Mukka Proteins Limited has informed the Exchange about Acquisition
MUKKA · price
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Mukka Proteins Limited has received Board approval to incorporate a new overseas entity named Lanka Bio Proteins Private Limited in Sri Lanka. The company plans to invest Rs. 2.5 crore (approximately 9.75 million Sri Lankan Rupees) in cash, acquiring a 49% stake in the new entity. The proposed capital of the new company is Rs. 3.6 crore. This investment aims to expand Mukka Proteins' international business operations and strengthen its presence in the marine products sector. The transaction is not a related party transaction and is subject to RBI reporting under Foreign Exchange Management (Overseas Investment) Regulations, 2022, with an expected completion date of 31 December 2026.
This acquisition represents a strategic expansion into international markets through a minority stake in a new venture. While it diversifies the company's geographic presence, holding only 49% means it is not taking majority control. The modest investment amount suggests a measured approach to overseas expansion in the marine products industry.