Mukka Proteins’ shares made a debut in the stock market today (March 7). The stocks listed at Rs 44 on BSE at a premium of 57.14% over the issue price of Rs 28. On NSE, Mukka Proteins was listed at Rs 40 at a premium of 42.86%.
During the bidding period, Mukka Protein’s shares were subscribed 136.89 times (7,66,57,65,155 bids against 5,60,00,435 shares).
Mukka Proteins is a leading manufacturer and exporter of fish proteins, catering to the ever-growing demand for aqua feed, poultry feed, and pet food. The company’s product portfolio includes fish meal, fish oil, and fish-soluble paste – essential ingredients for these industries.
Mukka Proteins’ IPO in 5 points
Here are some key points you should know about Mukka Proteins and the IPO
1. The IPO Size: Mukka Proteins was aiming to raise a substantial Rs 224 crore through a fresh issue of 80 million equity shares.
2. Valuation: With a price band of Rs 26-28 per share, Mukka Proteins was eyeing a market capitalization of around Rs 896 crore at the upper end. This valuation was backed by the company’s financial performance, growth prospects, and a well-established presence in the rapidly expanding plant-based protein market.
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3. Reach: Mukka Proteins’ products are exported to over 20 countries across Asia, the Middle East, and beyond. With production facilities strategically located in India and Oman, the company is well-positioned to cater to the growing demand for plant-based proteins worldwide.
4. Why this IPO? According to the company, the IPO proceeds will be utilized for funding working capital requirements, investing in an associate company, and supporting general corporate purposes. It expects the funds from IPO will propel growth trajectory.
5. Grey Market Buzz: Ahead of its listing, Mukka Proteins’ shares commanded a premium of 89% in the grey market, reflecting strong investor interest and confidence in the company’s prospects.
With its diverse product portfolio catering to the aqua feed, poultry feed, and pet food industries, Mukka Proteins presents an intriguing investment opportunity in protein and animal feed sector. However, as with any investment, it’s crucial to conduct thorough research and consult financial advisors before making a decision.
Disclaimer: The above content is for informational purposes only, not a stock or investment advice. Please consult a SEBI-registered investment advisor before investing
