Mukka Proteins was incorporated as Mukka Sea Food Industries on March 13, 2003. Mukka Proteins is an animal protein company, primarily engaged in the production of Fish Meal, Fish Oil, and Fish Soluble Paste, as well as developing alternative proteins such as Black Soldier Fly (BSF) Insect Meal in the animal food segment.
| Bidding Dates |
|---|
| 29 Feb 2024 - 04 Mar 2024 |
| Subscription |
|---|
| 136.99x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹13,910 | 1 | 13 | 535 | 80.0 M | ₹26 - ₹28 | 73.33 % | ₹2080.0 M - ₹2240.0 M | RHP DOC |
Mukka Proteins IPO SUBSCRIPTION STATUS
04 Mar '24Mukka Proteins IPO overall subscription rate was 136.99 times the total available shares
Mukka Proteins IPO retail subscription rate was 58.52 times in the retail segment
Mukka Proteins IPO non-institutional investor subscription rate was 250.38 times in the non-institutional investor category
Mukka Proteins IPO Qualified Institutional Bidder subscription rate was 189.28 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
04 Mar 2024 (Day 3) | 58.52x | 250.38x | 189.28x |
01 Mar 2024 (Day 2) | 10.21x | 6.22x | 1.86x |
29 Feb 2024 (Day 1) | 3.7x | 1.55x | 1.01x |
Mukka Proteins FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY24 | 329.8 | 6,060.9 | -201.2 | -242.8 | 10.1% |
| FY23 | 475.3 | 11,771.2 | -544.0 | -624.0 | 8.0% |
| FY22 | 258.2 | 7,705.0 | 48.1 | -14.7 | 7.0% |
| FY21 | 110.1 | 6,038.3 | 59.5 | -42.8 | 5.3% |
Mukka Proteins IPO SUBSCRIPTION STATUS DETAILS
Mukka Proteins had 80.0 M shares on offer
Mukka Proteins IPO offer price was in the range ₹26 - ₹28
Mukka Proteins IPO minimum Investment was ₹13910
Mukka Proteins IPO issue size was ₹ 2080.0 M - ₹ 2240.0 M
Mukka Proteins had a minimum lot size of 535 Shares per application
Mukka Proteins NUMBER OF SHARES ON OFFER
Mukka Proteins IPO IMPORTANT DATES
| Issue Open Date | 29 Feb 2024 |
| Issue close Date | 04 Mar 2024 |
| Allotment Date | 05 Mar 2024 |
| Refund Date | 06 Mar 2024 |
| Demat Account Credit Date | 06 Mar 2024 |
| Listing Date | 07 Mar 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Mukka Proteins Allotment Status | Exchange |
Mukka Proteins IPO subscription opened on 29 Feb 2024, and closed on 04 Mar 2024
IPO allotment for Mukka Proteins was finalized on Tuesday, 05 Mar 2024
IPO listing for Mukka Proteins was on NSE and BSE on Thursday, 07 Mar 2024
Mukka Proteins IPO LISTING GAINS
| Issue Price (adjusted) | 28.0 |
| Listing Open Price | 40.0 |
| Listing Close Price | 42.3 |
| Listing Gain% | 42.9% |
| Current Gain% | -16.4% |
Mukka Proteins Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mukka Proteins Ltd. | 23.4 | 702.3 | 13.6 | 1.1 | 0.5 | 10.4 | 3.2 | 1478.1 | 44.7 | 52.1 | 12.1 | 1.7 | 12.1 |
| Varun Beverages Ltd. | 442 | 149504.9 | 44.2 | 2.3 | 6.2 | 15.5 | 11.9 | 22037.7 | 9.5 | 3036.5 | 17 | 10 | 18.9 |
| EID Parry (India) Ltd. | 805.1 | 14327.2 | 25.2 | -0.7 | 0.4 | 6.5 | 1.9 | 38883.4 | 21.6 | 569.5 | -35.2 | 32 | -35.2 |
| Avanti Feeds Ltd. | 906.6 | 12351.3 | 20.4 | 1.4 | 2 | 18.4 | 14.2 | 6276.5 | 8.6 | 606.1 | 14.6 | 44.5 | 14.6 |
| Manorama Industries Ltd. | 1636.2 | 10328.1 | 48.1 | 0.2 | 7.6 | 32 | 18.1 | 1377.1 | 73.9 | 214.9 | 95.8 | 34.1 | 204.8 |
| Sanstar Ltd. | 113.4 | 2066.8 | 60 | -2.8 | 2.6 | 5 | 4.3 | 796.4 | -18 | 34.4 | -21.3 | 1.9 | -21.3 |
Mukka Proteins IPO Reports
Mukka Proteins INFORMATION ON IPO ISSUE
About Mukka Proteins
Mukka Proteins was incorporated as Mukka Sea Food Industries on March 13, 2003. Mukka Proteins is an animal protein company, primarily engaged in the production of Fish Meal, Fish Oil, and Fish Soluble Paste, as well as developing alternative proteins such as Black Soldier Fly (BSF) Insect Meal in the animal food segment.
Object of the Issue
- Funding the working capital requirements of the company.
- Investment in the associate, viz. Ento Proteins Private Limited, for funding its working capital requirements.
- General corporate purposes.
Mukka Proteins - PROMOTERS
| Name |
|---|
| Kalandan Mohammed Haris |
| Kalandan Mohammad Arif |
| Kalandan Mohammed Althaf |
Mukka Proteins Book Running Lead Manager
Fedex Securities Private Limited
mb@fedsec.in
Mukka Proteins Registrar to the issue
Cameo Corporate Services Limited
priya@cameoindia.com
Mukka Proteins Strengths
Market position
The company's market position as a manufacturer and exporter in the fast-growing fish meal industry has been consistently recognised by MPEDA, with awards for its export performance over the last seven years
Addressable market
The company operates in an industry that has a large addressable market with entry barriers and long-standing relationships with key end customers
Consistent financial performance
The company has demonstrated consistent growth in terms of revenues and profitability. It has managed to increase its revenue from operations at a CAGR of 18.44% over the last three fiscal years, from Rs 549.3 crore in FY20 to Rs 770.5 crore in FY22
Mukka Proteins Risks
Legal proceedings
The company, its subsidiaries, associates, joint ventures, promoters, directors, and group companies are involved in certain legal proceedings. An adverse decision in such proceedings could have a material adverse effect on the business
Sensitive industry
The company operates in an environmentally sensitive industry where widespread contamination from man-made factors affects the pelagic fish populations
Dependent on few customers
The company derives a significant majority of its revenues from operations from a limited number of customers
IPO FAQs
The promoters of the company are Kalandan Mohammed Haris, Kalandan Mohammad Arif and Kalandan Mohammed Althaf.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 26.0 - 28.0.
The IPO application opens on Feb 29, 2024 and closes on Mar 04, 2024.
The minimum lot size for the IPO is 535. The maximum lot size for the IPO is 6955.
For all category investors, the minimum application amount for this IPO is Rs. 13,910.0, the maximum value for this IPO is Rs 194,740.0.
This IPO will be allotted on Mar 05, 2024.
The refund will be credited to your account on Mar 06, 2024.
The allotted shares will be credited to your demat on Mar 06, 2024.
Mukka Proteins Ltd.’s shares listed on the stock exchanges on Mar 07, 2024.