Investors eagerly await the finalization of Mukka Proteins IPO allotment today, March 5. The IPO, open for subscription from February 29 to March 4, witnessed overwhelming demand from investors.
The IPO, priced in the range of ₹26-28 per share, received massive subscription, with the issue being oversubscribed by a staggering 136.99 times. This overwhelming response reflects investors’ confidence in Mukka Proteins’ growth prospects and business fundamentals.
📢 Exciting IPO Allotment Updates! 📊
Mukka Proteins IPO
💰 Total Bids: ₹21,464 Cr
📅 Allotment Date: 5 Mar '24
🎯 Chances of Allotment:
– Retail: 1 in 49
– SHNI: 1 in 223
– BHNI: 1 in 47📈 Total Applications:
– Retail: 2,591,666
– SHNI: 119,138
– BHNI:…— IPO India (@india_ipo) March 5, 2024
The IPO comprises a fresh issue of 8,00,00,000 equity shares with a face value of Re 1, totaling ₹224 crore. The net proceeds from the problem will be utilized for general corporate purposes, investment in their associate, Ento Proteins Private Limited, and working capital requirements, as stated in the red herring prospectus (RHP).
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Business of Mukka Proteins – Fish Meal, Oil, and Soluble Paste
Mukka Proteins, a manufacturer and seller of fish meal, fish oil, and fish soluble paste, serves industries such as aqua feed, poultry feed, and pet food. Its profit after tax (PAT) surged by 84.07 percent, while revenue jumped by 52.52 percent between March 31, 2022, and March 31, 2023.
Investors who applied for the IPO can check the allotment status on the registrar’s portal, Cameo Corporate Services Limited, and the BSE website. The shares are expected to be credited to the Demat account of the allottees on March 6.
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Mukka Proteins IPO Listing Date
The IPO is set to list on both BSE and NSE on Thursday, March 7, 2024. Mukka Proteins’ IPO grey market premium (GMP) currently stands at +35, indicating strong investor interest and willingness to pay a premium for the shares. With the estimated listing price at ₹63 apiece, which is 125 percent higher than the IPO price of ₹28, the IPO is poised for a strong debut on the stock exchanges.
Investors are advised to closely monitor the listing day dynamics and exercise caution while trading in the stock. The grey market premium indicates investors’ sentiment and readiness to pay more than the issue price, highlighting the anticipation surrounding Mukka Proteins’ listing.
As Mukka Proteins gears up for its stock market debut, market participants eagerly await the listing day to gauge the company’s performance and market response. With strong fundamentals and promising growth prospects, Mukka Proteins’ IPO is poised to make waves in the stock market, reflecting the buoyancy and dynamism of India’s IPO landscape.
