Palash Securities Acquires 61.27% Stake in Morton Foods Limited for Rs. 6,00,00,000

Palash Securities Limited, a holding company, has acquired 24,00,000 Equity Shares in Morton Foods Limited, a canned fruits and vegetables company, through a Rights Issue. The total cost of acquisition was Rs. 6,00,00,000, with each share costing Rs. 25. Palash Securities Limited, along with its subsidiaries, now holds 61.27% equity stake in MFL. Morton Foods Limited, incorporated on 19th March, 2015, has a turnover of Rs. 35 crore in the financial year 2023-24, Rs. 45.28 crore in 2022-23, and Rs. 50.79 crore in 2021-22. The company is based in India and operates in the business of canned fruits and vegetables, offering a diverse range of products including jams, ketchup, juices, and ready-to-eat meals.