Mukka Proteins Limited Acquires Remaining Stake in Haris Marine Products Private Limited
Mukka Proteins Limited announced on March 25, 2026, that it has entered into a Share Purchase Agreement with Mr. Kalandan Mohammed Haris, Mr. Kalandan Mohammed Althaf, Mr. Kalandan Mohammad Arif and Mr. Kalandan Abdul Razak, shareholders of Haris Marine Products Private Limited, to acquire the remaining 2% equity share capital of the investee company.The company will acquire 2,000 equity shares with a face value of INR 100 each for a total consideration of INR 19,64,000. Mukka Proteins Limited currently holds a 98% stake in Haris Marine Products Private Limited.
The promoters of Mukka Proteins Limited are also shareholders and directors of the investee company, and the transaction qualifies as a related party transaction conducted at arm's length.
Here's a summary of the agreement details:
| S. No. | Particulars | Details |
|---|---|---|
| 1 | Name(s) of parties with whom the agreement is entered | Mr. Kalandan Mohammed Haris, Mr. Kalandan Mohammed Althaf, Mr. Kalandan Mohammad Arif and Mr. Kalandan Abdul Razak, Shareholders of Investee Company and Haris Marine Products Private Limited, Subsidiary Company |
| 2 | Purpose of entering into the agreement | Acquisition of remaining 2% equity share capital of the Investee Company. |
| 3 | Shareholding, if any, in the entity with whom the agreement is executed | Present holding in the Investee Company - 98% |
| 4 | Significant terms of the agreement (in brief) special rights like right to appoint directors, first right to share subscription in case of issuance of shares, right to restrict any change in capital structure etc.; | The Company to acquire remaining 2% equity share capital of the Investee Company for a total consideration of INR 19,64,000 (Rupees Nineteen Lakhs Sixty-Four Thousand only) from the existing shareholders. |
| 5 | Whether the said parties are related to promoter/ promoter group/ group companies in any manner. If yes, nature of relationship | The Promoters of the Company are also Shareholders &Directors of the Investee Company. |
| 6 | Whether the transaction would fall within related party transactions? If yes, whether the same is done at 'arm's length' | Yes |
| 7 | In case of issuance of shares to the parties, details of issue price, class of shares issued | Acquisition of 2,000 equity shares of face value of Rs.100/- each for a total consideration of Rs. 19,64,000. |
| 8 | Any other disclosures related to such agreements, viz., details of nominee on the board of directors of the listed entity, potential conflict of interest arising out of such agreements, etc | Nil |
| 9 | In case of termination or amendment of agreement, listed entity shall disclose additional details to the stock exchange (s): i. Name of parties to the agreement ii. Nature of agreement iii. Date of execution of agreement iv. Details of amendment and impact thereof or reasons of termination and impact thereof | Not Applicable. |
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