IPO Details

Bidding Dates

29 Feb '24 - 04 Mar '24

Minimum Investment

₹14,980 / 1 Lot ( 535 Shares)

Price Range

₹26 - ₹28

Maximum Investment

₹194,740 / 13 Lots ( 6955 shares)

Retail Discount

Not Applicable

Issue Size

₹ 224.00 Cr

Investor category and sub category

Retail Individual Investors  |   Non-Institutional Investors  |   Qualified Institutional Buyers (QIB)   |  

Mukka Proteins IPO Dates

Important dates with respect to IPO allotment and listing

IPO Open Date

Feb 29, 24

IPO Closing Date

Mar 04, 24

Basis of Allotment

Mar 05, 24

Initiation of Refunds

Mar 06, 24

Credit of Shares to Demat

Mar 06, 24

Listing Date

Mar 07, 24

Cut-off time for UPI mandate confirmation

Mar 04, 24

Mukka Proteins IPO Subscription Details

DateQIBNIIRetailTotal

Day 1Feb 28, 2024

 1.01x 1.60x 4.07x 2.67x

Day 2Feb 29, 2024

 1.03x 4.59x 8.92x 5.74x

Day 3Mar 3, 2024

 189.28x 250.26x 58.36x 136.89x

Mukka Proteins IPO Subscription Status Live

Investor Category Subscription (Times)
Qualified Institutional Buyers 189.28x
Non-Institutional Buyers 250.26x
Retail Investors 58.36x
Total 136.89x

About Company

Mukka Proteins Limited is involved in the manufacturing of fish protein products. The company manufactures and supplies fish oil, fish meal, and fish soluble paste, which are essential ingredients in the manufacture of aqua feed, poultry feed, and pet food. Fish oil is also used in pharmaceutical products, such as Omega-3 pills and related products, soap manufacturing, leather tanneries and paint industries.

The company sells its products in India and exports them to more than 10 countries, including Bangladesh, Bahrain, Chile, Malaysia, Indonesia, Philippines, Myanmar, Saudi Arabia, China, South Korea, Taiwan, Vietnam, and Oman. The company has 6 manufacturing units, out of which 4 units are located in India, and 2 are held through their foreign subsidiary, Ocean Aquatic Proteins LLC, in Oman. Further, the company operates 3 blending facilities and 5 storage facilities located in India. All their facilities are strategically located within close proximity to the coastline.

The Indian fish meal and fish oil industry experienced growth and development in the past 15-20 years, driven by export demand amid a global reduction in production. In fiscal 2023, fish meal exports surged to ₹26,947.2 million. Omega-3 pills and other products derived from fish oil are gaining significance as nutrient-rich and healthy dietary supplements.

As part of the Aatmanirbhar Bharat Abhiyan, the government-sanctioned Pradhan Mantri Matsya Sampada Yojana (PMMSY) in FY 2021 aimed to support the country's Blue Revolution through sustainable development of the fisheries sector. India, a major global animal feed producer, anticipates a robust 3.5-4.0% CAGR in the compound animal feed market from FY 2022 to 2026. Within this market, aqua feed is poised to be the fastest-growing segment, with an expected 9-10% CAGR in value terms. This growth will increase demand for protein-rich feed, including fish meal and fish oil. Mukka Proteins Limited will probably benefit from this.

Mukka Proteins Limited IPO Details

Mukka Proteins Limited IPO Dates

Mukka Proteins Limited’s IPO dates are not yet announced. The IPO will be listed on BSE and NSE.

Mukka Proteins Limited IPO Price Band

Mukka Proteins Limited is a fresh issue of up to 8,00,00,000 equity shares. The price of the IPO is to be announced.

Mukka Proteins Limited IPO Lot Size

Mukka Proteins Limited’s IPO lot size is to be announced.

Mukka Proteins Limited IPO Objectives

The objectives of Mukka Proteins Limited's IPO are listed below:

  • To fund the working capital requirements of their associate, Ento Proteins Private Limited.
  • For general corporate purposes.
  • For working capital requirements.

Peer Details

As per DRHP, there are no listed peers whose business portfolio is comparable to the company.

How To Check the Mukka Proteins Limited Allotment Status?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the IPO Section and then to IPO Orders
  • Select the individual IPO that you had applied for and check the allotment status.
  • Angel One will notify you of your IPO allotment status via push notification and email.
Open a demat account with Angel One to apply for the Mukka Proteins Limited IPO.

Contact Details of Mukka Proteins Limited IPO

  • Registered office: Mukka Corporate House, Door, No. 18-2-16/4, First Cross, NG Road, Attavara, Dakshina Kannada, Mangaluru - 575001, Karnataka, India.
  • Phone: +918244252889
  • E-mail: cs@mukkaproteins.com

IPO Financials

Particulars Year ending on March 31, 2022 (₹ million) Year ending on March 31, 2021 (₹ million) Year ending on March 31, 2020 (₹ million)
Total Revenue 7,761.45 6,099.52 5,542.94
Profit 242.08 89.76 131.76
Net Worth 872.45 645.41 563.06
Total Borrowings 1,734.99 1,591.93 1,416.76

Know before investing

Strengths

2

  1. The company is a leading manufacturer and exporter of fish protein products, and MPEDA has awarded them during the last 7 years for their export performance. The company had a market share of approximately 45-50% of India's fish meal and fish oil industry for FY 2022.

  2. The company has a long-established relationship with their key customers, who are the major producers of aqua feed, poultry feed and pet food.

Risks

2

  1. A large portion of the company’s revenue comes from exports, meaning they are exposed to significant exchange rate-related risks.

  2. They operate in an environmentally sensitive industry, subjected to disruptions due to unpredictable or unseasonal weather.

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Mukka Proteins IPO FAQs

What is Mukka Proteins Limited's IPO?

Mukka Proteins Limited IPO is a fresh issue of up to 8,00,00,000 equity shares. The price of the IPO is to be announced. The IPO open date is to be announced.    

When will Mukka Proteins Limited's IPO be allotted?

To be announced.

When will Mukka Proteins Limited's IPO open for subscription?

To be announced.

What minimum lot size can retail investors subscribe to?

To be announced.

When will Mukka Proteins Limited list on exchanges?

Mukka Proteins Ltd IPO will be listed on the NSE and BSE. The listing date is to be announced.

How do I check the allotment status of the Mukka Proteins Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the IPO Section and then to IPO Orders
  • Select the individual IPO that you had applied for and check the allotment status.
  • Angel One will notify you of your IPO allotment status via push notification and email.

What would be the listing gains on the Mukka Proteins Limited IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

I have finished the application process for the Mukka Proteins Limited IPO, but the funds still need to be debited. What is the reason?

The bank will only block the amount initially in your account. Under the new system, the money isn’t debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Mukka Proteins Limited's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Mukka Proteins Limited using one PAN?

You can submit only one application using your PAN card.