| IPO date | 29 Feb 2024 – 04 Mar 2024 |
| Listing date | 07 Mar 2024 |
| Price range | 26 – 28 |
| Minimum order quantity | 535 | (D)RHP | View |
What does Mukka Proteins do?
Incorporated in March 2003, Mukka Proteins Limited engages in the production and supply of fish protein products. The company’s offerings include fish meal, fish oil, and fish soluble paste, targeting the aqua feed, poultry feed, and pet food industries. Fish oil also finds applications in pharmaceuticals, soap manufacturing, leather tanneries, and paint industries.
Key aspects of the company include:
Global Presence: The company exports its products to more than ten countries, including Bahrain, Bangladesh, Chile, Indonesia, Malaysia, Myanmar, Philippines, China, Saudi Arabia, South Korea, Oman, Taiwan, and Vietnam.
Manufacturing Facilities: The company operates six manufacturing facilities (four in India and two in Oman through Ocean Aquatic Proteins LLC), along with three blending facilities and five storage facilities in India. These facilities are strategically located near coastlines for optimal raw material access.
Certifications: The entity is certified with ISO 22000:2018 and ISO 9001:2015 by NQA and UKAS Management Systems, reflecting compliance with established standards of quality and safety.
As of March 31, 2023, there are 385 individuals employed across various departments such as technical, support, administration, management, and operations.
What is the issue size of Mukka Proteins Limited IPO?
The public offering consists of a book-built issue amounting to Rs 225.00 crores. This issue comprises entirely fresh issuance of shares.
Financials of Mukka Proteins Limited IPO (₹ crores)
| Financial Year | Total Assets | Total Revenue | Profit After Tax | EBITDA | EPS |
| March 31, 2021 | 353.92 | 609.95 | 11.01 | 31.81 | 0.41 |
| March 31, 2022 | 392.29 | 776.14 | 25.81 | 54.23 | 1.10 |
Schedule/Timeline of Mukka Proteins Limited IPO
| Issue Period | 29th February to 4th March 2024 |
| Deadline for accepting UPI mandate | Until 5 PM on the issue closing day |
| Finalization of Allotment | March 05, 2024 |
| Initiation of Refunds | March 06, 2024 |
| Credit of Shares | March 06, 2024 |
| Date of Listing | March 07, 2024 |
| Mandate end date | March 19, 2024 |
| Anchor Investors Lock-In End Date (50% of the investment) | April 05, 2024 |
| Anchor Investors Lock-In End Date (Remaining investment) | June 05, 2024 |
Note: Given that the above schedule is tentative, it should be noted that the anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares, and 90 days after for the remaining portion.
Risk factors to consider:
Regulatory Compliance Risks: The company faces risks if it fails to obtain, retain, or comply with necessary approvals, licenses, and regulations, potentially adversely affecting operations and business continuity.
Cash Flow Challenges: Negative cash flows from operating activities have been experienced and may occur in the future, potentially impacting the company’s financial stability and operational viability.
Environmental Legal Risks: Ongoing legal proceedings related to alleged environmental norm violations could negatively affect operations, particularly at the Mukka Manufacturing Facility.
How to apply to the Mukka Proteins Limited IPO?
You can apply for the Mukka Proteins Limited IPO using any supported UPI app by following two steps:
- Enter your bid on Kite
- Accept the UPI mandate on your phone
On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.
How to check the allotment status for the Mukka Proteins Limited IPO?
You can check the allotment status for the Mukka Proteins Limited IPO on the website of the Registrar and Transfer agent.