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Mukka Proteins IPO

Mukka Proteins, headquartered in Gujarat, is set come up with an IPO through issuance of equity shares worth Rs. 8 crores...

  • Status: Closed
  • RHP:
  • ₹ 13,910 / 535 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    07 Mar 2024

  • Listing Price

    ₹44.00

  • Listing Change

    57.14%

  • Last Traded Price

    ₹40.75

IPO Details

  • Open Date

    29 Feb 2024

  • Close Date

    04 Mar 2024

  • IPO Price Range

    ₹ 26 to ₹ 28

  • IPO Size

    ₹ 224 Cr

  • Listing Exchange

    BSE, NSE

  • Listing Date

    07 Mar 2024

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IPO Timeline

Mukka Proteins IPO Subscription Status

Last Updated: 15 March 2024 10:27 AM by rahul_raskar

Mukka Proteins Limited IPO is set to open from 29th February to 4th March 2024. The company is an animal-based protein producer. The IPO includes a fresh issue of 80,000,000 shares worth ₹224 cr. The share allotment date is 5th March 2024, and the IPO will be listed on 7th March 2024 on the stock exchanges. The price band is set at ₹26 to ₹28 and the lot size is 535 shares.   

Fedex Securities Private Limited is the book-running lead manager for this IPO, while Cameo Corporate Services Limited is the registrar. 
 

Objective of Mukka Proteins IPO:

●    To fund working capital requirements
●    To fund working capital requirements via investment in its Associate, viz. Ento Proteins Private Limited
●    General Corporate Purpose

Mukka Proteins IPO Video:

 

Mukka Proteins Limited 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.
The group has set up modern Fishmeal manufacturing units across the strategically important coastlines with 9 (Nine) Fishmeal plants spread across 3 (Three) in Karnataka, 4 (Four) in Gujarat and 2 (Two) in Oman. Each unit has dedicated in house laboratory and EIA approved technologists for quality control management.
The company has entered in to a Joint Venture Agreement dated September 13, 2021 between Ento Proteins Private Limited (EPPL) and Holocene Ecosolutions Private Limited (HEPL) (a part of Sakku Group based in Guntur, Andhra Pradesh, one of the largest producers of BSF eggs in India. It is projected that the insect meal industry is set to take off in the next decade and the volumes could increase from present 10000 MT to 500000 MT by 2030.
The Company aims to expand its Fish Meal and Fish Oil business across the globe, as well as diversify into Insect meal production to emerge as the world’s most diversified animal protein producer.
The firm has decades old long standing business relationship with all the major aquafeed giants all across the world, especially Hongkong, Vietnam, Taiwan, Bangladesh, Malaysia, Denmark, Chile, USA, Oman, Turkey etc, in addition to the largest domestic market leaders in Indian Aquaculture industry. Some of our marque clients include CP Aqua, Avanti feeds, GC Luckmate, Skretting, Grobest to name a few.

For More Information:
Webstory on Mukka Proteins IPO

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23Q3 FY22 FY21
Revenue 1177.12 770.50 603.83
EBITDA 94.1 54.24 31.82
PAT 47.52 25.82 11.01
Particulars (in Rs. Crores) FY23Q3 FY22 FY21
Total Assets 575.16 392.29 353.93
Share Capital 22.00 22.00 5.50
Total Borrowings 419.31 289.22 284.87
Particulars (in Rs. Crores) FY23Q3 FY22 FY21
Net cash generated from / (used in) operating activities -54.39 4.81 5.95
Net cash from / (used in) investing activities -5.25 -12.28 -13.61
Net cash flow from / (used in) financing activities 74.66 15.86 9.32
Net increase (decrease) in cash and cash equivalents 15.01 8.38 1.66


Strengths

1.    It is a leading manufacturer and exporter of Fish Protein products.
2.    The company has long-established relationships with key customers. 
3.    Operates in an industry with high entry barriers. 
4.    It has strong and consistent financial performance.
5.    The company has a great focus on Quality, Environment, Health and Safety (QEHS).
6.    Skilled and experienced management team with industry experience.
 

Risks

1.    A significant majority of our revenues from operations are derived from a limited number of customers.
2.    It also generates a majority of our revenue through the sale of fishmeal in India, China, Vietnam and Japan. 
3.    The company is subject to exchange rate fluctuations.
4.    Some Group Companies have incurred losses in the previous financial years. 
5.    It has experienced negative cash flows in the past. 
 

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FAQs

Mukka Proteins IPO opens from 29th February to 4th March 2024.

Mukka Proteins IPO size is ₹224 cr. 

To apply for Mukka Proteins IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the Mukka Proteins IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    
You will receive a mandate notification to block funds in your UPI app.

The price band of Mukka Proteins IPO is set at ₹26 to ₹28 per share.

The minimum lot size of Mukka Proteins IPO is 535 shares and the minimum investment required to apply for the IPO is ₹13,910.

The share allotment date of Mukka Proteins IPO is 5th March 2024.

Mukka Proteins IPO will be listed on 7th March 2024.

Finshore Management Services Limited is the book running lead managers to Mukka Proteins IPO.

Mukka Proteins will use proceeds for:

●    To fund the working capital requirements 
●    To fund working capital requirements by investing in the Associate, viz. Ento Proteins Private Limited.
●    General Corporate Purposes.