Mukka Proteins IPO Review

 
Mukka Proteins IPO Review

IPO Open Date: February 29, 2024

IPO Close Date: March 4, 2024

IPO Price: ₹26 to ₹28 per share

Lot Size: 535 Shares

Listing: March 7, 2024

Mukka Proteins is scheduled to hit the market on February 29, 2024 and close on  March 4, 2024. Mukka Proteins plans to raise around ₹224.00 Cr through an IPO with a sale of up to 80,000,000 equity shares of ₹1 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.

Mukka Proteins Limited, established in March 2003, specializes in the production of fish protein products such as fish meal, fish oil, and fish soluble paste. These products play a crucial role in the formulation of aqua feed for fish and shrimp, poultry feed for broilers and layers, and pet food for dogs and cats. The company's reach extends to more than 10 countries, with exports to Bahrain, Bangladesh, Chile, Indonesia, Malaysia, Myanmar, Philippines, China, Saudi Arabia, South Korea, Oman, Taiwan, and Vietnam.

With a workforce of 385 individuals across various departments including technical, support, administration, management, and operations as of March 31, 2023, Mukka Proteins Limited operates six production facilities. Four of these facilities are situated in India, while the remaining two are in Oman under its subsidiary Ocean Aquatic Proteins LLC. Moreover, the company manages three blending plants and five storage facilities in India, strategically located near the coast. Certified under ISO 22000:2018 and ISO 9001:2015 management system standards by NQA and UKAS, the company also has contractual agreements with third-party manufacturing units in Sasihithlu and Udupi (Karnataka), as well as Taloja and Ratnagiri (Maharashtra) for the supply of fishmeal and fish oil as of December 31, 2022.

Mukka Proteins IPO Review


Mukka Proteins IPO Details

Mukka Proteins IPO opens on Feb 29, 2024, and closes on Mar 04, 2024. The Listing date for Mukka Proteins IPO is on Mar 7, 2024. The price band for IPO is ₹26 to ₹28 per share and lot size of 535 Shares.

IPO DateFeb 29, 2024 to Mar 04, 2024
Listing DateMar 07, 2024
Price₹26 to ₹28 per share
Lot Size535 Shares
Issue Size₹224.00 Cr
Face Value₹1 per share

Mukka Proteins IPO Tentative Timetable

Mukka Proteins opening date is February 29, 2024 and close date is March 4, 2024. The IPO allotment date is March 5, 2024. The refund initiation of IPO is on March 06, 2024. The credit of shares in demat account is on March 06, 2024. The listing date is on March 07, 2024.

EventDate
IPO OpeningFeb 29, 2024
IPO ClosingMar 04, 2024
IPO Allotment DateMar 05, 2024
Refund InitiationMar 06, 2024
Shares Credit to DematMar 06, 2024
Lisiting DateMar 07, 2024

Mukka Proteins IPO Lot Size

Lot Size of this IPO is 535 shares. A retail-individual investor can apply for up to 13 lots (6955 shares or ₹194,740).

CategoryLotsSharesAmount
Retail(Minimum)1535₹14,980
Retail(Maximum)136955₹194,740
S-HNI (Minimum)147,490₹209,720
B-HNI (Minimum)6735,845₹1,003,660

Mukka Proteins IPO Promoter Holding

Pre Issue Share Holding100.00%
Post Issue Share Holding%

Mukka Proteins IPO Review

Mukka Proteins Limited's IPO presents a compelling opportunity for investors looking to capitalize on a company that has exhibited strong growth and financial performance. With a market capitalization of Rs 840 Cr, the company's revenue surged by 52.52% and profit after tax rose by 84.07% between March 2022 and March 2023. Key performance indicators like Return on Equity (ROE) at 36.71% and Return on Net Worth (RoNW) at 34.19% showcase the company's efficient management of resources and profitability. Additionally, the company's objectives for utilizing the net proceeds from the IPO towards working capital requirements, investments in associates, and general corporate purposes indicate a clear strategic vision for growth.

Investors analyzing Mukka Proteins Limited IPO should take note of the company's strong financial metrics and market position. With a post-issue EPS of Rs 2.2 and a competitive P/E ratio of 12.73, the company offers an attractive valuation relative to its earnings potential. The focus on funding working capital needs and strategic investments in associates like Ento Proteins Private Limited underscores the company's commitment to sustainable growth and expansion in the protein industry. Overall, Mukka Proteins Limited IPO presents a promising investment opportunity for those seeking exposure to a company with a solid track record and promising future prospects.

In conclusion, Mukka Proteins Limited IPO review highlights the company's impressive financial performance and strategic objectives. The substantial increase in revenue and profit after tax, coupled with key performance indicators like ROE and RoNW, positions the company as a strong player in the market. The clear utilization of IPO proceeds towards enhancing working capital, investing in associates, and general corporate purposes signifies a well-defined growth strategy. Investors looking for a lucrative entry into the protein industry may find Mukka Proteins Limited IPO worth considering due to its strong fundamentals and growth potential in the market.

Mukka Proteins IPO Subscription Status (Bidding Details)

Table not found

Mukka Proteins IPO Broker Recommendations

  • Capital Market: To be updated soon
  • Anand Rathi: To be updated soon
  • SMC Global: To be updated soon
  • Arihant Capital: To be updated soon

Mukka Proteins IPO FAQs

What is Mukka Proteins IPO?

Mukka Proteins is issuing 80,000,000 equity shares with a face value of ₹1 each, totaling up to ₹224.00 Cr. The shares are being offered at a price of ₹26 to ₹28 each, with a minimum order quantity of 535 shares.

Cameo Corporate Services Limited is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.

When Mukka Proteins IPO will open?

Mukka Proteins will open on February 29, 2024 for QIB, NII, and Retail Investors.

When Mukka Proteins IPO will end?

Mukka Proteins will end on March 04, 2024.

What is Mukka Proteins IPO Size?

Mukka Proteins IPO size is 224.00 Cr.

What is Mukka Proteins IPO Price Band?

Mukka Proteins price band is 26 to ₹28 per share.

What is the Mukka Proteins IPO Allotment Date?

Mukka Proteins allotment date is March 05, 2024.

What is the Mukka Proteins IPO Listing Date?

Mukka Proteins listing date is March 07, 2024. The IPO is to be listed on BSE and NSE.

How to Mukka Proteins IPO through Zerodha?

To apply for the IPO “Mukka Proteins” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.

How to Apply Mukka Proteins IPO through Upstox?

To apply for the IPO “Mukka Proteins” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.

How to check Mukka Proteins IPO Allotment Status?

For Mukka Proteins IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.

What is Mukka Proteins IPO GMP?

You can check out here: Mukka Proteins IPO GMP

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