Business
Mukka Proteins IPO Receives Massive Response on Final Bidding Day
The final bidding day for the Mukka Proteins IPO, a company specializing in fish meal production, has garnered immense investor interest. Closing today, the IPO has seen remarkable subscription levels over the past few days.
Mukka Proteins IPO, listed on the BSE, witnessed a subscription status of 6.97 times on the second day of opening, following a 2.47 times subscription rate on day one. Notably, the IPO price band ranges from ₹26 to ₹28 per share.
The IPO allocates a significant portion of shares for different categories – not more than 50% for QIBs, at least 15% for NIIs, and a minimum of 35% for retail investors. Mukka Proteins aims to utilise the net proceeds for various business purposes, including investment in Ento Proteins Private Limited.
With the growing demand for fish-based products, Mukka Proteins Ltd has positioned itself as a key player in the market. The company’s financial performance has seen a robust growth of 39.3% CAGR in consolidated revenue from FY21 to FY23.
Comparing itself to listed peers like Avanti Feeds Ltd, Godrej Agrovet Ltd, Zeal Aqua Ltd, and Waterbase Ltd, Mukka Proteins presents a competitive edge with a strong presence and diverse product portfolio in the fish protein industry.
