Mukka Proteins Reinforces Market Position with ₹98 Crore Capital Infusion

Mukka Proteins Limited approved a ₹98 crore preferential issue to support its acquisition and expansion plans. The capital, majorly funded by promoters, aims to boost production and meet the growing demand for sustainable protein. The company's innovative waste-to-food practices showcase a strong commitment to environmental sustainability.

Mumbai, October 22, 2024: Mukka Proteins Limited, a key player in India's animal protein industry, has secured board approval for a ₹98 crore preferential issue to advance its domestic and international growth strategy. This injection of capital underscores Mukka Proteins' commitment to strengthening its market position globally.

The issue includes up to 1.96 crore equity shares priced at ₹50 each, signaling significant promoter backing. The raised funds are targeted at enhancing production capabilities to meet increasing global demands for sustainable protein solutions, particularly in the fishmeal and insect meal sectors.

Mukka Proteins' strategic initiatives focus on sustainability and environmental stewardship, notably through waste management partnerships with the Mangaluru municipality. As a front-runner in the aquaculture market, Mukka is set to expand its operations, leveraging the preferential issue to diversify its product offerings and uphold its eco-friendly business ethos.

(With inputs from agencies.)