Mukka Proteins seeks Rs47 crore via 2 crore warrants

What the company has filed with stock exchanges

Mukka Proteins Limited has moved a fresh step in its capital-raising plans by approaching the stock exchanges for an in-principle clearance. In a letter dated June 12, 2026, the company said it has submitted an application to BSE Limited and the National Stock Exchange of India Limited under Regulation 28(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The application relates to a proposed issue and allotment of convertible warrants on a preferential basis.

The filing is significant because in-principle approval is a standard requirement for preferential issuances by listed companies. It signals that the issuer has initiated the compliance process with the exchanges before the securities are created and allotted. The company’s communication indicates the proposal involves a sizeable number of instruments, and it sets out the key commercial terms including price and aggregate amount.

Key terms of the proposed convertible warrants

As per the June 12, 2026 communication, Mukka Proteins has proposed to issue and allot up to 2,00,00,000 (two crore) convertible warrants. The issue price mentioned is Rs 23.50 per warrant. Based on those terms, the aggregate size of the issuance is Rs 47 crore.

The warrants carry a right for warrant holders to apply for and be allotted equity shares. The company stated that each warrant provides an entitlement to one fully paid-up equity share of the company of face value Re 1 each. The filing also specifies that the equity share, upon conversion, would be at a premium of Rs 22.50 per share for each warrant.

The company noted that the warrants may be exercised in one or more tranches. The conversion window mentioned in the document is within 18 months from the date of allotment of the warrants.

Preferential basis and category of allottees

The proposed warrants issuance is planned as a preferential issue. In the filing excerpt, Mukka Proteins described the proposed warrant holders as persons or entities belonging to the non-promoter category. The preferential nature of the deal means the securities are intended to be allotted to identified investors rather than offered broadly to the public.

Preferential issues typically require shareholder approval and must adhere to pricing and disclosure conditions under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as applicable. The company’s exchange filing places the proposal within the listed-company framework of approvals and compliance checks.

Postal ballot route and remote e-voting plan

Separately, the company has also circulated a Postal Ballot Notice framework for shareholder approvals, with voting to be conducted electronically. In its Postal Ballot Notice text, Mukka Proteins referenced Sections 108 and 110 of the Companies Act, 2013 and the related rules for conducting voting.

The notice describes the business item as “issuance of warrants convertible into equity shares of the Company on preferential basis.” The company also stated that shareholders are requested to cast their votes through the remote e-voting process not later than 5.00 pm (IST) on Sunday, 12th July 2026. It added that if votes are not cast by the deadline, it will be considered that no vote has been received from the concerned shareholder.

For access to the notice, the company stated that members who have not registered their e-mail IDs can view the Postal Ballot Notice on the company website at https://www.mukkaproteins.com/. It also provided an option to request a PDF copy by writing to cs@mukkaproteins.com.

Earlier fundraise: preferential equity issue of Rs98 crore

Mukka Proteins’ filings and reported updates also include an earlier preferential allotment plan. In October 2024, the company disclosed approval of a preferential issue aggregating Rs 98 crore. The structure described was up to 1.96 crore equity shares at Rs 50 per share. The price included a premium of Rs 49 per share on a face value of Rs 1.

The company also communicated that promoters committed to a capital infusion of Rs 60 crore through a preferential allotment of equity shares. This earlier issuance was stated to be subject to necessary statutory and regulatory approvals, including shareholder approval at an Extra-Ordinary General Meeting (EGM) scheduled for November 16, 2024.

Authorised share capital increase approved by the board

In the same October 2024 disclosures, Mukka Proteins said it increased its authorised share capital to Rs 40 crore from Rs 30 crore earlier, subject to shareholder approval. The company told stock exchanges that the resolution for the authorised capital hike would be placed before shareholders at the EGM.

Authorised share capital is the ceiling up to which a company can issue shares under its charter documents. Companies typically seek such increases when they plan issuances that could otherwise exceed the existing authorised limit.

Summary table of the disclosed proposals

Why these approvals matter for shareholders

For shareholders, the immediate focus is the voting and approval process because preferential instruments can change the company’s capital structure. Convertible warrants, in particular, can lead to equity issuance over time, depending on whether warrant holders convert within the permitted period. The company’s disclosure that conversion can occur in tranches and within 18 months provides clarity on the outer time limit described in the filing.

The Postal Ballot approach, conducted through remote e-voting, is also central to how retail and institutional shareholders participate. Mukka Proteins has set a clear deadline of 5.00 pm IST on July 12, 2026 for voting, and has pointed shareholders to its website and company e-mail for accessing the notice.

What to watch next

The next procedural milestones indicated in the documents are tied to regulatory and shareholder approvals. Mukka Proteins has already sought in-principle approval from BSE and NSE for the proposed warrants. In parallel, the company has placed the preferential warrants proposal for shareholder consideration through postal ballot and remote e-voting, with the voting window ending on July 12, 2026.

Any further steps would depend on completion of these approvals and the company’s subsequent actions on allotment and conversion terms as outlined in the filings.