Mukka Proteins IPO: Mangaluru-based fish protein product manufacturer Mukka Proteins Limited has launched its initial public offering (IPO) today, seeking to raise Rs 224.00 crore through a book-built issue. The IPO comprises an entirely fresh issue of 8 crore shares.

The IPO opens for subscription on February 29, 2024, and closes on March 4, 2024. The allotment for Mukka Proteins IPO is expected to be finalised on Tuesday, March 5, 2024. The company will be listed both on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) tentatively on March 7, 2024.

The price band for Mukka Proteins IPO is set at Rs 26 to Rs 28 per share. The minimum lot size for an application is 535 shares, requiring a minimum investment of Rs 14,980 for retail investors. Fedex Securities Pvt Ltd is the book running lead manager for the IPO, while Cameo Corporate Services Limited is the registrar for the issue.

The IPO offers 80,000,000 shares, with allocations as follows: 20.00 per cent to Qualified Institutional Buyers (QIBs), 15 per cent to Non-Institutiuonal Investors (NIIs), 35 per cent to retail individual investors (RIIs), and 30 per cent to anchor investors.

RIIs will receive a minimum of 535 shares, while super non-institutional investors (sNII) and big non-institutional investors (bNII) will receive minimum lots of 7,490 shares and 35,845 shares, respectively.

Mukka Proteins IPO GMP

The last Grey Market Premium (GMP) for Mukka Proteins IPO is Rs 15, as of February 29, 11:30 AM, according to Investor Gain. With an upper price band of Rs 28.00, the IPO's estimated listing price is Rs 43 (cap price + today's GMP), indicating a gain of 53.57 per cent.

Mukka Proteins Limited, incorporated in March 2003, specialises in manufacturing fish protein products. The company exports its products to over 10 countries and operates six production facilities, including four in India and two in Oman.