IPO

Mukka Proteins Limited IPO

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Animal Feed

Listed On: Mar 7, 2024 at ₹ 40.0(NSE)

₹ 14980 /535 Shares

Check Allotment

29 Feb, 2024

Open Date

04 Mar, 2024

Close Date

05 Mar, 2024

Allotment Date

07 Mar, 2024

Listing Date
Price Summary

Last Closing

24.00 (-14.29%)

52 Week High

43.94

52 Week Low

23.65

Last Update

18-Dec-2025 3:30 PM
Expected Premium
+ ₹32-35 (114.29%)

*Expected Premium provided in this app is derived from market rumors. It is not a guaranteed indicator of the actual listing price and should be interpreted with caution.

Expected Premium
+ ₹32-35 (114.29%)
Mukka Proteins Limited IPO Issue Details
  • Issue Price ₹26-28 per equity share
  • Face Value ₹1 Per Equity Share
  • Total Issue Size 8,00,00,000 shares(aggregating up to ₹224 crore)
  • Fresh Share 8,00,00,000 shares(aggregating up to ₹224 crore)
  • Listing at BSE, NSE
  • List Price 40.0(NSE)
  • Listing Date 2024-03-07
  • Lead Manager Fedex Securities Pvt Ltd
  • Registrar Cameo Corporate Services Limited
Market Lot Size

Investors can bid for a minimum of 535 shares and in multiples thereof. The following 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 ₹1,94,740
SHNI(min) 14 7,490 ₹2,09,720
SHNI(max) 66 35,310 ₹9,88,680
BHNI(min) 67 35,845 ₹10,03,660
Mukka Proteins Limited IPO Reservation

Mukka Proteins Limited IPO offers total 80,000,000 shares. Out of which 16,000,435 (20%) allocated to QIB, 12,000,000 (15%) allocated to NII,28,000,000 (35%) allocated to RII, NA (NA%) allocated to employees and 23,999,565 (30%) allocated to Anchor investors.

Investor Category Shares Offered Maximum Allottees
Anchor Investor Shares Offered 23,999,565 (30%)
QIB Shares Offered 16,000,435 (20%)
NII (HNI) Shares Offered 12,000,000 (15%)
bNII > ₹10L 8,000,000 (10%)
sNII < ₹10L 4,000,000 (5%)
Retail Shares Offered 28,000,000 (35%)
Total Shares Offered 80,000,000 (100%)
Mukka Proteins Limited IPO Documents
DRHP
Mukka Proteins Limited IPO Details


Mukka Proteins Limited IPO is a book-built issue of ₹224 crores, The total issue size is ₹224 crores. The IPO of Mukka Proteins Limited is priced at ₹26-28 per equity share, which has a face value of ₹1 Per Equity Share each, IPO bidding starts from Feb 29, 2024 and ends on Mar 4, 2024. The allotment for Mukka Proteins Limited IPO will be finalized on Mar 5, 2024. Mukka Proteins Limited IPO will be listed on BSE, NSE, with a tentative listing date fixed as Mar 7, 2024. The company shall list its equity shares on the BSE, NSE. Cameo Corporate Services Limited is the registrar of the issue.

Retail investors can bid for a minimum of 535 shares, extendable to 14,980. S-HNIs will be able to bid for 7,490 shares at ₹2,09,720, while B-HNIs can also apply for a bid of 35,845 shares at ₹10,03,660. The book-running lead manager for the IPO is/are Fedex Securities Pvt Ltd.

The total issue ₹224 crore, comprising a fresh issue of 8,00,00,000 shares ₹224 crore
The Mukka Proteins Limited IPO sets its price band at 26-28 for each share. A single application for Mukka Proteins Limited IPO must contain at least 535 shares. Sentiment investors need to invest a minimum of 535 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,980 In order to participate in the sNII, investors must purchase at least 14 lots of 7,490 shares for ₹2,09,720, while the bNII requires 67 lots of 35,845 shares for an investment of ₹10,03,660.

