Lahore: Nishat Power Limited (NPL) announced its acquisition of 1,326,500 voting shares in Rafhan Maize Products Company Limited (RMPL), representing 14.36% of RMPL's total issued voting shares, according to a notification under Section 110 of the Securities Act, 2015. The acquisition, disclosed on July 2, 2026, marks a strategic move by NPL, as it previously held no shares in RMPL.

The acquisition, completed on June 30, 2026, involved purchasing shares at an average rate of Rs. 9,800 per share. Of the total shares acquired, 1,108,377 were purchased from Ingredion Incorporated, based in Westchester, Illinois, and 218,123 shares from the general public under a Public Announcement of Offer dated March 26, 2026. This acquisition is part of a broader strategy involving affiliates such as Nishat Hotels and Properties Limited and several other entities.

Nishat Power Limited, incorporated on February 23, 2007, is headquartered at Nishat House, 53-A, Lawrence Road, Lahore. The company is authorized to issue shares worth Rs. 5 billion, with an issued share capital of Rs. 3.54 billion. As per the designated market category, NPL operates within the energy and power sector.

NPL's acquisition of RMPL shares is of particular interest, especially given the involvement of notable affiliates like Nishat Mills Limited, D.G. Khan Cement Company Limited, and Nishat Chunian Power Limited, among others. These entities, acting in concert with NPL, have contributed to the strategic acquisition.

According to information available from the Pakistan Stock Exchange (PSX), the acquisition highlights Nishat Power Limited's intention to expand its influence in the maize products sector, leveraging its substantial resources and collaborative efforts with associated companies. The acquisition's impact on RMPL's market dynamics remains to be seen, but the strategic partnership is expected to be significant given the scale of shares acquired and the financial backing behind the move.

The development follows NPL's history of strategic investments and alliances aimed at strengthening its market position and enhancing shareholder value. With this acquisition, NPL aims to capitalize on new opportunities within the maize products industry, which is poised for growth in the coming years.