Mukka Proteins Invests ₹13.19 Cr in Shipwaves Online
Mukka Proteins Ltd announced its Board of Directors has approved a strategic investment in Shipwaves Online Limited (SOL). The company will acquire equity shares in SOL for an amount not exceeding ₹13.19 crore in one or more tranches. This investment is intended to leverage potential business synergies in logistics and related businesses, supporting Mukka Proteins' long-term growth. Shipwaves Online operates in Digital Freight Forwarding and Enterprise SaaS Solutions. The transaction is considered a related party transaction, conducted at arm's length, with an indicative completion timeline of March 31, 2027. Mukka Proteins will acquire 2,93,20,000 equity shares at ₹4.50 per share, resulting in a post-acquisition shareholding of 16.77%.
Key Highlights
- Mukka Proteins to invest up to ₹13.19 crore in Shipwaves Online.
- Strategic investment aims to leverage logistics and SaaS business synergies.
- Acquisition of 16.77% stake in Shipwaves Online.
- Transaction is a related party deal, conducted at arm's length.
- Indicative completion date for the acquisition is March 31, 2027.
Price Impact
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