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  • Writer's pictureJatin Agarwal

Mukka Proteins IPO

Mukka Proteins IPO Review


Mukka Proteins logo

Company Overview

Mukka Proteins Limited, established in March 2003, is a leading manufacturer of fish protein products, including fish meal, fish oil, and fish soluble paste. These products are essential ingredients for aqua feed, poultry feed, and pet food industries. Mukka Proteins serves a global market, exporting to over 10 countries. The company operates six production facilities and is ISO 22000:2018 and ISO 9001:2015 certified.


Company Financials

Over the years, Mukka Proteins has shown significant growth in revenue and profit. For instance, from FY2020 to FY2023, its revenue increased from ₹554.29 crore to ₹1066.4 crore, with the profit after tax (PAT) growing from ₹13.57 crore to ₹39.42 crore, demonstrating robust financial health and operational efficiency.


Company SWOT Analysis

  • Strengths: Strong export presence, diversified product range, strategic location of production facilities near the coast, and robust quality certifications.

  • Weaknesses: High dependency on the volatile seafood industry and fluctuations in global market demand.

  • Opportunities: Expanding aquaculture industry and rising demand for fish protein products in emerging markets.

  • Threats: Environmental regulations and sustainability concerns regarding fishing practices.


IPO Overview

The Mukka Proteins IPO is scheduled from February 29, 2024, to March 4, 2024, aiming to raise ₹224 crore through a fresh issue of 80 million shares, with a price band of ₹26 to ₹28 per share.


IPO Details

  • IPO Date: February 29, 2024 - March 4, 2024

  • Listing Date: March 7, 2024

  • Price Band: ₹26 to ₹28 per share

  • Lot Size: 525 shares

  • Issue Size: 80,000,000 shares, aggregating up to ₹224.00 Cr

  • Listing At: BSE, NSE

  • Promoter Holding Pre-Issue: 100%

  • Promoter Holding Post-Issue: [Details to be announced]


Objectives of the Issue

The net proceeds are intended for funding working capital requirements, investment in associate company Ento Proteins Private Limited for its working capital needs, and for general corporate purposes.


IPO Grey Market Premium (GMP)

The grey market premium for Mukka Proteins IPO is around Rs.15 as on date of writing this article.


Conclusion

Mukka Proteins Limited presents a compelling investment opportunity, given its strong market position, financial performance, and growth prospects. However, investors should consider market conditions, the company's growth strategy, and potential risks.


Disclaimer: All information is provided for educational and informational purposes only. Data is fetched from publicly available sources such as the DRHP filed by the company and other reliable sources. Please consult a financial advisor or do your own analysis before investing/trading in the stock market.

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