Mukka Proteins IPO: IPO Oversubscribed 137 Times, Signs of Huge Profits with Listing

Mukka Proteins IPO :   Mukka Proteins' IPO has closed with a strong response from investors. Monday was the last day to invest in the IPO. Mukka Proteins' IPO has closed with 137 times subscription due to massive investment from all three categories of institutional, non-institutional and retail investors. The IPO opened for investment on 29 February 2024.

According to data available on BSE, the institutional investor category has been oversubscribed by a total of 189.28 times. 16000435 shares were reserved for this category of investors and applications were received for a total of 3,02,85,210 shares. The non-institutional investor series has been subscribed 250 times. 1,20,00,000 shares were reserved for non-institutional investors and applications were received for a total of 3,00,46,14,570 shares. 2,80,00,000 shares were reserved for retail investors and applications were received for a total of 1,63,84,93,140 shares.

The retail investor series has been oversubscribed by a total of 58.5 times. A total of 5,60,00,435 shares were issued in the IPO of Mukka Proteins and applications were received for 7,67,16,38,920 shares and the IPO was oversubscribed 136.99 times.

Mukka Proteins' IPO was opened on February 29 and the last date for application was March 4, 2024. The company had set an IPO price band of Rs 26 to Rs 28 on a face value share of Rs 1. Investors can apply for a single lot of 535 shares and then multiple lots. Mukka Proteins raised Rs 224 crore through IPO. The share allotment basis will be decided today on 5 March 2024. Investors will get their money back on March 6 and shares will be credited to investors' demat accounts on March 6 only. The IPO will be listed on the stock exchange on March 7.

Mukka Proteins Limited manufactures fish protein products and fish oil. The company exports its products to many countries including Bahrain, Bangladesh, Indonesia, Malaysia, China, Saudi Arabia, Oman and Taiwan. For the half year ending September 30, 2023, the company's revenue stood at Rs. 606.39 crore and during this period the company made Rs. 32.98 crores profit has been made.

Mukka Proteins raised Rs. 67.20 crore has been collected. Mukka Proteins' IPO is trading at a premium of Rs 35 in the gray market. According to this IPO can be listed at a premium of 125 percent.