The Initial Public Offering (IPO) of Mukka Proteins, a prominent player in the production of fish meal, fish oil, and fish soluble paste, has witnessed an overwhelming response from investors, closing at a subscription rate of 136.89 times on its final day, according to the Bombay Stock Exchange (BSE) data. The IPO, which opened on February 29 and closed on March 4, has captivated the interest of various investor segments, with the retail investors’ portion subscribed 58.36 times, Non-Institutional Investors (NII) at 250.26 times, and Qualified Institutional Buyers (QIB) at 189.28 times.
The escalating interest was evident from day one, with the IPO achieving a subscription rate of 2.47 times, showcasing strong demand across all investor categories. By the second day, the subscription status had risen to 6.97 times, with retail investors leading the charge.
Mukka Proteins aims to raise ₹224 crore through the issuance of 8,00,00,000 equity shares, each with a face value of Re 1, within a price band of ₹26 to ₹28 per share. The company has allocated not more than 50% of the shares for QIBs, at least 15% for NIIs, and a minimum of 35% for retail investors.
The funds raised from the IPO are earmarked for general corporate purposes, investment in associate Ento Proteins Private Limited, and to meet the company’s working capital requirements. The IPO’s success reflects investors’ confidence in Mukka Proteins’ business model and its pivotal role in the aqua feed, poultry feed, and pet food production sectors.
Cameo Corporate Services Limited serves as the registrar for the IPO, with Fedex Securities Pvt Ltd acting as the book running lead manager. The enthusiastic participation from investors underscores the market’s positive outlook towards Mukka Proteins and its growth trajectory in the industry.
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