Lahore: Nishat Mills Limited, a prominent player in the textile sector, has secured a controlling interest in Rathan Maize Products Company Limited (RMPL) through a significant transaction executed on June 30, 2026. The acquisition was finalized under a Share Purchase Agreement (SPA) initially dated September 25, 2025, and subsequently amended on December 29, 2025.
According to the agreement, Nishat Mills Limited and its affiliates, collectively referred to as the "Purchasers," have acquired 4,713,831 shares, equivalent to 51.04% of RMPL's shareholding. The shares were distributed among various entities, including Nishat Hotels and Properties Limited, D.G. Khan Cement Company Limited, and Nishat Chunian Power Limited, alongside individual stakeholders such as Mr. Hassan Mansha and Mr. Umer Mansha.
The shares were sold by Ingredion Incorporated USA, a substantial shareholder of RMPL, at a price of PKR 9,800 per share. The transaction was conducted in compliance with Rule 5.6.4 of the Rule Book of the Pakistan Stock Exchange Limited.
In conjunction with this acquisition, the Purchasers have also committed to acquiring additional ordinary shares from members of the Monnoo family, amounting to 1,900,441 shares. These shares, termed the "Monnoo Shares," will be acquired through separate agreements with individual sellers, including Mr. Zulfikar Monnoo and Mr. Wisal A. Monnoo.
According to information available from the Pakistan Stock Exchange (PSX), the transaction marks a significant move in the market, reflecting a strategic expansion by Nishat Mills Limited and its affiliates. The acquisition strengthens the company's position within the sector and aligns with its broader growth objectives.
The shares from the Monnoo family are also priced at PKR 9,800 each and are to be acquired in electronic form, similar to those obtained from Ingredion Incorporated. This broader transaction is anticipated to consolidate Nishat Mills Limited's influence in the designated market category, enhancing its overall operational capacity and market presence.