Mukka Proteins Ready for Listing After Stellar IPO Subscription

Mukka Proteins, a major player in animal protein industry specially in fish meal, fish oil and fish soluble paste, completed IPO subscription on March 5, 2024. This action is a key step for the firm as it opens its doorstep. The IPO, which was open for subscription from February 29 – March 4, 2024, involves a fresh issue of equity shares to raise funds for working capital requirements and other general corporate purposes.

IPO Allotment and Subscription Particulars

The initial public offering of Mukka Proteins Limited, a much awaited IPO, with a price band of Rs 26 to Rs 28 per share was subscribed 136.99 times due to the overwhelming response from investors. This type of subscription attests to the healthy investor interest in Mukka Proteins' growth path and its fundamentals.

The company intends to mobilize Rs 224 crore by issuing 80,000,000 equity shares of face value of Rs 10 at a premium. The subscription data breakdown indicated lively demand from all categories, including qualified institutional buyers, non-institutional investors and retail investors.

How to Check IPO Allotment Status

Investors who have participated in the IPO can verify the status of their application through two primary channels: the websites of the Bombay Stock Exchange (BSE) and the registrars for the IPO, Cameo Corporate Services Limited. To facilitate an easy and accessible status check, the following steps can be followed:

On the BSE Website:

Visit the direct link: https://www.bseindia.com/investors/appli_check.aspx 

Select 'Equity' under the 'Issue Type'.

Choose 'Mukka Proteins' from the drop-down menu under 'Issue Name'.

Input either the Application Number or the PAN number.

Complete the captcha verification and click on the 'Search' button to view the allotment status.

On the Cameo Corporate Services Website:

Navigate to https://ipo.cameoindia.com/ 

Select the Mukka Proteins IPO from the list.

Enter the PAN, Application number, or Demat account details.

After entering the captcha, click on 'Submit' to access the application status.

Investment Highlights and Market Debut

The success of Mukka Proteins' IPO is indicative of the company's strong position in the market and its robust business model, which focuses on producing essential components for the aqua feed, poultry feed, and pet food industries. With a significant portion of the proceeds aimed at bolstering the company's working capital and supporting its general corporate endeavors, Mukka Proteins is poised for continued growth and expansion.

The listing of Mukka Proteins' shares on the BSE and NSE is scheduled for March 7, 2024, a development that is highly anticipated by the investing community. The strong subscription rates, alongside a favorable grey market premium (GMP) of Rs 35, suggest a positive market sentiment towards the company. This GMP indicates a potential listing price significantly higher than the IPO price, offering a promising outlook for early investors.