KARACHI: In a significant development on the corporate front, IGI Holdings Limited has announced the divestment of its equity stake in Mitchell’s Fruit Farms Limited to CCL Holding (Private) Limited.
The transaction also includes the stake held by Babar Ali Foundation, a substantial shareholder of IGI Holdings, marking a shift in the ownership structure of one of Pakistan’s oldest and most recognized food processing companies.
In an official communication to the Pakistan Stock Exchange (PSX), IGI Holdings disclosed that the transaction took place on July 23, 2025, following the completion of requisite corporate and regulatory procedures. The shares were sold at a negotiated price of Rs. 232.75 per share.
According to the disclosure, IGI Investments (Private) Limited — a wholly owned subsidiary of IGI Holdings — divested its entire 3.72 percent stake in Mitchell’s Fruit Farms.
Simultaneously, Babar Ali Foundation, founded by Syed Babar Ali (who also serves as Chairman of IGI Holdings), along with its board members, collectively sold 3.13 percent of their holdings. Of this, 2.43 percent was held by the Foundation itself and 0.70 percent by board members individually.
Mitchell’s Fruit Farms Limited, incorporated in Pakistan, is a household name and a pioneer in the local food processing industry.
The company is principally engaged in the manufacturing and sale of a wide range of farm-based and confectionery products.
Copyright Business Recorder, 2025
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