Shakarganj Food issues Sukuk of Rs725m

Staff Reporter

Lahore

Shakarganj Food Products Limited (SFPL), Company’s CEO Anjum M. Saleem has announced that the company has raised Rs725 million from the debt market through the issuance of an Islamic bond (Sukuk).
SFPL is a Public Limited Company (unquoted), commenced its business in 2006. The company is mainly involved in producing dairy products i.e UHT Milk dairy products and Juice Concentrates. SFPL operates one Dairy Plant located in ‘Jaranwala’ and other Fruit Pulp Plant in ‘Chiniot’. Product portfolio of the company include plain and flavored UHT milk, tea creamers, UHT cream, desi ghee, fruit concentrates and juices. The main brands of SFPL are GoodMilk, Dairy Pure, Qudrat, Chaika, Oolala, Anytime, Refresh and Joose.
SFPL has successfully issued a Privately Placed, rated and secured Sukuk Rs 725 million for six years (including grace period of 1 year) in order to fulfill its capacity expansion plans. The Sukuk is rated ‘A’ by JCR-Vis Credit Rating Company Limited. The company mandated Bankislami Pakistan Limited as Lead Advisor and Arranger for the transaction.

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