Mukka Proteins IPO GMP

Mukka Proteins IPO GMP: A strong gray market premium (GMP) is being observed before the listing of Mukka Proteins IPO in the market.

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Mukka Proteins IPO

Most analysts have recommended subscribing to the IPO based on proper valuation and a unique business model for the long term. At the upper price band, the company's valuation is at 17.7x P/E and post-equity issuance market capitalization is 840 crore rupees. Anand Rathi said, "We believe the company's valuation is fair and we recommend subscribing to the IPO - long term rating."

Mukka Proteins IPO GMP

According to Investor Gen's report, today shares of Mukka Proteins company are trading at a premium of 35 rupees, which means investors could earn a profit of 125 percent. Accordingly, the IPO listing could be at a premium of 63 rupees.

Mukka Proteins IPO Price

The price band for the offer is set at 26-28 rupees per equity share. With the IPO priced at the upper level of the price range, the company will raise 224 crore rupees. Investors can bid for a minimum of 535 equity shares and multiples thereafter. The Mukka Proteins IPO opened on February 29 and closed on March 4.

Mukka Proteins IPO Listing

The listing of Mukka Proteins IPO will be on March 7, 2024, on BSE and NSE. This issue was made through the book-building process, with 50% available for qualified institutional buyers, 15% for non-institutional investors, and 35% for retail investors.

Mukka Proteins IPO: Objective

The funds raised through the issue will be utilized for working capital requirements, investment in subsidiary, and for general corporate purposes along with financing working capital requirements.

About the Company

Mukka Proteins is one of the leading companies in the domestic and global markets for the production and marketing of fish meal, fish oil, and related products. The company sells its products at the domestic level and exports them to more than 10 countries including Bahrain, Bangladesh, and Chile.

Mukka Proteins Limited, is an animal protein company primarily engaged in the production of Fish Meal, Fish Oil and Fish Soluble Paste. #fishmeal #fishoil #fishsolublepaste #animalprotein #aquaculture #bluerevolution #indiaexports #fishexport #animalfeed #MukkaProteins pic.twitter.com/VkSg4j9Mp2
— Mukka Proteins Limited (@Mukka_Proteins) March 1, 2024

Mukka holds approximately 25-30% market share in India. In the financial year 2023, the company's revenue increased by 53% year-on-year (YoY) to 1,177 crore rupees, and net profit increased by more than 80% to 44 crore rupees. For the period ending September 2023, revenue was 612 crore rupees and profit was 32.3 crore rupees.

Fedex Securities is the sole book-running lead manager and Cameo Corporate Services is the registrar for the offer.

Disclaimer

The information provided on Sankalp Times is not investment advice. Before investing in the stock market, it is advisable to seek advice from a market expert.

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