Mukka Proteins IPO
Mukka Proteins IPO — date, price band, lot size & details 2024
Mukka Proteins listed on 7 Mar 2024 at ₹40, 42.9% above the ₹28 issue price.
Mukka Proteins makes fish meal, fish oil and fish soluble paste used in aqua feed, poultry feed and pet food, and exports to several countries. Its total income was Rs 1,183.80 crore in FY2023.
Stock price
Mukka Proteins is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 29 Feb 2024
- Close 04 Mar 2024
- Allotment 05 Mar 2024
- Refund/credit 06 Mar 2024
- Listing 07 Mar 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 29 Feb to 4 Mar, 2024 |
|---|---|
| Price Band | ₹26 – ₹28 |
| Face Value | ₹1 |
| Lot Size | 535 Shares |
| Issue Size | ₹224 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | Cameo Corporate Services Limited |
| Min Investment | ₹ 14,980 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 535 shares at the ₹28 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 535 | ₹14,980 |
| Retail (max) | 13 | 6,955 | ₹1,94,740 |
| S-HNI (min) | 14 | 7,490 | ₹2,09,720 |
| S-HNI (max) | 66 | 35,310 | ₹9,88,680 |
| B-HNI (min) | 67 | 35,845 | ₹10,03,660 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 609.95 crore in FY2021 to Rs 1,183.80 crore in FY2023.
- 02Profit after tax rose from Rs 11.01 crore in FY2021 to Rs 47.53 crore in FY2023.
- 03The pre-issue P/E was 12.96 at the upper band of Rs 28, based on EPS of Rs 2.16.
- 04The whole Rs 224 crore issue was fresh capital, mostly for working capital.
- 05Profit after tax was Rs 32.98 crore in the six months to 30 September 2023.
Risks · 5
- 01Total borrowing rose from Rs 159.19 crore on 31 March 2021 to Rs 317.73 crore on 30 September 2023.
- 02Margins are thin, and the source puts the PAT margin at 4.04%.
- 03Fish supply depends on catches, fishing bans and weather, which can swing volumes and prices, as income rose from Rs 776.15 crore in FY2022.
- 04Export sales add currency and trade risk, and the source puts debt to equity at 1.64.
- 05Promoters and the promoter group held 99.99% before the issue and 73.33% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Mukka Proteins offer document.
| Metric | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 641.18 | 575.16 | 392.30 | 353.93 |
| Total Income | 612.88 | 1,183.80 | 776.15 | 609.95 |
| Profit After Tax | 32.98 | 47.53 | 25.82 | 11.01 |
| NET Worth | 159.11 | 128.92 | 87.25 | 64.54 |
| Total Borrowing | 317.73 | 254.83 | 173.50 | 159.19 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Mukka Proteins RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Mukka Proteins IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹2.16 | ₹2.20 |
| P/E Ratio (x) | 12.96 | 12.73 |
| Market Cap at Offer Price (₹ Cr) | ₹427.52 | ₹419.75 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹28 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹185.81 Cr of the issue is earmarked to named objects.
Mukka Proteins IPO Anchor Investors
6 anchor investors across 4 fund houses committed ₹67.20 Cr a day before the issue opened.
| Anchor Investor | Fund House | Shares | Amount (₹ Cr) | % of Anchor Book |
|---|---|---|---|---|
| Craft Emerging Market Fund Pcc - Elite Capital Fund | Craft Emerging Market Fund Pcc | 3,571,660 | 10.00 | 14.88% |
| Elara India Opportunities Fund | - | 3,571,660 | 10.00 | 14.88% |
| Eminence Global Fund Pcc - Eubilia Capital Partners Fund I | Eminence Global | 3,929,040 | 11.00 | 16.37% |
| Saint Capital Fund | Saint Capital | 3,573,800 | 10.01 | 14.89% |
| Neomile Growth Fund - Series I | - | 5,781,745 | 16.19 | 24.09% |
| Zinnia Global Fund Pcc - Cell Dewcap Fund | - | 3,571,660 | 10.00 | 14.88% |
| Total anchor allocation | 67.20 | |||
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
These are key ingredients for aqua feed for fish and shrimp, poultry feed for broilers and layers, and pet food. It also has an associate, Ento Proteins.
It exports to countries such as Bahrain, Bangladesh, Chile, Indonesia, Malaysia, the Philippines, China, Saudi Arabia, South Korea, Oman, Taiwan and Vietnam. Its promoters are Kalandan Mohammed Haris, Kalandan Mohammad Arif and Kalandan Mohammed Althaf.
The IPO was Rs 224 crore and was entirely fresh issue. Rs 120.00 crore was planned for working capital and Rs 10.00 crore for its associate Ento Proteins.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Mukka Proteins IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Fedex Securities Pvt. Ltd
2 issues handled2 of their issues have listed so far, and 1 opened above the issue price (average +8.1%). That is too small a sample to read as a hit rate.
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Mukka Proteins?
The current Grey Market Premium is ₹30, or 107% over the issue price.
What is the Mukka Proteins IPO price band?
₹26 to ₹28, on a face value of ₹1.
When is the allotment?
The basis of allotment is 5 March 2024, with listing on 7 March 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Cameo Corporate Services Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
