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Mukka Proteins IPO is a book built issue of Rs 224.00 crores. The issue is entirely a fresh issue of 8 crore shares.
Mukka Proteins IPO bidding started from February 29, 2024 and ended on March 4, 2024. The allotment for Mukka Proteins IPO was finalized on Tuesday, March 5, 2024. The shares got listed on BSE, NSE on March 7, 2024.
Mukka Proteins IPO price band is set at ₹26 to ₹28 per share. The minimum lot size for an application is 535 Shares. The minimum amount of investment required by retail investors is ₹14,980. The minimum lot size investment for sNII is 14 lots (7,490 shares), amounting to ₹209,720, and for bNII, it is 67 lots (35,845 shares), amounting to ₹1,003,660.
Fedex Securities Pvt Ltd is the book running lead manager of the Mukka Proteins IPO, while Cameo Corporate Services Limited is the registrar for 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 |
| 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 |
Mukka Proteins IPO offers 80,000,000 shares. 16,000,435 (20.00%) to QIB, 12,000,000 (15.00%) to NII, 28,000,000 (35.00%) to RII and 23,999,565 (30.00%) to Anchor investors. 52,336 RIIs will receive minimum 535 shares and 534 (sNII) and 1,068 (bNII) will receive minimum 7,490 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 23,999,565 (30.00%) | NA |
| QIB Shares Offered | 16,000,435 (20.00%) | NA |
| NII (HNI) Shares Offered | 12,000,000 (15.00%) | |
| bNII > ₹10L | 8,000,000 (10.00%) | 1,068 |
| sNII < ₹10L | 4,000,000 (5.00%) | 534 |
| Retail Shares Offered | 28,000,000 (35.00%) | 52,336 |
| Total Shares Offered | 80,000,000 (100%) |
Mukka Proteins IPO raises Rs 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 | 23,999,565 |
| 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 | 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 |
Investors can bid for a minimum of 535 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 535 | ₹14,980 |
| Retail (Max) | 13 | 6955 | ₹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 |
| Lot Size Calculator | |||
The Promoters of the Company are Kalandan Mohammed Haris, Kalandan Mohammad Arif and Kalandan Mohammed Althaf.
| Share Holding Pre Issue | 100% |
| 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 |
| Revenue | 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 Rs 840 Cr.
| KPI | Values |
|---|---|
| ROE | 36.71% |
| ROCE | 17.62% |
| Debt/Equity | 1.64 |
| RoNW | 34.19% |
| P/BV | 4.78 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.16 | 2.2 |
| 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...
The Mukka Proteins IPO is subscribed 136.99 times on March 4, 2024 7:02:00 PM. The public issue subscribed 58.52 times in the retail category, 189.28 times in the QIB category, and 250.39 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 189.28 |
| NII | 250.39 |
| bNII (bids above ₹10L) | 254.15 |
| sNII (bids below ₹10L) | 242.86 |
| Retail | 58.52 |
| Total | 136.99 |
Total Application : 2,597,830 (20.78 times)
| Listing Date | March 7, 2024 |
| BSE Script Code | 544135 |
| NSE Symbol | MUKKA |
| ISIN | INE0CG401037 |
| Final Issue Price | ₹28 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹28.00 |
| ₹44.00 |
| ₹38.24 |
| ₹44.00 |
| ₹42.26 |
| NSE |
|---|
| ₹28.00 |
| ₹40.00 |
| ₹38.25 |
| ₹42.25 |
| ₹42.25 |
Mukka Proteins Limited
Mukka Corporate House,
Door, No. 18-2-16/4, First Cross, NG Road, Attavar
Dakshina, Kannada, Mangaluru – 575 001
Phone: +918244252889
Email: cs@mukkaproteins.com
Website: https://www.mukkaproteins.com/
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: priya@cameoindia.com
Website: https://ipo.cameoindia.com/
Mukka Proteins IPO is a main-board IPO of 80,000,000 equity shares of the face value of ₹1 aggregating up to ₹224.00 Crores. The issue is priced at ₹26 to ₹28 per share. The minimum order quantity is 535 Shares.
The IPO opens on February 29, 2024, and closes on March 4, 2024.
Cameo Corporate Services Limited 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 Shares, and the minimum amount required is ₹14,980.
You can apply in Mukka Proteins IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, 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.
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