Palash Securities Limited — Important, 20-11-2024: Updates

Morton Foods Limited (MFL), a material unlisted subsidiary of Palash Securities, has successfully raised ₹25.32 Crore through a rights issue, issuing 1,01,28,707 equity shares at ₹10 each, with an additional premium of ₹15 per share. Following this capital raise, Palash Securities and its subsidiaries now hold a 61.27% equity stake in MFL. This move strengthens Palash's financial position and support for MFL's ongoing operations. Investors should watch closely as this capital infusion may position MFL for growth, enhancing its market capabilities and potentially improving overall returns.