Mukka Proteins has received approval from board of directors for further acquisition of 1,04,500 equity shares of face value of Rs 100 each at face value, of Ocean Proteins (OPPL), an Associate Company, by way of acquisition from the existing shareholders for a total consideration of Rs 1.04 crore. Upon the proposed investment by the Company, OPPL would become a subsidiary of Company. Consequent upon the aforesaid investment, the shareholding of the Company in OPPL increased to 51% from 40%.
Mukka Proteins is one of the key players of the fish protein industry. The company manufactures fish oil which is used in the production of soap, leather tanneries, and the paint industry.
