Mughal Iron & Steel Industries Limited (PSX: MUGHAL) has successfully raised Rs2 billion through the issuance of its Sukuk VIII, the company announced in a notice submitted to the Pakistan Stock Exchange (PSX). The total Sukuk issue size is up to Rs2.5 billion, including a Green Shoe Option of Rs500 million. Mughal Steel said the Green Shoe Option remains open, and the company will notify the market separately if the additional amount is successfully subscribed. Based in Lahore, Mughal Iron & Steel Industries Limited is one of Pakistan’s leading manufacturers of long rolled steel products. The Pakistan Stock Exchange-listed company traces its origins to the early 1950s and supplies steel products to the country’s construction and infrastructure sectors.