Mukka Proteins IPO Price: ₹26 to ₹28
IPO Date Range: Feb 29, 2024 - Mar 4, 2024
Established in March 2003, Mukka Proteins Limited specializes in the production of fish protein products. The company plays a pivotal role in the manufacturing and supply of crucial ingredients such as fish meal, fish oil, and fish soluble paste.
Mukka Proteins Limited caters to various industries by providing essential components for aqua feed (for fish and shrimp), poultry feed (for broilers and layers), and pet food (for dog and cat food).
Mukka Proteins Limited operates six production facilities, strategically distributed across four locations in India and two in Oman. These facilities are under the ownership of its foreign subsidiary, Ocean Aquatic Proteins LLC.
Complementing its production capabilities, the company manages three blending plants and five storage facilities, all strategically positioned in India. Notably, all facilities are situated in proximity to coastal regions.
The company has a robust international presence, exporting its products to more than 10 countries. These include Bahrain, Bangladesh, Chile, Indonesia, Malaysia, Myanmar, Philippines, China, Saudi Arabia, South Korea, Oman, Taiwan, and Vietnam.
As of December 31, 2022, Mukka Proteins Limited has established contractual agreements with third-party manufacturing facilities in Sasihithlu (Karnataka), Udupi (Karnataka), Taloja (Maharashtra), and Ratnagiri (Maharashtra) to ensure a consistent supply of fishmeal and fish oil.
| IPO Date | February 29, 2024 to March 4, 2024 |
| Listing Date | Thursday, March 7, 2024 |
| Face Value | ₹1 per share |
| Price Band | ₹26 to ₹28 per share |
| Lot Size | 535 shares |
| Total Issue Size | 80,000,000 shares (aggregating up to ₹224.00 Cr) |
| Fresh Issue | 80,000,000 shares (aggregating up to ₹224.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 220,000,000 |
| Share holding post issue | 300,000,000 |
Bidders have the opportunity to bid for a minimum of 535 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 535 | ₹14,980 |
| Retail (Max) | 13 | 6,955 | ₹194,740 |
| S-HNI (Min) | 14 | 7,490 | ₹209,720 |
| S-HNI (Max) | 66 | 35,310 | ₹988,680 |
| B-HNI (Min) | 67 | 35,845 | ₹1,003,660 |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
| IPO Open Date | Thursday, February 29, 2024 |
| IPO Close Date | Monday, March 4, 2024 |
| Basis of Allotment | Tuesday, March 5, 2024 |
| Initiation of Refunds | Wednesday, March 6, 2024 |
| Credit of Shares to Demat | Wednesday, March 6, 2024 |
| Listing Date | Thursday, March 7 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 4, 2024 |
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Mukka Proteins Limited witnessed a remarkable surge in revenue, soaring by 52.52%, while the profit after tax (PAT) experienced an impressive ascent of 84.07% during the financial year that concluded on March 31, 2023, compared to the preceding year ending on March 31, 2022.
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 | 30 Sep 2023 |
|---|---|---|---|---|
| Assets | 353.93 | 392.30 | 575.16 | 641.18 |
| Revenue | 609.95 | 776.15 | 1183.80 | 612.88 |
| Profit After Tax | 11.01 | 25.82 | 47.53 | 32.98 |
| Net Worth | 64.54 | 87.25 | 128.92 | 159.11 |
| Reserves & Surplus | 60.80 | 68.51 | 112.57 | 144.92 |
| Total Borrowing | 159.19 | 173.50 | 254.83 | 317.73 |
| KPI | Values |
|---|---|
| Market Cap (Rs Cr) | 840 |
| P/E (x) | 12.96 |
| ROE | 36.71% |
| ROCE | 17.62% |
| Debt/ Equity | 1.64 |
| EPS | 2.16 |
| RoNW | 34.19% |
The company aims to allocate the Net Proceeds from the Issue for the following purposes:
Prospectus: Official documents that provide detailed information about the IPO and the company. Mukka Proteins DRHP and Mukka Proteins RHP.
An IPO, or Initial Public Offering, is the process by which a private company offers its shares to the public for the first time to raise capital.
Companies go public to raise capital for expansion, reduce debt, or for other corporate purposes. It also provides liquidity to existing shareholders.
The price range for the"Mukka Proteins Limited" IPO is ₹26 to ₹28 per share.
The "Mukka Proteins Limited" IPO is expected to be listed on Thursday, 7 March 2024.
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