Mukka Proteins IPO Soars with Positive Momentum and Powerful Investment Opportunities

news-factory24.com

1 year ago

To find out if you got shares in the Mukka Proteins IPO, learn how to check the allotment status. The Grey Market Premium (GMP) rises significantly after a huge number of subscriptions.

Mukka Proteins IPO share allocation is expected to be completed today, Tuesday, March 5. Investors who applied for shares can check their status on the registrar’s portal, Cameo Corporate Services Limited, and also on the BSE website.

Mukka Proteins IPO share allocation is expected to be done today, Tuesday, March 5. Investors who applied for shares can check their status on the Cameo Corporate Services Limited website and also on the BSE website.

The Mukka Proteins IPO will start trading on both the BSE and NSE, and it’s expected to begin on Thursday, March 7, 2024.

The shares will be added to the Demat account of the people who got them on March 6. Also, the refund process will start tomorrow as soon as the allotment is finished today.

The IPO was open for people to apply from February 29 to March 4, with shares priced between ₹26 and ₹28. In these three days, a lot of people wanted to buy shares – it was 136.99 times oversubscribed. People bid for 767.16 crore shares, while only 5.6 crore shares were available. The part for Non-Institutional Investors (NII) got the most bids, being oversubscribed 250.39 times, and the parts for Qualified Institutional Buyers (QIB) and retail investors were oversubscribed 189.28 and 58.52 times, respectively.

Mukka ipo details

Mukka Proteins’ IPO is worth ₹224 crore and includes 8,00,00,000 new shares with a face value of Re 1 each. There are no shares from existing shareholders for sale.

The company plans to use the money it gets from selling shares, as explained in the red herring prospectus (RHP), for these purposes: general business needs, investing in their associate company, Ento Proteins Private Limited, and covering their everyday expenses.

Mukka Proteins Ltd makes and sells fish meal, fish oil, and fish paste. These are important for making food for fish, prawns, chickens (for meat and eggs), and pets (like dogs and cats).

According to the company’s RHP, its similar companies in the stock market are Avanti Feeds Ltd (with a P/E of 25), Godrej Agrovet Ltd (with a P/E of 33.23), Zeal Aqua Ltd (with a P/E of 20.63), and Waterbase Ltd.

From March 31, 2022, to March 31, 2023, Mukka Proteins Limited’s profit after tax (PAT) increased by 84.07%, and revenue went up by 52.52%.

he Mukka Proteins IPO Grey Market Premium (GMP) is +35, showing that the share price in the unofficial market is ₹35 more than the official IPO price. With this premium, the expected listing price for Mukka Proteins is estimated to be ₹63 per share, which is 125% higher than the IPO price of ₹28.

The Grey Market Premium (GMP) stayed the same as yesterday, but it increased from ₹25 on March 3rd.