Mukka Proteins Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | February 29, 2024 to March 4, 2024 |
| Listing Date | March 7, 2024 |
| Face Value | ₹ 1 per share |
| Price Band | ₹ 26 to ₹ 28 per share |
| Lot Size | 535 Shares |
| Total Issue Size | 8,00,00,000 shares (aggregating up to ₹ 224.00 Cr) |
| Fresh Issue | 8,00,00,000 shares (aggregating up to ₹ 224.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 22,00,00,000 |
| Share holding post issue | 30,00,00,000 |
About Mukka Proteins Limited IPO
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 Mukka Group has a rich legacy of around 5 decades in the Indian Marine Industry and is currently led by our Managing Director and CEO Mr. Kalandan Mohammed Haris. Mukka Group is one of the pioneers in the Fishmeal Industry having set up one of India’s first steam sterilised fishmeal plants. The management of Mukka Proteins Limited is committed to being the employer of choice, attracting and retaining the best of professionals.
By developing a structure, systems and workplace culture that provides challenging jobs, rewards performance and delivers opportunities continuously, the group is striving to get the best out of its most valuable asset - its people. Mukka Proteins IPO is a book-built issue of Rs 224.00 crores. The issue is entirely a fresh issue of 8 crore shares. Mukka Proteins IPO price band is set at ₹26 to ₹28 per share. The minimum lot size for an application is 535 Shares. Fedex Securities Pvt Ltd is the book running lead manager of the Mukka Proteins IPO, while Cameo Corporate Services Limited is the registrar for the issue.
Objectives of Mukka Proteins IPO
The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objectives:
- 1. Funding working capital requirements of the Company.
- 2. Investment in the associate, viz. Ento Proteins Private Limited, for funding its working capital requirements.
- 3. General Corporate Purposes.
Mukka Proteins IPO Review
MPL is a numero uno company in fish meals, fish oils and related allied products with 25-30% market share domestically. It also has good demand in global markets. The company has posted growth in its top and bottom lines for the reported periods. Based on FY24 annualized earnings, the issue appears reasonably priced. The company may attract first mover fancy post listing. Investors (who have no reservation for the segments) may lap it up for the medium to long term rewards.
Mukka Proteins Limited IPO Financial Information
Latest Revenue
612.88
₹ Crore
Profit After Tax
32.98
₹ Crore
Net Worth
159.11
₹ Crore
Total Borrowing
317.73
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2023 | 641.18 | 612.88 | 32.98 | 159.11 | 317.73 | ||||
| 31 Mar 2023 | 575.16 | 1,183.80 | 47.53 | 128.92 | 254.83 | ||||
| 31 Mar 2022 | 392.30 | 776.15 | 25.82 | 87.25 | 173.50 | ||||
| 31 Mar 2021 | 353.93 | 609.95 | 11.01 | 64.54 | 159.19 | ||||
| Amount in ₹ Crore | |||||||||
Mukka Proteins Limited Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 36.71% |
| ROCE | 17.62% |
| Debt/Equity | 1.64 |
| RoNW | 34.19% |
| P/BV | 4.78 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.16 | 2.2 |
| P/E (x) | 12.96 | 12.73 |
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Competitive Strengths
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Mukka Proteins Limited IPO Timeline
| IPO Open Date | Thursday, February 29, 2024 |
| IPO Close Date | Monday, March 4, 2024 |
| Basis of Allotment | Tuesday, March 5, 2024 |
| Initiation of Refunds | Wednesday, March 6, 2024 |
| Credit of Shares to Demat | Wednesday, March 6, 2024 |
| Listing Date | Thursday, March 7, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 4, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 535 | ₹14,980 |
| Retail (Max) | 13 | 6955 | ₹194,740 |
| S-HNI (Min) | 14 | 7,490 | ₹209,720 |
| S-HNI (Max) | 66 | 35,310 | ₹988,680 |
| B-HNI (Min) | 67 | 35,845 | ₹1,003,660 |