Mukka Proteins IPO: Check Dates, Status, and More; Subscriptions Open Today; GMP Hints Premium Listing

The IPO for Mukka Proteins, which aims to raise Rs 224 crore, is already accepting subscriptions as of today, February 29. The business had already created a stir on February 28, the day before the subscription window officially started, when it secured Rs 67.20 crore from anchor investors. All the information you want about this exciting initial public offering (IPO) creating waves in the financial sector is provided here.

Investors may register for the Mukka Proteins initial public offering (IPO) between now and Monday, March 4. During the February 28 anchor investor round, the business raised Rs 67.20 crore by allocating 2,39,99,565 equity shares.

The pricing range for the Mukka Proteins IPO is Rs 26 to Rs 28 for each equity share, with a face value of Re 1. Investors may place bids in multiples of 535 equity shares following the initial public offering (IPO) lot size of 535 equity shares. The goal of this structure is to allow a wide range of investors to participate in the IPO.

In the Mukka Proteins IPO, shares have been set aside for certain investor groups. Interestingly, 15% of the shares must go to non-institutional investors (NII), up to 50% to qualified institutional Buyers (QIB), and at least 35% to regular investors. The goal of this allocation method is to satisfy the needs of retail and institutional investors.

Fish meal, fish oil, and fish soluble paste are all produced and sold by Mukka Proteins Ltd. and are vital ingredients in pet food, poultry feed, and aqua feed. The firm is a major contributor to the production of fish, shrimp, poultry, dog, and cat feed, with an emphasis on sustainability.

The firm is actively contributed to by its three promoter directors, Kalandan Mohammed Haris, Kalandan Mohammed Arif, and Kalandan Mohammed Althaf, who take a hands-on approach to running the company.

Mukka Proteins maintains its position when compared to its publicly traded competitors, which include Avanti Feeds Ltd, Godrej Agrovet Ltd, Zeal Aqua Ltd, and Waterbase Ltd. Mukka Proteins reported a significant 52.52% gain in sales and an 84.07% improvement in Profit After Tax (PAT) as of the latest fiscal year that ended on March 31, 2023.

With a face value of Re 1, the total 8,00,00,000 equity shares that are being issued in this current offering make up the Rs 224 crores IPO. The red herring prospectus (RHP) details the uses of the net proceeds from the first public offering (IPO). These include supporting working capital needs, investing in Ento Proteins Private Limited, financing general corporate objectives, and expanding the firm as a whole.

The Mukka Proteins IPO will be registred by Cameo Corporate Services Limited, with Fedex Securities Pvt Ltd serving as the book running lead manager and ensuring the IPO proceeds smoothly.

The Mukka Proteins IPO’s Grey Market Premium (GMP) is now +15, meaning there is a premium of Rs 15 on the grey market. This implies that investors are feeling optimistic and are prepared to pay more than the issue price.

The GMP has been rising over the previous 24 sessions, with the lowest being Rs 0 and the highest being Rs 17, according to the most recent statistics. This encouraging trend in the gray market suggests that the listing will be successful.

With the Mukka Proteins IPO moving into the subscription phase, all eyes are on the possibility for a strong listing and the reaction of the market. Mukka Proteins, with its emphasis on sustainability, strong financials, and well-defined capital use strategy, is well-positioned to launch its shares on markets.