Bookbuilding IPO | ₹224 Cr | Listed at BSE, NSE
Mukka Proteins IPO is a book build issue of ₹224.00 crores. The issue is entirely a fresh issue of 8.00 crore shares of ₹224.00 crore.
Mukka Proteins IPO bidding started from Feb 29, 2024 and ended on Mar 4, 2024. The allotment for Mukka Proteins IPO was finalized on Mar 5, 2024. The shares got listed on BSE, NSE on Mar 7, 2024.
Mukka Proteins IPO price band is set at ₹28 per share. The lot size for an application is 535. The minimum amount of investment required by an retail is ₹14,980 (535 shares) (based on upper price). The lot size investment for sNII is 14 lots (7,490 shares), amounting to ₹2,09,720, and for bNII, it is 67 lots (35,845 shares), amounting to ₹10,03,660.
Fedex Securities Pvt.Ltd. is the book running lead manager and Cameo Corporate Services Ltd. is the registrar of the issue.
Refer to Mukka Proteins IPO RHP for detailed Information.
IPO Open
Thu, Feb 29, 2024
IPO Close
Mon, Mar 4, 2024
Issue Price
₹28 per share
Market Cap (Pre-IPO)
₹840.00 Cr
| IPO Date | 29 Feb to 4 Mar, 2024 |
| Listed on | Thu, Mar 7, 2024 |
| Face Value | ₹1 per share |
| Price Band | ₹26 to ₹28 |
| Issue Price | ₹28 per share |
| Lot Size | 535 Shares |
| Sale Type | Fresh Capital |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 8,00,00,000 shares (agg. up to ₹224 Cr) |
| Share Holding Post Issue | 30,00,00,000 shares |
| BSE Script Code / NSE Symbol | 544135 / MUKKA |
| ISIN | INE0CG401037 |
Mukka Proteins IPO offers total 8,00,00,000 shares. Out of which 4,00,00,000 (50.00%) allocated to QIB, 1,60,00,435 (20.00%) allocated to QIB (Ex- Anchor), 1,20,00,000 (15.00%) allocated to NII 2,80,00,000 (35.00%) allocated to RII and 2,39,99,565 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 4,00,00,000 (50.00%) | NA |
| − Anchor Investor Shares Offered | 2,39,99,565 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 1,60,00,435 (20.00%) | NA |
| NII (HNI) Shares Offered | 1,20,00,000 (15.00%) | NA |
| − bNII > ₹10L | 80,00,000 (10.00%) | 1,068 |
| − sNII < ₹10L | 40,00,000 (5.00%) | 534 |
| Retail Shares Offered | 2,80,00,000 (35.00%) | 52,336 |
| Total Shares Offered | 8,00,00,000 (100.00%) |
Investors can bid for a minimum of 535 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 535 | ₹14,980 |
| Retail (Max) | 13 | 6,955 | ₹1,94,740 |
| S-HNI (Min) | 14 | 7,490 | ₹2,09,720 |
| S-HNI (Max) | 66 | 35,310 | ₹9,88,680 |
| B-HNI (Min) | 67 | 35,845 | ₹10,03,660 |
Mukka Proteins IPO raises ₹67.20 crore from anchor investors. Mukka Proteins IPO Anchor bid date is February 28, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Feb 28, 2024 |
| Shares Offered | 2,39,99,565 |
| Anchor Portion (₹ Cr.) | 67.20 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Apr 4, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Jun 3, 2024 |
Incorporated in March 2003, Mukka Proteins Limited manufactures fish protein products. The company produces and supplies fish meal, fish oil and fish soluble paste, which are essential ingredients for the production of aqua feed (for fish and shrimp), poultry feed (for broilers and layers) and pet food (for dog and cat food).
The company exports its products to over 10 countries, including Bahrain, Bangladesh, Chile, Indonesia, Malaysia, Myanmar, Philippines, China, Saudi Arabia, South Korea, Oman, Taiwan and Vietnam.
