Mukka Proteins Limited has announced the successful completion of its acquisition of Ocean Proteins Private Limited, making the latter a subsidiary effective December 30, 2025. The transaction was completed through the acquisition of equity shares for a total consideration of ₹10.45 crores.

Acquisition Details

The company acquired 1,04,500 equity shares of Ocean Proteins Private Limited at face value of ₹100.00 per share, representing a 51% shareholding in the target entity. The acquisition was completed through cash consideration, with the share transfer finalized on December 30, 2025.

Target Company Profile

Ocean Proteins Private Limited operates as a manufacturer and exporter of frozen fish, shrimp and surimi. The company has established operations with significant financial metrics for FY 2024-25.

Strategic Rationale

The acquisition forms part of Mukka Proteins Limited's strategic investment plans to expand its frozen fish business operations. Ocean Proteins Private Limited was previously a related party of the company under the provisions of the Companies Act, 2013, being an associate company. The investment was executed on an arm's length basis, with promoters having interest in Ocean Proteins Private Limited to the extent of their directorship.

Regulatory Compliance

The acquisition was announced under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The transaction did not require any governmental or regulatory approvals. This development follows previous communications dated May 15, 2025, and August 13, 2025, regarding the company's intention to make further acquisitions of equity shares in Ocean Proteins Private Limited.

Mukka Proteins Limited has received a significant Bond Enforcement Order from the Commissioner of Customs, Mangaluru, demanding recovery of customs duty amounting to ₹7.67 crores along with applicable interest. The company disclosed this development to stock exchanges on December 30, 2025, under Regulation 30 of SEBI listing requirements.

Details of the Customs Order

The Bond Enforcement Order No. 26/2025-26, received by the company on December 29, 2025, pertains to advance licences issued by the Directorate General of Foreign Trade (DGFT) under which duty-free imports were made. The order has been issued by the Assistant Commissioner of Customs at the Office of the Commissioner of Customs, New Customs House, Panambur, Mangaluru.

Allegations and Financial Impact

The customs authorities have alleged non-submission of evidence towards fulfilment of export obligations and non-furnishing of Export Obligation Discharge Certificate (EODC) within the prescribed timelines. Based on these allegations, customs has enforced the bonds executed by the company and ordered recovery of the customs duty.

Company's Response

Mukka Proteins Limited has stated that it is currently examining the order and evaluating appropriate steps to address the matter. The company indicated it is considering submission of relevant documents and exploring remedies available under law. The disclosure was signed by Company Secretary and Compliance Officer Mehaboobsab Mahmadgous Chalyal.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, by informing both NSE and BSE about this development. The detailed disclosure was provided in accordance with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

According to the company's assessment, except for the customs duty amount and applicable interest mentioned in the order, there is no other expected impact on the financials or operations of the company.