Retail traders can bid for a most of 13 heaps.
Mukka Proteins goals to lift Rs 224 crore by this IPO, issuing 8 crore new shares priced between Rs 26 to Rs 28 per fairness share at Re 1 face worth.
Mukka Proteins IPO, which opened on Thursday, has garnered vital consideration and assist from traders, signalling a promising begin for the corporate’s public providing. Notably, the unlisted shares of the IPO are producing appreciable buzz within the gray market, buying and selling at a premium of 100 per cent (Mukka Proteins IPO GMP). The subscription price for the IPO stood at a powerful 6.97 occasions inside the preliminary two days of the providing, with the deadline for bidding set for tomorrow, March 4. The firm had already secured Rs 67.20 crore from anchor traders on February 28.
Mukka Proteins is one in every of India’s largest fish meal and fish oil producers, with a big presence within the world market. The firm exports to over 15 international locations and specialises in producing fish meal, fish oil, and soluble paste- an integral part in aqua feed, poultry feed and pet meals manufacturing. Currently working six crops throughout the nation, Mukka Proteins has seen a considerable 53 per cent improve in income from operations throughout the monetary yr 2022-23. Moreover, its EBITDA witnessed development charges of twenty-two per cent and 40 per cent in FY22 and FY23, respectively.
The firm goals to lift Rs 224 crore by this IPO, issuing 8 crore new shares priced between Rs 26 to Rs 28 per fairness share at Re 1 face worth. With one lot comprising 535 fairness shares, retail traders can bid for a most of 13 heaps, requiring a minimal funding of Rs 14,980. The IPO distribution reserves greater than 50 per cent of shares for Qualified Institutional Buyers (QIBs), with 15 per cent allotted to non-institutional traders (NIIs) and 35 per cent for retail traders.
While Mukka Proteins IPO shares are commanding a premium within the GMP gray market, buying and selling at Rs 28 above the higher worth band, traders must train warning. Despite the optimistic indicators, there’s no assure that the IPO, regardless of its gray market premium, will essentially translate into itemizing income. Investors ought to stay vigilant and conduct thorough analysis earlier than making funding selections in IPOs.