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Mukka Proteins Limited IPO Subscription Analysis And Details
Retail
58.36x
QIB
189.28x
NII
250.26x
bNII
254.15x
sNII
242.48x
Total
136.89x
As on QIB NII
bNII   sNII 		Retail Total
Shares Offered / Reserved 16,000,435 12,000,000
8,000,000    4,000,000 		28,000,000 56,000,435
Day 1 29-02-24 05:00 PM
1.01 x 1.55
0.71 x   3.24 x 		3.70 x 2.47 x
Day 2 01-03-24 05:00 PM
1.86 x 6.22
3.12 x   12.41 x 		10.21 x 6.97 x
Day 3 04-03-24 05:00 PM
189.28 x 250.26
254.15 x   242.48 x 		58.36 x 136.89 x
Total No of Applications
25,91,666
Mukka Proteins Limited Valuations
EPS Pre IPO ₹2.16/-
EPS Post IPO ₹2.20/-
P/E Pre IPO 12.96
P/E Post IPO 12.73
ROE 36.71%
ROCE 17.62%
Debt/Equity 1.64
RoNW 34.19%
Price to Book Value 4.78
Mukka Proteins Limited Company Financials
In Crs.
In Cr.
31-Mar-23 31-Mar-22 31-Mar-21
Assets 575.16 392.30 353.93
Revenue 1,183.80 776.15 609.95
Profit After Tax 47.53 25.82 11.01
Net Worth 128.92 87.25 64.54
Reserves & Surplus 112.57 68.51 60.80
Total Borrowing 254.83 173.50 159.19
About Mukka Proteins Limited Company

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.

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Mukka Proteins Limited - Promoter(s)

Kalandan Mohammed Haris

Kalandan Mohammad Arif

Kalandan Mohammed Althaf

Pre Issue Share Holding : 100%

Post Issue Share Holding : N/A%

Mukka Proteins Limited IPO - Issue Objectives
1

Funding working capital requirements of the Company

2

Investment in the Associate, viz. Ento Proteins Private Limited, for funding its working capital requirements

3

General Corporate Purposes.

Mukka Proteins Limited IPO - Anchor Investors

Mukka Proteins IPO | Institutional investors pick Rs 67 crore worth shares via anchor book.

The Karnataka-based company, in its filing to exchanges, said it has finalised allocation of 2,39,99,565 equity shares to anchor investors at a price of Rs 28 per equity share.

Total six investors participated in the anchor book including Neomile Growth Fund, Saint Capital Fund, Eminence Global Fund, and Elara India Opportunities Fund.

Neomile Growth Fund was the largest investor amongst them, buying Rs 16.19 crore worth of shares, followed by Eminence Global Fund which picked Rs 11 crore-worth shares of the company in the anchor book round, while the rest of the 4 participants acquired Rs 10 Crore shares each.

Mukka Proteins Limited IPO - Peers Comparison
Company Name EPS (Basic) EPS (Diluted) NAV (per share) (Rs) P/E (x) RoNW (%) P/BV Ratio Financial statements
Mukka Proteins Limited 2 2 5.86 N/A 34.19 N/A Consolidated
Avanti Feeds Ltd. 20.45 20.45 174.45 25 13.14 2.94 Consolidated
Godrej Agrovet Ltd 15.71 15.71 142.78 33.23 10.77 3.58 Consolidated
Zeal Aqua Ltd 0.56 0.56 5.61 20.63 9.97 2.14 Consolidated
Waterbase Ltd. -0.84 -0.84 44.1 N/A -1.9 1.89 Consolidated

Notes:

  1. Considering the nature and size of the business of the Company the peers are not strictly comparable. However, the above company is included for broad comparison.
  2. NAV is computed as the closing net worth divided by the closing outstanding number of equity shares. Net worth has been computed as the aggregate of share capital and reserves and surplus (excluding Revaluation Reserves, if any) and as attributable to the owners of the Company.
  3. P/E Ratio for the peer has been computed based on the closing market price of respective equity shares as on February 23, 2024 sourced from the website of Stock Exchanges as divided by the Basic/diluted EPS as applicable.
  4. RoNW is computed as net profit after tax (excluding comprehensive income), as attributable to the owners of the Company divided by closing net worth. Net worth has been computed as the aggregate of share capital and reserves and surplus (excluding Revaluation Reserves) and as attributable to the owners of the Company.