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Mukka Proteins Limited IPO Detail

Mukka Proteins Limited IPO Detail

Incorporated in March 2003, Mukka Proteins Limited manufactures fish protein products. The company produces and supplies fish meal, fish oil, and fish soluble paste, which are essential ingredients for the production of aqua feed (for fish and shrimp), poultry feed (for broilers and layers and pet food (for dog and cat food).
The company exports its products to over 10 countries, including Bahrain, Bangladesh, Chile, Indonesia, Malaysia, Myanmar, Philippines, China, Saudi Arabia, South Korea, Oman, Taiwan and Vietnam.
As of March 31, 2023, the company employed 385 people from various departments, including technical and support staff, administration, management, and operations.
The company currently operates six production facilities, four of which are in India and two in Oman, held by its foreign subsidiary Ocean Aquatic Proteins LLC. In addition, the company operates three blending plants and five storage facilities, all located in India. All of the company's facilities are strategically located near the coast.
The company is certified by NQA and UKAS Management Systems, with ISO 22000:2018 and ISO 9001:2015 standards.

As of December 31, 2022, the company has established contractual agreements with third party production facilities in Sasihithlu (Karnataka), Udupi (Karnataka), Taloja (Maharashtra) and Ratnagiri (Maharashtra) for the supply of fishmeal and fish oil.

Company Promoters

Kalandan Mohammed Haris, Kalandan Mohammad Arif and Kalandan Mohammed Althaf.

IPO Details

IPO Opening DateFeb 29, 2024
IPO Closing DateMar 04, 2024
Issue TypeBook Built Issue IPO
Face Value₹1 per equity share
IPO Price ₹26 - 28 per equity share
Market Lot535 Shares
Min Order Quantity535 Shares
Listing AtBSE, NSE
Issue Size₹224 Cr
Fresh Issue₹224 Cr
Offer for Sale-
Retail Portion 35%

IPO Subscription (Bidding Detail)

AS On QIB SHNI BHNI NII RII TOTAL
Day 1 1.01x - - 1.60x 4.07x 2.67x
Day 2 1.86x - - 6.26x 10.38x 7.07x
Day 3 189.28x - - 250.39x 58.52x 136.99x

IPO Tentative Timetable

The Mukka Proteins Limited IPO open date is Feb 29, 2024, and the close date is Mar 04, 2024. The issue may list on Mar 07, 2024.

IPO Open DateFeb 29, 2024
IPO Close DateMar 04, 2024
Basis of Allotment DateMar 05, 2024
Initiation of RefundsMar 06, 2024
Credit of Shares to Demat AccountMar 06, 2024
IPO Listing DateMar 07, 2024

IPO Lot Size

The Mukka Proteins Limited IPO market lot size is 535 shares. A retail-individual investor can apply for up to 13 lots (6955 shares or ₹194740).

ApplicationLotsSharesAmount (Cut-off)
Minimum1535₹14980
Maximum136955₹194740

IPO Promoter Holding

Pre Issue Share Holding100%
Post Issue Share Holding

Company Financials:

For the year/period ended (₹ in Cr.)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-21 353.93 609.95 11.01
31-Mar-22 392.30 776.15 25.82

Objects of the Issue:

The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:

  1. Funding working capital requirements of the Company;
  2. Investment in the Associate, viz. Ento Proteins Private Limited, for funding its working capital requirements; and
  3. General Corporate Purposes.

Mukka Proteins Limited IPO Registrar:

Cameo Corporate Services Limited

Mukka Proteins Limited IPO Lead Manager(s):

Fedex Securities Pvt Ltd

Company Contact Information:

Mukka Proteins Limited

Mukka Corporate House,

Door, No. 18-2-16/4, First Cross, NG Road, Attavar

Dakshina, Kannada, Mangaluru – 575 001