Mukka Proteins seeks approval for ₹47 crore warrant issue
Mukka Proteins Limited has sought shareholder approval for the preferential allotment of 2 crore warrants at ₹23.50 each to raise ₹47 crore. The warrants, convertible into equity shares within 18 months, require 25% upfront payment. The postal ballot process is conducted exclusively through remote e-voting from June 13 to July 12, 2026, with scrutinizers appointed to oversee the process.
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Mukka Proteins Limited has submitted an application to BSE Limited and National Stock Exchange of India Limited seeking in-principle approval for the preferential allotment of 2,00,00,000 (Two Crore) fully convertible warrants. The warrants are priced at ₹23.50 each, comprising a face value of ₹1 and a premium of ₹22.50, aggregating up to ₹47,00,00,000. The proposed issue is subject to shareholder approval via a postal ballot and other regulatory clearances. The proceeds are intended to meet working capital requirements, fund business expansion, and for general corporate purposes.
The Board of Directors approved the proposal on June 12, 2026. 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. 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.
E-Voting Schedule and Process
Shareholders can vote through the CDSL e-voting system 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.
| Event | Date |
|---|---|
| Cut-off date for E-voting | June 10, 2026 |
| Commencement of Remote e-voting | Saturday, June 13, 2026 (9.00 a.m. IST) |
| End of Remote e-voting | Sunday, July 12, 2026 (5.00 p.m. IST) |
Proposed Allottees
The warrants are proposed to be allotted to 15 identified individuals and entities in the non-promoter category. The table below details the maximum number of warrants proposed for each allottee.
| Name of Proposed Allottees | Category | Maximum Number of Convertible Warrants |
|---|---|---|
| Mr. Irfan Chapra | Non-Promoter | 21,75,000 |
| Ms. Reshma Chapra | Non-Promoter | 21,75,000 |
| Mr. Vishal Maniar | Non-Promoter | 25,00,000 |
| Ms. Payal Maniar | Non-Promoter | 12,00,000 |
| Mr. Jasbir Singh Batra | Non-Promoter | 5,00,000 |
| Mr. Ranjit Singh Batra | Non-Promoter | 5,00,000 |
| Mr. Gurminder Kaur | Non-Promoter | 4,00,000 |
| Jasbir Singh And Sons HUF | Non-Promoter | 4,00,000 |
| Mr. Sarabdeep Kaur Darshan Singh | Non-Promoter | 4,00,000 |
| Ranjit Singh and Sons HUF | Non-Promoter | 4,00,000 |
| Multiplex Capital Limited | Non-Promoter | 3,50,000 |
| Mr. Hiren Hiralal Shiyal | Non-Promoter | 22,50,000 |
| Mr. B A Abdul Nasir | Non-Promoter | 22,50,000 |
| Mr. Soofikhan Kalander Asif | Non-Promoter | 22,50,000 |
| Mr. B H Rizwan | Non-Promoter | 22,50,000 |
Historical Stock Returns for Mukka Proteins
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.07% | -3.31% | +6.16% | +1.54% | -22.86% | -45.37% |
How will the dilution of equity impact existing shareholders once the warrants are converted into shares?
What specific business expansion initiatives are planned with the proceeds from this preferential allotment?
Will the company need to raise additional capital if the warrants are not exercised within the 18-month period?
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