SIL Investments Limited's board approved an investment of up to Rs. 2.42 crore in Morton Foods Limited (MFL), an unlisted company, on 28 Mar 25. The equity shares will be acquired from the promoters of MFL.

Key details of Morton Foods Limited:

• Equity Share Capital (as of 31 Mar 24): Rs. 21.10 crore
• Turnover (year ended 31 Mar 24): Rs. 35 crore
• Industry: Fast-Moving Consumer Goods (FMCG)
• The transaction qualifies as a related party transaction as the shares are being acquired from promoters who are also promoters of SIL Investments Limited; the transaction will be done at arm’s length.
• The acquisition is expected to be completed on or before 31 Mar 25 and will be against cash consideration.
• Approx. 3.10% of shareholding will be acquired, resulting in a cumulative holding of 6.71%.
• MFL, incorporated on 19 Mar 15, operates in the consumer goods sector, offering products like jams, ketchup, juices, canned fruits & vegetables, and ready-to-eat meals, with presence only in India.
• Turnover for the past three financial years:
  • 2023-24: Rs. 35 crore
  • 2022-23: Rs. 45.28 crore
  • 2021-22: Rs. 50.79 crore