Mukka Proteins IPO is offering a total of 8,00,00,000 equity shares with a face value of Re 1. The IPO is valued at ₹224 crore. The shares are divided among different types of investors. Qualified institutional buyers (QIB) can get up to 50% of the shares, non-institutional investors (NII) can get at least 15%, and retail investors can get at least 35%. This IPO is only for new shares and there is no offer-for-sale component. The company plans to use the money raised from the IPO for various purposes mentioned in the red herring prospectus (RHP), such as general corporate needs, investment in their associate company, Ento Proteins Private Limited, and funding their working capital requirements.
The ones who founded the company are Kalandan Mohammed Althaf, Kalandan Mohammed Arif, and Kalandan Mohammed Haris. The company makes and sells things like fish meal, fish oil, and fish soluble paste. These things are important for making food for fish and prawns, as well as food for chickens and other animals. They also make products with fish protein. Fish oil is used in things like soap, leather, paint, and medicine. People are starting to like fish oil supplements because they are healthy and have lots of nutrients.
The company sends its products to more than ten countries, such as China, Saudi Arabia, South Korea, Oman, Taiwan, Vietnam, Bahrain, Bangladesh, Chile, Indonesia, Malaysia, Myanmar, Philippines, and Taiwan. They also sell their goods locally.
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Right now, the company has six production facilities. In India, there are four of them, and their foreign subsidiary, Ocean Aquatic Proteins LLC, which is based in Oman, owns two of them. Additionally, they have five storage facilities and three blending facilities in India.
From March 31, 2022, to March 31, 2023, Mukka Proteins Limited’s profit after tax (PAT) increased by 84.07%, and their revenue went up by 52.52%.
The company plans to finalize the basis of allotment of shares for Mukka Proteins IPO on Tuesday, March 5. They will start giving refunds on Wednesday, March 6, and the shares will be credited to the demat account of the people who received the allotment on the same day as the refund. Mukka Proteins share price is expected to be listed on BSE and NSE on Thursday, March 7.