Investor reception to the initial public offering (IPO) of Mukka Protein, a manufacturer of fish protein supplements, has been quite positive. As of the latest subscription day, 136.89 people had subscribed to the issue. There are 5.60 crore shares on offer, and it has received bids for a total of 766.58 crore shares. With this offering, the company hopes to raise Rs 224 crore. The business has set the price range for the offering at Rs 26–28 per share. As part of the IPO, 8 crore new equity shares were distributed. The BSE and NSE will list the company’s shares.
Mukka Proteins IPO:
Details related to subscription
Qualified Institutional Investors (QIB) – 189.28 times
Non-Institutional Investors – 250.26 times
Retail Investors – 58.36 times
Total – 136.89 times
(04 Mar 2024 | PM)
Where will Mukka Proteins use the funds?
Only fresh equity shares will be issued under this IPO. This means that all the proceeds from the IPO will go to the company. The Karnataka-based company plans to allocate Rs 120 crore to meet its working capital requirements. The company intends to spend Rs 10 crore for the working capital requirements of its associate company, Ento Proteins. The money that is left over will be applied to basic business needs.
About Mukka Proteins
Mukka Proteins Limited was established in 2003. This company manufactures fish protein products. The company is exporting its goods to over ten nations, thereby broadening its global reach. Its export markets include countries like Bahrain, Bangladesh, Chile, Indonesia, Malaysia, Myanmar, Philippines, China, Saudi Arabia, South Korea, Oman,
Taiwan and Vietnam.
Mukka Proteins’ Financials
Mukka Proteins has seen a steady increase in net profit and revenue. The company has registered a revenue of Rs 609.95 crore in FY 21. This increased to Rs 776.15 crore in FY 22 and to Rs 1,183.80 crore in FY 23. On the other hand, the company’s net profit was Rs 11.01 crore in FY21, which increased to Rs 25.82 crore in FY22 and Rs 47.53 crore in FY23. In the
In the first 6 months of FY 24, the company achieved revenue of Rs 612.88 crore and a net profit of Rs 32.98 crore.
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