Mukka Proteins Limited has received in-principle approval from both National Stock Exchange of India Limited (NSE) and BSE Limited for the proposed issue and allotment of convertible warrants to persons belonging to the Non-Promoter Category on a preferential basis.

Nature of the Event

The disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding the receipt of in-principle approvals from stock exchanges for a preferential issue of convertible warrants.

Key Quantitative Figures

The company proposes to issue 2,00,00,000 (two crore) Convertible Warrants of Re. 1/- each at an issue price of Rs. 23.50/- each to Non-Promoters on a preferential basis. Each warrant is convertible into one equity share of Re. 1/- each.

Dates of Approval

Both NSE and BSE granted their in-principle approvals on August 28, 2026:

  • NSE Reference: NSE/LIST/55764
  • BSE Reference: LOD/PREF/DA/FIP/721/2026-27

Parties Involved

  • National Stock Exchange of India Limited (NSE)
  • BSE Limited
  • Non-Promoter Category allottees (unspecified)
  • Company Secretary: Mehaboobsab Mahmadgous Chalyal (Membership No.: A67502)

Conditions and Requirements

The approvals are subject to several conditions:

1. The company must file listing application promptly after allotment

2. Must obtain all statutory and regulatory approvals including from SEBI, RBI, MCA

3. Must comply with all applicable guidelines, regulations, and directions

4. Must pay applicable fees and submit required documents

5. Must strengthen internal controls to monitor trades by proposed allottees

6. Must obtain undertakings from allottees confirming they will not do intra-day trading or any sale in the company scrip until the allotment date

7. The responsibility for verification and compliance rests solely with the issuer company

8. Listing application must be made within twenty days from date of allotment as per SEBI circular dated June 21, 2023

Financial Impact

The potential fund raising amounts to ₹47 crore (2,00,00,000 warrants × ₹23.50 per warrant) upon full conversion. The actual monetary impact will occur upon receipt of funds from allottees.

Additional Information

The approval does not constitute approval under any other Act/Regulation/rule/byelaws. The exchanges reserve the right to withdraw approval if information submitted is found incomplete/incorrect/misleading/false or in contravention of any regulations.