Mukka Proteins IPO: Issue subscribed 22 times, HNI portion booked 58x on final day

1 month ago

Mukka Proteins IPO: Ahead of the IPO, the fish protein products manufacturer mobilised Rs 67.2 crore through its anchor book

March 04, 2024 / 11:28 AM IST

Mukka Proteins IPO

Mukka Proteins IPO: The company aims to raise Rs 224 crore through a fresh issue of 8 crore shares

Fish protein products manufacturer Mukka Proteins’ IPO was subscribed 22.57 times by March 4 monring, the final day of bidding.

High net-worth individuals took the lead, subscribing 58.31 times their quota of shares. Retail investors picked 18.97 times the quota of shares and qualified institutional buyers 2.06 times their reserved portion.

Also Read: Mukka Proteins IPO: 10 things to know before you buy into Rs 224-cr issue

The company is looking to raise Rs 224 crore through a fresh issue of 8 crore shares at a price band of Rs 26-28 a share.

The company will spend Rs 120 crore of the proceeds for to meet its working capital requirements and Rs 10 crore for investment in the associate company, Ento Proteins. The remaining funds will be used for general corporate purposes.

Fifty percent of the book-build issues has been set aside for qualified institutional buyers, 15 percent for non-institutional investors and 35 percent for retail investors.

Ahead of the IPO, the fish protein products company mobilised Rs 67.2 crore through its anchor book. Six marquee investors including Neomile Growth Fund, Saint Capital Fund, Eminence Global Fund, and Elara India Opportunities Fund participated in the anchor book.

Also Read: Mukka Proteins IPO | Institutional investors pick Rs 67 crore worth shares via anchor book

With six facilities, Mukka Proteins supplies fish meal, fish oil and fish soluble paste, an essential ingredient in the manufacturing of aqua feed (for fish and shrimp), poultry feed (for broiler and layer) and pet food (dog and cat food). The company operates its business through six manufacturing facilities, of which four are in India and two in Oman. Further, it operates three blending facilities and five storage facilities in India.

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