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Business News/ Markets / Ipo/  Mukka Proteins IPO continues to see strong demand from retail investors, NIIs on Day 2; check GMP
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Mukka Proteins IPO continues to see strong demand from retail investors, NIIs on Day 2; check GMP

Mukka Proteins IPO opened on Feb 29 and closes on Mar 4. It raised ₹67.20 crore from anchor investors. The price band is ₹26-28 per share.

Mukka Proteins IPO opened for subscription on Thursday, February 29, and will close on Monday, March 4 (https://www.mukkaproteins.com/)Premium
Mukka Proteins IPO opened for subscription on Thursday, February 29, and will close on Monday, March 4 (https://www.mukkaproteins.com/)

Mukka Proteins IPO subscription status: Investor response to Mukka Proteins IPO remained overwhelmingly positive even on the second day. Mukka Proteins IPO subscription status was 6.97 times, as per data available on BSE.

On Day 2, the retail investors' portion has been booked 10.21 times, Non Institutional Investors' (NII) portion is subscribed 6.22 times, and Qualified Institutional Buyers' (QIB) portion is subscribed 1.86 times.

Also Read: Mukka Proteins IPO Day 2: Check GMP, subscription status, review, key dates, more. Should you subscribe or not?

With its retail portion being fully subscribed within the first two hours of opening, Mukka Proteins IPO had a solid start on its first day of opening. Mukka Proteins IPO subscription rate was 2.47 times on Day 1, as per BSE data.

On Day 1, Mukka Proteins IPO's retail investors' portion was subscribed 3.70 times, Non Institutional Investors' portion was booked 1.55 times, and Qualified Institutional Buyers' portion was booked 1.01 times.

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Mukka Proteins IPO details.
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Mukka Proteins IPO details.

Mukka Proteins IPO opened on Feb 29 and closes on Mar 4. It raised 67.20 crore from anchor investors.

Also Read: Mukka Proteins IPO fully booked on day 1, retail portion sees huge demand. Check GMP, subscription status, more.

It has reserved not more than 50% of the shares in the public issue for QIBs, not less than 15% for NIIs, and not less than 35% of the offer is reserved for retail investors.

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).

Mukka Proteins IPO price band has been fixed in the range of 26 to 28 per equity share of the face value of Re 1. Mukka Proteins IPO lot size is 535 equity shares and in multiples of 535 equity shares thereafter.

Mukka Proteins IPO subscription status

Mukka Proteins IPO has received bids for 39,03,95,920 shares against 5,60,00,435 shares on offer, according to data from the BSE.

The retail investors' portion received bids for 28,59,52,150 shares against 2,80,00,000 shares on offer for this segment.

The non-institutional investors' portion received bids for 7,46,13,775 shares against 1,20,00,000 on offer for this segment.

The QIB portion received bids for 2,98,29,995  shares against 1,60,00,435 shares on offer for this segment.

Also Read: Mukka Proteins IPO opens: GMP, issue details, 10 key things to know before investing to 224-crore issue

Mukka Proteins IPO details

Mukka Proteins IPO, which is worth 224 crore, 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.

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.

The registrar for the Mukka Proteins IPO is Cameo Corporate Services Limited, while the book running lead manager is Fedex Securities Pvt Ltd.

Mukka Proteins IPO GMP today

Mukka Proteins IPO GMP or grey market premium is +29. This indicates Mukka Proteins share price was trading at a premium of 29 in the grey market, according to investorgain.com.

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 57 apiece, which is 103.57% higher than the IPO price of 28.

Based on last 25 sessions' grey market activities, today's IPO GMP expects a strong listing. The lowest GMP is 0, while the highest GMP is 29, as per investorgain.com analysts.

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

Also Read: Mukka Proteins IPO: Mangaluru-based firm raises 67.20 crore from anchor investors ahead of IPO

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 01 Mar 2024, 01:57 PM IST
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