Mukka Proteins share price makes a stellar debut, stock opens with 43% premium at ₹40 apiece on NSE

Mukka Proteins share price made a positive debut on the bourses today. On NSE, Mukka Proteins share price opened at ₹40 per share, 42.86% higher than the issue price of ₹28. On BSE, Mukka Proteins share price today opened at ₹44 apiece, up 57.14% than the issue price.

Experts anticipated Mukka Proteins share price to list in the range of ₹60 to ₹66 per share range.

Also Read: Mukka Proteins IPO listing date today. GMP, experts see over 100% listing gain for allottees

Mukka Proteins IPO received huge demand from investors all through the three days. Mukka Proteins IPO subscription status was 136.99 times, as per BSE data. The retail investors portion was subscribed 58.52 times, Non Institutional Investors (NII) portion was booked 250.38 times, and Qualified Institutional Buyers (QIB) portion was booked 189.28 times.

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

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

It 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.

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

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 was fixed in the range of ₹26 to ₹28 per equity share of the face value of Re 1. Mukka Proteins IPO lot size was 535 equity shares and in multiples of 535 equity shares thereafter.

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.

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

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, 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 31 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 listing tomorrow: Here's what latest GMP, subscription status hint ahead of listing

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.