Mukka Proteins Limited has informed the Exchange about Acquisition
MUKKA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Mukka Proteins' Board has approved acquiring an additional 2,000 equity shares (2% stake) of its subsidiary Haris Marine Products Private Limited (HMPPL) from existing shareholders for a cash consideration of Rs. 19.64 lakhs. Post this acquisition, HMPPL will become a wholly owned subsidiary of Mukka Proteins, up from the current 98% holding. HMPPL is in the same core business — manufacturing and exporting fish meal and fish oil. The target had nil turnover in FY24 and FY25 but reported a profit after tax of Rs. 2.24 crores in FY25. The deal is expected to be completed by June 30, 2026, and is being done at arm's length as HMPPL is a related party.
The deal value is very small (under Rs. 20 lakhs) and is primarily a corporate housekeeping step to convert a 98% subsidiary into a 100% wholly owned subsidiary, giving Mukka Proteins full control over HMPPL's operations and financials. Minimal impact expected on the stock price; it streamlines the group structure and consolidates 100% of subsidiary profits.