Mukka Proteins Limited has informed the Exchange about execution of Share Purchase Agreement.
MUKKA · price
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Mukka Proteins has signed a Share Purchase Agreement with Holocene Ecosolutions Private Limited to acquire the remaining 25.99% equity share capital of Ento Proteins Private Limited, in which it already holds 74.01%. After this acquisition, Ento Proteins will become a wholly-owned subsidiary of Mukka Proteins. The total consideration is INR 32,30,000 (about Rs. 32.30 lakhs) for 1,000 equity shares of Rs. 100 face value each. The existing Shareholders' Agreement dated 7th September 2021 between the parties will stand rescinded and terminated upon closing. The company clarified that the transaction does not fall under related party transactions, though the promoters of Mukka Proteins also serve as directors of Ento Proteins.
The deal strengthens Mukka Proteins' control over Ento Proteins by making it a wholly-owned subsidiary, but the financial outlay is very small (Rs. 32.30 lakhs) and unlikely to materially affect the stock price. The key takeaway is simplified corporate structure and full operational control rather than significant capital deployment.