Mukka Proteins IPO Subscribed 2.47 Times on Day 1, Retail Portion Oversubscribed Quickly

Mukka Proteins Ltd witnessed a phenomenal response on the first day of its Initial Public Offering (IPO), with the subscription status standing at 2.47 times as of the latest update. The IPO opened for subscription on Thursday, February 29, and will continue till Monday, March 4.

The retail investors’ portion of the Mukka Proteins IPO was oversubscribed within the first two hours of opening, indicating strong demand from individual investors. Non Institutional Investors (NII) portion also saw significant interest, being subscribed 1.55 times, while the Qualified Institutional Buyers (QIB) portion was booked 1.01 times.

Mukka Proteins Ltd, a company specializing in the production of fish meal, fish oil, and fish soluble paste, essential components for aqua feed, poultry feed, and pet food, raised ₹67.20 crores from anchor investors just ahead of the IPO.

The IPO price band for Mukka Proteins has been set at ₹26 to ₹28 per equity share with a lot size of 535 equity shares and multiples thereafter. The issue size amounts to ₹224 crore, comprising a fresh issue of 8,00,00,000 equity shares.

The net proceeds from the IPO are intended to be used for general corporate purposes, funding the working capital requirements of the company, and investments in their associate, Ento Proteins Private Limited. The issue is being managed by Fedex Securities Pvt Ltd, with the registrar being Cameo Corporate Services Limited.

In the grey market, the Mukka Proteins IPO Grey Market Premium (GMP) stands at +15, reflecting a positive sentiment among investors. With the highly subscribed retail portion and overall strong demand, expectations are high for a solid listing when Mukka Proteins goes public.