22-Feb-2024
2 mins read
Mukka Proteins Limited is coming up with its Initial Public Offer. This IPO is open for subscription from Thursday, February 29, 2024 and will close on Monday, March 4, 2024. The price band of this IPO is Rs 26 to Rs 28 per share. However, the face value is Rs 1 per share. It is a booking-built issue of Rs 224 crores and it is completely a fresh issue. The minimum lot size of this application for the retail category is 535 shares. The minimum lot size for small non-institutional investors is 14 lots consisting of 7,490 shares. Meanwhile, the minimum lot for big non-institutional investors is 67 lots with 35,845 shares. The minimum amount of investment required for retail category investors is Rs 14,980 ( 28 x 535 shares). However, for small non-institutional investors, the minimum investment amount required is Rs 2,09,720 ( 28 x 7,490 shares); for big non-institutional investors, it is Rs 10,03,660 (28 x 35,845 shares). The allotment for this IPO is expected to be finalised on Tuesday, March 5, 2024. The listing date of Mukka Proteins IPO is Thursday, March 7, 2024. The listing will be at BSE as well as on NSE. The lead managers for this IPO is Fedex Securities Private Limited. The registrar for this issue is Cameo Corporate Services Limited.
About Mukka Proteins Limited Company Profile
Mukka Proteins Company incorporated in March 2003, engaged in the business of manufacturing fish protein products. They produce and supply fish meal, fish oil and fish soluble paste which is an essential ingredient for the production of the aqua feed, poultry feed and pet food. Mukka Proteins is awarded with the MPEDA, for their outstanding performance in the export of fish meal and fish oil and allied products. Company believes that they are one of the main players of the fish protein industry in India. Company exports its product over ten countries including, Bangladesh, Indonesia, Malaysia, Myanmar, China, Philippines, South Arabia, South Korea, Bahrain, Vietnam, Taiwan, Chile, Oman. Mukka Proteins operates six production facilities, 4 in India and 2 in Oman which are held by its foreign subsidiary Aquatic Proteins LLC. Moreover, the company also operates three blending plants and five storage facilities all located in India. As per record the company employed 385 people from various departments including administration, technical and support staff, management and operations.
Objectives of Mukka Proteins Upcoming IPO
The funds raised from this Initial Public Offering will be used to meet the W.C requirements. Moreover, the proceeds will be used to invest in the associate company – Ento Proteins Private Limited and fulfilling its working capital requirements. Other than this, general corporate purposes will also be fulfilled.
Consolidated Financials Details of Mukka Proteins Limited (Amt in Rs Crores)
Mukka Proteins reported a revenue of Rs 612.88 crore and net profit of Rs 32.98 crore for the period ending on September, 30, 2023. Company’s revenue increased by 52.52% and profit after tax increased by 84.07% between the FY ending of 31 March , 2023 and March 31, 2022.
| Period Ended | 30-Sep-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 641.18 | 575.16 | 392.3 | 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 | 60.8 |
| Total Borrowing | 317.73 | 254.83 | 173.5 | 159.19 |
Other Important Details of Mukka Proteins Limited IPO
| IPO Date | February 29, 2024 to March 4, 2024 |
| Listing Date | 7-Mar-24 |
| Face Value | Rs 1 per share |
| Price Band | Rs 26 to Rs 28 per share |
| Lot Size | 535 Shares |
| Total Issue Size | 80,000,000 shares |
| amounting to Rs 224 crore | |
| Fresh Issue | 80,000,000 shares |
| amounting to Rs 224 crore | |
| IPO Issue Type | Book Built Issue |
| Listing At | NSE, BSE |
IPO Reservation of Mukka Proteins Limited
| Category Of Investors | Equity Shares Offered |
| Equity shares offered to Qualified Institutional Investors | Not more than 50 percent of the Net Issue |
| Equity shares offered to the Retail Investors | Not less than 35 percent of the Net Issue |
| Equity shares offered to Non-Institutional Investors | Not less than 15 percent of the Net Issue |
IPO Lot Size For Different Category
| Application | Lots | Shares | Amount |
| Retail Minimum | 1 | 535 | Rs 14,980 |
| Retail Maximum | 13 | 6955 | Rs 194,740 |
| Small HNI Minimum | 14 | 7,490 | Rs 209,720 |
| Small HNI Maximum | 66 | 35,310 | Rs 988,680 |
| Big HNI Minimum | 67 | 35,845 | Rs 1,003,660 |
Promoters and Shareholdings of Mukka Proteins Limited
Kalandan Mohammed Haris, Kalandan Mohammad Arif and Kalandan Mohammed Althaf are the promoters of Mukka Proteins Limited.
| Shareholding Pre Issue | 100% |
| Shareholding Post Issue | – |
Time-Table of Mukka Proteins Limited IPO
| 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 |
Lead Manager(s) of Mukka Proteins Limited IPO?
The book-running lead manager for Mukka Proteins Limited IPO is Fedex Securities Private Limited.
How to Apply for Mukka Proteins Limited IPO?
Wait for the public issue to open for subscription, then click here to apply for the Mukka Proteins Limited IPO with Bigul.
How to Check Allotment Status of Mukka Proteins Limited IPO?
The registrar for Mukka Proteins Limited IPO is Cameo Corporate Services Limited. To check your allotment status, please click here.
FAQs
- What is Mukka Proteins Limited IPO 2024?
Mukka Proteins Limited is coming up with its Initial Public Offer. This IPO is open for subscription from Thursday, February 29, 2024 and will close on Monday, March 4, 2024. The minimum amount of investment required for retail category investors is Rs 14,980 ( 28 x 535 shares).
- What is the price band and minimum investment for the Mukka Proteins Limited IPO?
The price band of this IPO is Rs 26 to Rs 28 per share.
- Who are the lead managers for the Mukka Proteins Limited IPO 2024?
Fedex Securities Private Limited was appointed as the lead manager for the IPO.
- What is the role of Cameo Corporate Services Limited in this IPO?
Cameo Corporate Services Limited is the registrar for Mukka Proteins Limited, handling the IPO’s administrative aspects.
- How can I apply for the Mukka Proteins Limited IPO 2024?
The public subscription of this IPO will open on February 26, 2024. Visit Bigul website for the application process.
- How will the net proceeds from the IPO be utilised?
The funds raised from this Initail Public Offering will be used to meet the W.C requirements of the company. Moreover, the proceeds will be used to invest in the associate company – Ento Proteins Private Limited and fulfilling its working capital requirements.
- How can I check the allotment status of the IPO?
Investor’s can check the allotment status of the Mukka Proteins Limited IPO 2024 by clicking here.
- What is the financial performance of Mukka Proteins Limited?
Mukka Proteins reported a revenue of Rs 612.88 crore and net profit of Rs 32.98 crore for the period ending on September, 30, 2023. Company’s revenue increased by 52.52% and profit after tax increased by 84.07% between the FY ending of 31 March 2023 and 31 March 2022.
- When will the allotment get finalised and what is the listing date?
The allotment for this IPO is expected to be finalised on Tuesday, March 5, 2024. The listing date is Thursday, March 7, 2024.