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

Mukka Proteins IPO listing date has been fixed for Thursday, March 7. Mukka Proteins IPO allotment has been finalised. Today (Wednesday, March 6), will see the crediting of shares to demat accounts for those who have been allocated shares. For those who have not received their shares, the refund process will also take place today.

Mukka Proteins IPO received blockbuster responses all three days of the subscription period. Mukka Proteins IPO subscription status was 136.99 times on the third day, as per BSE data.

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

Mukka Proteins IPO opened for subscription on Thursday, February 29, and closed on Monday, March 4. The price band was fixed in the range of ₹26 to ₹28 per equity share of the face value of Re 1, and lot size was 535 equity shares and in multiples of 535 equity shares thereafter.

It has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIBs), not less than 15% for Non-Institutional Investor (NIIs), and not less than 35% of the offer for retail investors.

Also Read: Mukka Proteins IPO last bidding day today: Issue booked 136.89 times so far led by NIIs, retail investors; Check GMP

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Let's check what does Mukka Proteins IPO GMP price today signal ahead of listing.

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, 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 ₹63 apiece, which is 125% higher than the IPO price of ₹28.

Based on last 30 sessions' grey market activities, today's IPO GMP expects a strong listing. The lowest GMP is ₹0, while the highest GMP is ₹35, as per investorgain.com analysts.

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

Also Read: Mukka Proteins IPO: Issue booked over 136.99 times, NIIs, retail investors steal the show; check latest GMP

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.

Three of the company's promoter directors, Kalandan Mohammed Haris, Kalandan Mohammed Arif, and Kalandan Mohammed Althaf, are actively involved in the business.

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

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%, while revenue jumped by 52.52%.

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

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