Mukka proteins IPO has concluded with a robust response from investors, closing at 137 times subscription on the final day of investment. The IPO, which opened for investment on february 29, 2024, has witnessed overwhelming participation across all investor categories - institutional, non-institutional, and retail.

Data from BSE reveals that institutional investors oversubscribed the category by 189.28 times, with 3,02,85,210 shares applied for against the reserved 16,00,435 shares. Non-institutional investors subscribed the category by 250 times, where applications were received for 3,00,46,14,570 shares against the reserved 1,20,00,000 shares. Retail investors also showed significant interest, oversubscribing the category by 58.5 times. The reserved 2,80,00,000 shares received applications for a total of 1,63,84,93,140 shares.


In total, Mukka proteins offered 5,60,00,435 shares through the IPO, and applications were received for a staggering 7,67,16,38,920 shares, leading to an overall oversubscription of 136.99 times.


The IPO, with a price band of Rs 26 to Rs 28 on a face value share of Re 1, allowed investors to apply for one lot of 535 shares and in multiples of lots thereafter. Mukka proteins successfully raised Rs 224 crore through this IPO. Share allotment is scheduled for march 5, 2024, and investors will be refunded on march 6. The credited shares will be available in investors' demat accounts on the same day, and the IPO is slated for listing on the stock exchange on march 7.


Mukka proteins Limited is engaged in the manufacturing of fish protein products and fish oil, exporting its offerings to several countries, including Bahrain, Bangladesh, Indonesia, Malaysia, China, Saudi Arabia, Oman, and Taiwan. As of september 30, 2023, the company reported a revenue of Rs 606.39 crore and a profit of Rs 32.98 crore for the half-year period. The company had previously raised Rs 67.20 crore through anchor investors. The IPO is currently trading at a premium of Rs 35 in the gray market, indicating a potential listing at a premium of 125 percent.

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