Mukka Proteins IPO allotment: Know how to check allotment status; GMP jumps after massive subscription

Mukka Proteins IPO allotment: Mukka Proteins IPO share allotment is likely to be finalised today (Tuesday, March 5). The investors who applied for the issue can check the Mukka Proteins IPO allotment status on its registrar's portal, Cameo Corporate Services Limited as well as on BSE.

Mukka Proteins IPO will list on BSE and NSE with a tentative listing date fixed as Thursday, March 7, 2024.

Also Read: Mukka Proteins IPO listing tomorrow: Here's what latest GMP, subscription status hint ahead of listing

The shares will be credited to the Demat account of the allottees on March 6. Meanwhile, The refund process will also commence tomorrow as soon as the allotment is finalised today.

The IPO opened for subscription between February 29 and March 4 at a price band in the range of ₹26-28. The issue witnessed massive subscription in the 3 days of bidding and was subscribed 136.99 times. It received bids for 767.16 crore shares as against 5.6 crore shares on offer. The NII portion was subscribed the most, 250.39 times while the QIB and retail investor category was bid 189.28 and 58.52 times, respectively.

Read here: Mukka Proteins IPO: 10 key risks from RHP to consider before investing

Here's how to check allotment

On Registrar Website

1) Go to the Registrar's website - https://ipo.cameoindia.com/

2) Click on ‘Company Selection’ and then select the IPO name.

3) Now, enter your PAN, application number, DP / Client ID, or account number / IFSC.

4) Click on ‘Search’.

You can also check your allotment status on BSE. Here's how

1) Go to the BSE website - https://www.bseindia.com/investors/appli_check.aspx

2) Select ‘Equity’ and then from the dropdown, select the issue name.

3) Enter your application number and PAN card number.

4) Click on the "Search" button.

The status will only appear after allotment if the details are entered correctly.

Mukka Proteins IPO Details

Mukka Proteins' ₹224 crore IPO comprises a fresh issue of 8,00,00,000 equity shares with a face value of Re 1. There is no offer-for-sale component.

Read here: Mukka Proteins IPO: Mangaluru-based firm raises ₹67.20 cr from anchor investors

The company intends to use the net proceeds from the issue, as stated in the red herring prospectus (RHP), to fund the following: general corporate purposes, investment in their associate, Ento Proteins Private Limited, and the company's working capital requirements.

Mukka Proteins Ltd manufactures and sells fish meal, fish oil, and fish soluble paste, which are necessary components in the production of aqua feed (for fish and prawns), poultry feed (for grill and layer), and pet food (dog and cat chow).

As per the company's RHP, its listed peers 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.

Between March 31, 2022, and March 31, 2023, Mukka Proteins Limited's profit after tax (PAT) scaled by 84.07 percent, while revenue jumped by 52.52 percent.

Read here: Mukka Proteins IPO opens today: Here's what you need to know before investing

Mukka Proteins IPO GMP today

Mukka Proteins IPO GMP or grey market premium is +35. This indicates Mukka Proteins' share price was trading at a premium of ₹35 in the grey market. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Mukka Proteins share price is indicated at ₹63 apiece, which is 125 percent higher than the IPO price of ₹28.

The GMP was the same as in the previous session. However, it rose from ₹25 on March 3.

'Grey market premium' indicates investors' readiness to pay more than the issue price.