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Home > IPO > Mukka Proteins Ltd IPO

₹ 14980 / 535 shares

IPO Details

RHP/DRHP

Issue Date

29 Feb - 4 Mar'24

Investment/lot

₹ 14980

Price Range

26 - 28

Lot Size

535

IPO Size

₹ 224.00 Cr

IPO Listing Details

Listing On

7 Mar'24

Issue Price

28

Listed Price

₹ 40

Retail Gain/Listing Gain

▲42.86%

Start date

29/02/2024

End date

04/03/2024

Allotment of bids

05/02/2024

Refund Initiation

06/02/2024

Listing on exchange

07/03/2024

IPO Timeline

Mukka Proteins is one of the key players in the Fish Protein industry in India and is also amongst the first few Indian companies to have commercialised insect meal and insect oil (collectively “Insect Protein”) as an ingredient for aqua feed, animal feed and pet food.

In Fiscal 2023, the company generated revenue of Rs. 10,663.98 million, contributing 25%-30% to the overall estimated revenue of the Indian fish meal and fish oil industry, which ranged from Rs. 32,000 million to Rs. 41,000 million during that period (Source: CRISIL Report).

Mukka Proteins Competitive Strengths

Leading manufacturer and exporter of fish protein products

Consistently being awarded by MPEDA, during the last 7 years for export performance, inter alia, including as an outstanding performance in the export of fish meal, fish oil and allied products for Fiscal 2021, Fiscal 2020 and Fiscal 2019 (Source: https://mpeda.gov.in/?page_id=557), the company believes that it is one of the key players of the Fish Protein industry in India.

Established customer base and strong relationships

The company has long-established relationships with key customers who are the major producers of aqua feed, poultry feed and pet food. The company believes that one of the key factors differentiating it from competitors is the quality of products and the customer-centric approach of offering products that meet customer specifications. This approach has helped the company not only grow the business, but also nurtured and expanded its market presence in the industry.

High entry barriers

Fish meal and fish oil contribute indirectly to human consumption as they are used as feed in aquaculture and livestock raising (Source: CRISIL Report). Accordingly, the company’s manufacturing facilities are subject to audit and inspection by various regulatory authorities and also by customers. Alongside these metrics, the company is subject to other processes that keep barriers high. This restricts the ability for new players to enter and thereby helps the company retain its position in the industry, ensuring consistent growth and profitability.

Risk Factors

  • The company is a party to a legal proceeding concerning an alleged violation of environmental norms.

  • The majority of revenue from operations is derived from a limited number of customers.

  • The company requires certain approvals and licenses in the ordinary course of business and is required to comply with certain rules and regulations to operate the business.

Key Strategies

  • Strengthening foothold in existing markets and expanding to new geographies.

  • Expanding presence in new protein sources.

  • Pursue strategic inorganic and organic growth opportunities.

Mukka Proteins Key Financials

Here are the key financials for Mukka Proteins Limited:

Particulars (in Rs. million)

Particulars (in Rs. million)

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Opening of account will not guarantee allotment of shares in IPO. Investors are requested to do their own due diligence before investing in any IPO.

Here are the steps to apply for Mukka Proteins Ltd IPO:

Step 1: Log in to your Kotak Securities Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.

Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.

Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.

Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.

Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.

Top Mukka Proteins Ltd IPO IPO FAQs

Mukka Proteins Ltd IPO will be allotted on 2024-02-07.

Mukka Proteins Ltd IPO will list on 2024-03-07.

224.00 is the issue size of Mukka Proteins Ltd IPO.

The minimum lot size is 535 shares and the investment required is ₹14980.

The price band of Mukka Proteins Ltd IPO is ₹26 to ₹28.

You can read more about Mukka Proteins Ltd IPO and its IPO from the company’s red herring prospectus (RHP) here.

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