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Business News/ Markets / Ipo/  Mukka Proteins IPO fully booked on day 1, retail portion sees huge demand. Check GMP, subscription status, more.
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Mukka Proteins IPO fully booked on day 1, retail portion sees huge demand. Check GMP, subscription status, more.

Mukka Proteins IPO subscription status: Mukka Proteins manufactures and sells fish products for aqua feed, poultry feed, and pet food. IPO price band is ₹26-28 per share. Retail portion fully subscribed within 2 hours of opening.

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

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

On day 1, Mukka Proteins IPO retail investors portion has been subscribed 3.70 times, Non Institutional Investors (NII) portion is booked 1.55 times, and Qualified Institutional Buyers (QIB) portion is booked 1.01 times.

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

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Mukka Proteins IPO opens for subscription today (Thursday, February 29), and will close on Monday, March 4. Mukka Proteins IPO raised 67.20 crores from anchor investors on Wednesday, February 28.

Mukka Proteins IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.

Mukka Proteins IPO details.
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Mukka Proteins IPO details.

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 13,84,79,400 shares against 5,60,00,435 shares on offer,  according to data from the BSE.

Mukka Proteins IPO retail investors' portion received bids for 10,36,55,715 shares against 2,80,00,000 shares on offer for this segment.

Mukka Proteins IPO's non-institutional investors' portion received bids for 1,86,14,255 shares against 1,20,00,000 on offer for this segment.

Mukka Proteins IPO's QIBs portion have received 1,62,09,430 shares against 1,60,00,435 shares on offer for this segment.

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

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. This is a completely a fresh issue, and 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, to fund its working capital requirements, and funding 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.

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

Mukka Proteins IPO GMP price today

Mukka Proteins IPO GMP or grey market premium is +15. This indicates Mukka Proteins share price were trading at a premium of 15 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 was indicated at 43 apiece, which is 53.57% higher than the IPO price of 28.

Based on last 24 sessions grey market activities, today IPO GMP trending upward and expects a strong listing. The lowest GMP is 0, while the highest GMP is 17, as per investorgain.com analysts.

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

Also Read: Mukka Proteins IPO: Price band set at 26-28 apiece, check issue size, key dates, more

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: 29 Feb 2024, 12:17 PM IST
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