity. Following the merger’s effectiveness, all assets, liabilities, rights, and obligations of Supernet Limited have been vested in STL, read a statement. The merged entity will continue operations under the name Supernet Technologies Limited and will trade on the main board of the Pakistan Stock Exchange (PSX) under the symbol “STL”. “We are pleased to announce that the Honourable High Court of Sindh at Karachi has allowed the petition, and sanctioned the scheme, pertaining to the proposed arrangement, vide order dated February 24, 2026,” STL said in a notice to the PSX on Thursday. Supernet approves merger with Supernet Technologies Limited As per the statement, under the capital reorganisation approved as part of the Scheme of Arrangement, STL will capitalise its accumulated profits and issue 5.5 million fully paid-up ordinary shares of Rs10 each to its existing shareholders in the ratio of 11 shares for every one share held. Subsequently, STL will issue 101.62 million fully paid-up ordinary shares of Rs10 each to the shareholders of Supernet Limited based on the approved share swap ratio. Following the issuance of new shares, STL’s issued and paid-up share capital will increase to approximately Rs1.076 billion, comprising 107.6 million ordinary shares. Supernet Limited, listed on the Growth Enterprise Market (GEM) Board of the PSX, was founded in 1995 and has operated as a nationwide provider of data connectivity and digital infrastructure services. The company has established operational coverage across more than 200 cities and towns. Over time, Supernet diversified beyond connectivity into mission-critical communications, cybersecurity, managed services, IoT, and integrated ICT infrastructure solutions, supported by specialised subsidiaries operating across infrastructure deployment, software solutions, and international markets. The merger follows a multi-year restructuring within the Supernet Group aimed at consolidating listed entities under a single platform. In 2023, Supernet Infrastructure Solutions (Private) Limited acquired Hallmark Company Limited, a Main Board-listed technology company. Subsequently, STL was acquired by Telecard Limited, and it also became the majority shareholder of Supernet Limited, setting the stage for the merger. Post-merger, Telecard Limited will hold approximately 61.7% of STL’s share capital, consolidating its position as the group’s ultimate controlling shareholder.