Mukka Proteins shareholders have approved the issuance of 2,00,00,000 convertible warrants, aggregating up to ₹470 crore, through a postal ballot. The special resolution was passed with 99.96% of the valid votes cast in favour, deemed approved on July 12, 2026. The approval follows a corrigendum issued on July 06, 2026, which clarified the utilization of proceeds and pricing basis following observations from the National Stock Exchange of India Limited and BSE Limited.

The preferential issue involves the issuance of warrants at a price of ₹23.50 per warrant. The proceeds are proposed to be allocated across working capital requirements, business expansion, and general corporate purposes. The company stated that the allocation provides flexibility to support long-term growth and operational scale.

Voting Results

The remote e-voting process commenced on June 13, 2026, and concluded on July 12, 2026. A total of 22,01,79,675 votes were cast in favour of the resolution, while 82,433 votes were cast against it. The scrutinizer's report, dated July 13, 2026, confirmed that no requests were received from members seeking modification of their votes following the corrigendum.

Pricing and Valuation

The issue price of ₹23.50 per warrant was determined based on the higher of the floor price calculated under Regulation 164(1) of the SEBI ICDR Regulations and the fair value determined by an independent registered valuer. The floor price was calculated at ₹23.18 per equity share, derived from the 90-day volume weighted average price (VWAP) on the NSE. The fair value, assessed by Ms. Kavita Joshi, Chartered Accountant and Registered Valuer, was determined at ₹18.14 per share.

Mukka Proteins Limited has entered into a loan agreement with its subsidiary, United Gulf Fishery Products LLC, to provide financial assistance for urgent business commitments. The company will extend an unsecured loan of up to Rs 9.10 crore to the subsidiary at an interest rate of 8% per annum. The tenure for the loan is set at five years from the date of disbursal.

The loan agreement was executed on July 9, 2026. As of the date of disclosure, the total amount outstanding under this facility stands at Rs 3,01,22,744.17. The transaction is classified as a related party transaction and has been conducted on an arm’s length basis.

Mukka Proteins holds a 68% stake in United Gulf Fishery Products LLC. The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

Key Details of the Loan Agreement

The filing was signed by Mehaboobsab Mahmadgous Chalyal, Company Secretary & Compliance Officer of Mukka Proteins Limited.