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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 ₹28.00 per share . The lot size for an application is 535. The minimum amount of investment required by an retail is ₹13,910 (535 shares). 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 Date | February 29, 2024 to March 4, 2024 |
| Listing Date | March 7, 2024 |
| Face Value | ₹1 per share |
| Issue Price Band | ₹26 to ₹28 per share |
| Issue Price Final | ₹28 per share |
| Lot Size | 535 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 8,00,00,000 shares (aggregating up to ₹224.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Post Issue | 30,00,00,000 shares |
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, 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 | Maximum 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%) |
Mukka Proteins IPO raises ₹67.20 crore from anchor investors. Mukka Proteins IPO Anchor bid date is February 28, 2024. Mukka Proteins IPO Anchor Investors list
| Bid Date | February 28, 2024 |
| Shares Offered | 2,39,99,565 |
| Anchor Portion Size (In Cr.) | 67.20 |
| Anchor lock-in period end date for 50% shares (30 Days) | April 4, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | June 3, 2024 |
Mukka Proteins IPO opens on February 29, 2024, and closes on March 4, 2024.
| IPO Open Date | Thu, Feb 29, 2024 |
| IPO Close Date | Mon, Mar 4, 2024 |
| Tentative Allotment | Tue, Mar 5, 2024 |
| Initiation of Refunds | Wed, Mar 6, 2024 |
| Credit of Shares to Demat | Wed, Mar 6, 2024 |
| Tentative Listing Date | Thu, Mar 7, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Mar 4, 2024 |
Investors can bid for a minimum of 535 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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.
Mukka Proteins Limited's revenue increased by 52.52% and profit after tax (PAT) rose by 84.07% between the financial year ending with March 31, 2023 and March 31, 2022.
| 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 market capitalization of Mukka Proteins IPO is ₹840.00 Cr.
| KPI | Values |
|---|---|
| ROE | 36.71% |
| ROCE | 17.62% |
| Debt/Equity | 1.64 |
| RoNW | 34.19% |
| Price to Book Value | 4.78 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 2.16 | 2.20 |
| P/E (x) | 12.96 | 12.73 |
The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
[Dilip Davda] MPL is a numero uno company in fish meals, fish oils and related allied products with 25-30% market share domestically. It also has good demand in global markets. The company has posted growth in its top and bottom lines for the reported periods. Based on FY24 annualized earnings, the issue appears reasonably priced. The company may attract first mover fancy post listing. Investor (who have no reservation for the segments) may lap it up for the medium to long term rewards. Read detail review...
| Listing Date | March 7, 2024 |
| BSE Script Code | 544135 |
| NSE Symbol | MUKKA |
| ISIN | INE0CG401037 |
| Final Issue Price | ₹28 per share |
| BSE Listing Group | B |
Mukka Proteins Ltd.
Mukka Corporate House,
Door, No. 18-2-16/4, First Cross, NG Road, Attavar
Dakshina, Kannada, Mangaluru – 575 001
Mangaluru, Karnataka
Phone: +918244252889
Email: cs@mukkaproteins.com
Website: https://www.mukkaproteins.com/
Cameo Corporate Services Ltd.
Phone: +91-44-28460390
Email: priya@cameoindia.com
Website: https://ipo.cameoindia.com/
Mukka Proteins IPO is a main-board IPO of 8,00,00,000 equity shares of the face value of ₹1 aggregating up to ₹224.00 Crores. The issue is priced at ₹28 per share. The minimum order quantity is 535.
The IPO opens on February 29, 2024, and closes on March 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 February 29, 2024 and closes on March 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 Wednesday, March 6, 2024. Check the Mukka Proteins IPO allotment status.
The Mukka Proteins IPO listing date is on Thursday, March 7, 2024.
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