Mukka Proteins Limited to Raise Rs 47 Crore through Preferential Issue of Convertible Warrants
Mukka Proteins Limited has approved the issue and allotment of up to 2,00,00,000 Convertible Warrants on a preferential basis. This move is intended to augment the company’s long-term financial resources for working capital requirements and business expansion initiatives.The warrants have been issued at an issue price of Rs. 23.50/- per warrant, aggregating up to Rs. 47,00,00,000/. The issuance is targeted exclusively toward non-promoter entities.
Mukka Proteins Limited confirmed that the proposed issue does not result in a change in control and that all allotment proceeds will be utilized for the aforementioned corporate purposes.
Transaction Details and Compliance
The warrants carry a right exercisable by the warrant holder to subscribe to one fully paid-up equity share of the company, each having a face value of Rs. 1/-, at a premium of Rs. 22.50/- per share. Warrant holders will have a period of 18 months from the allotment date to exercise their warrants into shares.The issue price was determined based on compliance with applicable regulations and was confirmed by an Independent Registered Valuer, Ms. Kavita Joshi (IBBI Registration No. IBBI/RV/06/2025/15868). The company’s equity shares are listed on the Main Board of BSE Limited and National Stock Exchange of India Limited (NSE), and the pre-issue paid-up capital exceeds Rs. 25 crore.
The transaction involves a structured allocation across several non-promoter entities, with strict adherence to lock-in requirements for any pre-preferential shareholding held by the allottees.
| Parameter | Details |
|---|---|
| Total Warrants Offered | 2,00,00,000 |
| Issue Price per Warrant | Rs. 23.50/- |
| Aggregate Issue Size | Rs. 47,00,00,000/- |
| Warrant Conversion Rate | 1 Equity Share per Warrant |
| Conversion Premium | Rs. 22.50/- |
| Allotment Period | Within 18 months of allotment date |
Allottees and Investment Structure
The warrants are being offered to various non-promoter entities. The allocation details show that specific allottees hold pre-preferential shareholding, which is subject to a lock-in period until November 25, 2026, as per the relevant provisions of the issue.A summary of the allotments and post-issue holdings includes:
| Allottee Name | Pre-Preferential Holding (Shares) | Post-Preferential Holding (Shares) | % of Holding (Post-Issue) |
|---|---|---|---|
| Mr. B H Rizwan | 254,055 | 25,04,055 | 0.78% |
| Mr. Hiren Hiralal Shiyal | 24,000 | 22,74,000 | 0.71% |
| Ranjit Singh and Sons HUF | 500 | 4,00,500 | 0.13% |
| Mr. Irfan Chapra | Nil | 21,75,000 | 0.68% |
| Ms. Reshma Chapra | Nil | 21,75,000 | 0.68% |
| Mr. Vishal Maniar | Nil | 25,00,000 | 0.78% |
The company confirmed that no promoter or director intended to subscribe to the warrants offered in this preferential issue.
MUKKA Stock Price Movement
On Friday, Mukka Proteins Limited's stock rallied strongly, settling at ₹22.81 after gaining 8.74% from the previous close. The equity traded a volume of 1.02 million shares and saw its intraday price peak at ₹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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