Mukka Proteins IPO closing today; Issue subscribed 31 times so far

4 Mar 2024 , 11:38 AM

Mukka Proteins IPO subscription opened on Feb 29, with March 4 as the last day for application. Click here to subscribe the IPO

At the time of writing, Response from investors has been decent, with the retail category oversubscribed by 24.50 times and the non-institutional quota by 88.25 times. The qualified institutional buyer (QIB) category, however, received minimal subscriptions at 2.43 times.

IPO allocation: 50% for QIBs, 15% for NIIs, and 35% for retail investors. Mukka Proteins manufactures components for aqua feed, poultry feed, and pet food.

IPO price band: ₹26 to ₹28 per equity share with a face value of ₹1. Lot size: 535 equity shares, multiples can be subscribed thereafter.

IPO worth ₹224 crore, comprising a fresh issue of 8,00,00,000 equity shares, without an offer-for-sale component. Net proceeds utilization: general corporate purposes, investment in Ento Proteins Private Limited, and working capital.

Promoter directors: Kalandan Mohammed Haris, Kalandan Mohammed Arif, and Kalandan Mohammed Althaf. Financial performance: Between March 31, 2022, and March 31, 2023, PAT increased by 84.07%, and revenue jumped by 52.52%.

For feedback and suggestions, write to us at [e-mail]