Strong Debut! Mukka Proteins list at 57% premium to issue price

Shares of Mukka Proteins Ltd - which manufactures fish meal, fish oil, and fish soluble paste - made a strong debut on bourses on Thursday. Mukka Proteins shares debuted at Rs 44 on the BSE, a premium of 57.14 per cent over its issue price of Rs 28. 

Shares of the company on the National Stock Exchange (NSE), listed at Rs 40, a jump of 42.85 per cent.

The company's market valuation stood at Rs 1,147.20 crore.

The initial share sale of Mukka Proteins received 136.89 times subscription on the last day of bidding on Monday.

The Rs 224-crore Initial Public Offer (IPO) had a price band of Rs 26-28 a share.

Mukka Proteins is one of the key players in India's fish protein sector. Furthermore, fish oil has diverse applications, including pharmaceuticals (particularly in EPA-DHA extraction for nutraceuticals), soap making, leather treatment, and paint manufacturing.

The company distributes its products both domestically and internationally, serving various countries, including Bahrain, Bangladesh, Chile, Indonesia, Malaysia, Myanmar, the Philippines, China, Saudi Arabia, South Korea, Oman, Taiwan, and Vietnam.