Mukka Proteins IPO: On March 1, the Rs 224-crore initial public offering (IPO) of Mukka Proteins saw a robust subscription rate, being subscribed 4.55 times by the end of the second day of bidding.
Retail investors took the lead in the subscription race, showing significant interest by subscribing 7.1 times the quota of shares allocated for them. High-net-worth individuals also showed strong participation, subscribing 3.33 times their allotted quota, while qualified institutional buyers subscribed 1.02 times their reserved portion.
The price band for the offer, which will conclude on March 4, has been set at Rs 26–28 per share.
The company intends to allocate Rs 120 crore of the proceeds to fulfill its working capital requirements. Furthermore, a portion of Rs 10 crore will be set aside for its affiliate, Ento Proteins, while the remainder of the funds will be allocated for general corporate purposes.
Before the IPO, the fish protein products manufacturer garnered Rs 67.2 crore through its anchor book. Notably, six prominent investors, such as Neomile Growth Fund, Saint Capital Fund, Eminence Global Fund, and Elara India Opportunities Fund, participated in the anchor book.
Mukka Proteins IPO
Established in March 2003, Mukka Proteins Limited is a specialist in the production of fish protein products. The company has a strong global presence, exporting its products to over 10 countries, including Bahrain, Bangladesh, Chile, Indonesia, Malaysia, Myanmar, the Philippines, China, Saudi Arabia, South Korea, Oman, Taiwan, and Vietnam.
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Operating from six facilities, Mukka Proteins specializes in supplying fish meal, fish oil, and fish-soluble paste. These products serve as crucial ingredients in the production of aqua feed for fish and shrimp, poultry feed for broilers and layers, and pet food for dogs and cats.
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