Mukka Proteins IPO subscribed 136.99 times on Day 3; check out allotment date, other details

Mukka Proteins IPO: Mukka Proteins launched its initial public offering (IPO) on Thursday, February 29. The issue will conclude on Monday, March 4.

Here are some important things to know about the Mukka Proteins IPO.

Mukka Proteins IPO subscription status

According to provisional exchange data, Mukka Proteins IPO's share sale received bids for 7,67,16,38,920 shares against 5,60,00,435 shares on offer, translating into a subscription of 136.99 times on Monday, the third day of the bidding process.

Mukka Proteins IPO price band

The company that manufactures fish meal, fish oil, and fish soluble paste has fixed a price band of Rs 26–28 apiece for its Rs 224 crore IPO.

The issue is entirely a fresh issue of up to 8 crore equity shares, aggregating to Rs 224 crore at the upper end of the price band, with no offer-for-sale (OFS) component, the Manguluru-based company said.

Mukka Proteins IPO Lot size

Investors can bid for a minimum of 535 equity shares and in multiples of 535 equity shares thereafter.

Mukka Proteins IPO allotment date

The basis of the allotment of shares under the IPO of Mukka Proteins is set to be finalised on March 5.

Mukka Proteins IPO listing date

Mukka Proteins stock is likely to be listed in the secondary market on March 7. The stock will be traded on the bourses, BSE and NSE.

Mukka Proteins IPO: Book-running lead managers

Fedex Securities is the sole book running lead manager of the Mukka Proteins IPO, while Cameo Corporate Services is the registrar.

What does Mukka Proteins do?

Mukka Proteins is one of the key players in India's fish protein sector.

Furthermore, fish oil has diverse applications, including the pharmaceutical industry (particularly in EPA-DHA extraction for nutraceuticals), soap making, leather treatment, and paint manufacturing.

Mukka Proteins distributes its products both domestically and internationally, serving over 10 countries such as Bahrain, Bangladesh, Chile, Indonesia, Malaysia, Myanmar, the Philippines, China, Saudi Arabia, South Korea, Oman, Taiwan, and Vietnam.

At present, the company has six manufacturing facilities, with two held through its foreign subsidiary, Ocean Aquatic Proteins LLC, based in Oman, and four situated in India.

Additionally, it operates five storage facilities and three blending facilities strategically located along the Indian coastline.

Also, the company plans to expand its manufacturing footprint through its associate, Ento Proteins Private Limited.

(with PTI inputs)

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