As of March 31, 2023, the company employed 385 people from various departments, including technical and support staff, administration, management and operations.
The company currently operates six production facilities, including four in India and two in Oman, which are held by its foreign subsidiary Ocean Aquatic Proteins LLC. In addition, the company operates three blending plants and five storage facilities, all of which are located in India. All of the company's facilities are strategically located near the coast.
The company is certified by NQA and UKAS to ISO 22000:2018 and ISO 9001:2015 management system standards.
As of December 31, 2022, the company has contractual arrangements with third-party manufacturing facilities in Sasihithlu (Karnataka), Udupi (Karnataka), Taloja (Maharashtra) and Ratnagiri (Maharashtra) for the supply of fishmeal and fish oil.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 641.18 | 575.16 | 392.30 | 353.93 |
| Total Income | 612.88 | 1,183.80 | 776.15 | 609.95 |
| Profit After Tax | 32.98 | 47.53 | 25.82 | 11.01 |
| NET Worth | 159.11 | 128.92 | 87.25 | 64.54 |
| Reserves and Surplus | 144.92 | 112.57 | 68.51 | 60.80 |
| Total Borrowing | 317.73 | 254.83 | 173.50 | 159.19 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding working capital requirements of the Company | 120.00 |
| 2 | Investment in our Associate, viz. Ento Proteins Private Limited, for funding its working capital requirements; and | 10.00 |
| 3 | General Corporate Purpose | 55.81 |
| KPI | |
|---|---|
| ROE | 36.71% |
| ROCE | 17.62% |
| Debt/Equity | 1.64 |
| RoNW | 34.19% |
| PAT Margin | 4.04% |
| Price to Book Value | 4.78 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 2.16 | 2.20 |
| P/E (x) | 12.96 | 12.73 |
| Promoter Holding | 100% | |
| Market Cap | ₹840.00 Cr. |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLM | 1.20 |
| 2 | Commission/processing fee for SCSBs, Sponsor Bank(s) and Bankers to the Issue and fee payable to the Sponsor Bank for Bids made by RIBs. Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, CRTAs and CDP(1)(2)(3)(4) | 0.40 |
| 3 | Advertising and marketing expenses | 1.40 |
| 4 | Fee payable to auditors, consultants, Advisors to the Company and market research firms, commissions (including underwriting commission, brokerage and selling commission). | 32.30 |
| 5 | Listing fees, SEBI, BSE and NSE processing fees, book building software fees and other regulatory expenses; Printing and distribution of stationery; Fees payable to the Registrar to the Issue; Fees payable to legal counsels; Monitoring Agency; and Miscellaneous. | 2.89 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹28.00 | ₹28.00 |
| Open | ₹44.00 | ₹40.00 |
| Low | ₹38.24 | ₹38.25 |
| High | ₹44.00 | ₹42.25 |
| Last Trade | ₹42.26 | ₹42.25 |
Lead Manager Reports
Mukka Proteins IPO is a main-board IPO of 8,00,00,000 equity shares of the face value of ₹1 aggregating up to ₹224 Crores. The issue is priced at ₹28 per share. The minimum order quantity is 535.
The IPO opens on Thu, Feb 29, 2024, and closes on Mon, Mar 4, 2024.
Cameo Corporate Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Mukka Proteins IPO using UPI as a payment gateway. Zerodha customers can apply in Mukka Proteins IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Mukka Proteins IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Mukka Proteins IPO opens on Thu, Feb 29, 2024 and closes on Mon, Mar 4, 2024.
Mukka Proteins IPO lot size is 535, and the minimum amount required for application is ₹14,980.
You can apply in Mukka Proteins IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Mukka Proteins IPO will be done on Tuesday, March 5, 2024, and the allotted shares will be credited to your demat account by Wed, Mar 6, 2024. Check the Mukka Proteins IPO allotment status.
The Mukka Proteins IPO listing date is on Thu, Mar 7, 2024.
