Mukka Proteins Files Application for In-Principle Approval for Preferential Issue of Convertible Warrants
Mukka Proteins Limited has submitted an application seeking in-principle approval from the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) regarding a proposed preferential issue of convertible warrants. The company is issuing up to 2,00,00,000 (Two Crore) Convertible Warrants at an issue price of Rs. 23.50/- per Warrant, aggregating up to Rs. 47,00,00,000/-.The preferential issuance is subject to receiving necessary approvals, including In-Principle Approval from the Stock Exchanges, and approval from the company's shareholders and other applicable regulatory bodies.
Details of Proposed Preferential Issue
Mukka Proteins Limited approved the preferential issue during its Board Meeting held on June 12, 2026. The proposed Warrants are convertible into Equity Shares at a face value of Rs. 1/- each at a premium of Rs. 22.50/ per share within a period of 18 months from the date of allotment.The details of the proposed issue and allottees are summarized in the tables below:
| Category | Pre Preferential Issue (Shares) | Post Preferential Issue (Shares) |
|---|---|---|
| Promoter & Promoter Group (A) | 22,00,00,000 (73.33%) | 22,00,00,000 (68.75%) |
| Public (B) | 8,00,00,000 (26.67%) | 10,00,00,000 (31.25%) |
| Total | 30,00,00,000 (100%) | 32,00,00,000 (100%) |
Details of Convertible Warrants Allotment
The Warrants are offered to persons/entities belonging to the Non-Promoter Category on a preferential basis. The maximum number of convertible warrants proposed is 2,00,00,000 across 15 specified non-promoter allottees.| S. No. | Name of Proposed Allottees | Maximum Warrants Proposed to be Allotted |
|---|---|---|
| 1. | Mr. Irfan Chapra | 2,175,000 |
| 2. | Ms. Reshma Chapra | 2,175,000 |
| 3. | Mr. Vishal Maniar | 2,500,000 |
| 4. | Ms. Payal Maniar | 1,200,000 |
| 5. | Mr. Jasbir Singh Batra | 500,000 |
| 6. | Mr. Ranjit Singh Batra | 500,000 |
| 7. | Mr. Gurminder Kaur | 400,000 |
| 8. | Jasbir Singh And Sons HUF | 400,000 |
| 9. | Mr. Sarabdeep Kaur Darshan Singh | 400,000 |
| 10. | Ranjit Singh and Sons HUF | 400,000 |
| 11. | Multiplex Capital Limited | 350,000 |
| 12. | Mr. Hiren Hiralal Shiyal | 2,250,000 |
| 13. | Mr. B A Abdul Nasir | 2,250,000 |
| 14. | Mr. Soofikhan Kalander Asif | 2,250,000 |
| 15. | Mr. B H Rizwan | 2,250,000 |
Financial and Regulatory Compliance
The company has stated that the proceeds from the preferential issue will be used to meet working capital requirements, fund business expansion plans, support growth initiatives, and for other general corporate purposes.Regarding pricing:
- Floor Price: The floor price for the Warrants was determined at Rs. 23.17/- per Warrant, which is the higher of the 90 trading days' Volume Weighted Average Price (VWAP) and the 10 trading days' VWAP, as per Regulation 164 of SEBI (ICDR) Regulations.
- Issue Price: The Board approved an issue price of Rs. 23.50/- per Convertible Warrant, which is not lower than the determined floor price and complies with applicable pricing provisions.
The company has maintained compliance regarding these transactions:
- No Promoter or members of the Promoter Group intended to subscribe to the Warrants.
- The proposed issue does not exceed 5% of the post-issue fully diluted share capital, nor does it result in any change in control of the Company.
- The company confirmed that none of the proposed allottees had sold or transferred any Equity Shares during the 90 trading days preceding the Relevant Date (June 12, 2026).
Financial Transaction Details
Details concerning the processing fee and TDS remitted for the application are as follows:| Particulars | Amount |
|---|---|
| Processing Fee (including GST) | 3,54,000 |
| TDS, if any | 3,00,000 |
| Net amount remitted after TDS | 3,24,000 |
The remittance details provided include UTR NO. HDFCR52026061270236249, dated 12-06-2026, to HDFC Bank Limited.
MUKKA Stock Price Movement
Mukka Proteins Limited shares rallied strongly on Friday, settling at ₹22.81 after a robust gain of 8.74%. The stock demonstrated significant movement throughout the session, trading within an intraday range spanning from a low of ₹21.06 to a high of ₹23.20.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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