Mukka Proteins Limited has initiated a postal ballot process to seek shareholder approval for the issuance of 2,00,00,000 (Two Crore) fully convertible warrants on a preferential basis, aggregating up to ₹47,00,00,000. The warrants are priced at ₹23.50 each, comprising a face value of ₹1 and a premium of ₹22.50, and will be issued to 15 identified allottees in the non-promoter category. The proceeds are earmarked for meeting working capital requirements, funding business expansion, and general corporate purposes. The Board of Directors approved the proposal on June 12, 2026, to strengthen the capital base.

The issue price is supported by a valuation report from Ms. Kavita Joshi, a Registered Valuer, and is not lower than the minimum price determined under SEBI ICDR Regulations. Each warrant is convertible into one equity share within 18 months from the date of allotment, subject to regulatory approvals. The subscription requires an upfront payment of 25%, with the remaining 75% payable upon exercise. Warrants not exercised within 18 months will lapse, and the amount paid will be forfeited.

Strategic Investments Approved

The Board also approved investments in two partnership firms to expand the company's core business. It sanctioned an investment of up to ₹11,10,00,000 in Delta Marine Products and up to ₹15,00,00,000 in Aqua Marine, both by way of capital contribution. These investments aim to enhance capacity expansion and optimize operational processes. The indicative time period for completion of these acquisitions is September 30, 2026.

Proposed Allottees

The warrants are proposed to be allotted to specific individuals and entities in the non-promoter category. The table below details the maximum number of warrants proposed for each allottee.

E-Voting Schedule and Process

Shareholders can vote through the CDSL or NSDL e-voting systems during the designated period. Physical copies of the postal ballot notice will not be dispatched. The company has appointed Mr. Chethan Nayak K and Mrs. Ujala Rani of Chethan Nayak & Associates as scrutinizers for the process.

Mukka Proteins Limited has approved a strategic investment of up to ₹15,00,00,000 to acquire a 51% stake in Aqua Marine, a partnership firm engaged in the manufacturing of fish meals and fish oil. The board approved the proposal at its meeting held on June 12, 2026. The investment will be made through capital contribution in one or more tranches, with an indicative completion timeline of September 30, 2026.

The acquisition is not a related party transaction and does not require any specific governmental or regulatory approvals. Aqua Marine reported a turnover of ₹32,15,07,660 and a profit after tax (PAT) of ₹1,067,656 for the financial year 2024-25. The entity was incorporated on April 1, 2022, and operates solely in India.

Investment Details

Target Entity Financials

The company stated that this investment is part of its strategic plans to expand its core business, focusing on capacity expansion and optimization of operational processes. This move is expected to lead to improved production efficiency and a broader market reach.