FINWIRES · TerminalLIVE
FINWIRES

Mukka Proteins Extends INR50 Million Loan to Subsidiary

-- Mukka Proteins (NSE:MUKKA) has entered into a loan agreement with a subsidiary company, United Gulf Fishery Products, to extend an inter-corporate loan of up to 50 million Indian rupees, according to a Tuesday filing to the Indian stock exchanges.

Shares of the company rose over 2% in Wednesday's trade.

The loan, intended to meet urgent business requirements, carries an interest rate of 8% per annum and has a tenure of five years from the date of disbursal, the filing said.

Mukka Proteins holds a 68% stake in the borrower, according to the filing.

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