Mukka Proteins IPO will open for subscription from 29 February 2024. The company aims for an issue size of ₹224 Cr through this IPO.
Company Overview
| Full name | Mukka Proteins Limited |
| Sector | Fast Moving Consumer Goods |
| Industry | Consumer Food |
| Company Website | https://www.mukkaproteins.com/ |
About Company
Mukka Proteins operates as a producer of fish protein items. The company is involved in the production and distribution of fish meal, fish oil, and fish-soluble paste. These products serve as vital components in the creation of aqua feed (for fish and shrimp), poultry feed (for broiler and layer), and pet food (for dogs and cats). The corporation ships its products to more than 10 countries, which encompass Bahrain, Bangladesh, Chile, Indonesia, Malaysia, Myanmar, the Philippines, China, Saudi Arabia, South Korea, Oman, Taiwan, and Vietnam. As of 31 March 2023, the company’s workforce consists of 385 individuals from diverse departments, spanning skilled and unskilled labor, administration, management, and operations.
At present, Mukka Proteins manages six manufacturing units, with four situated in India and two owned by its Foreign Subsidiary, Ocean Aquatic Proteins LLC, positioned in Oman. Furthermore, the company runs three blending facilities and five storage facilities, all of which are based in India. All these establishments are strategically positioned close to the coastline. As of 31 December 2022, Mukka Proteins has an annualized combined manufacturing capacity of 115,050 metric tonnes per annum (MTPA) for fish meal, 16,950 MTPA for fish oil, and 20,340 MTPA for fish soluble paste.
The Objectives of the Issue
- Funding working capital requirements of the Company;
- Investment in the Associate, viz. Ento Proteins Private Limited, for funding its working capital requirements; and
- General Corporate Purposes.
Mukka Proteins IPO Timetable
| IPO Opening date | 29 February 2024 |
| IPO Closing | 04 March 2024 |
| Basis of Allotment | 05 March 2024 |
| Initiation Refund | 06 March 2024 |
| Credit to Demat Account | 06 March 2024 |
| Listing Date | 07 March 2024 |
Mukka Proteins IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹224 Cr – 80,000,000 shares |
| Fresh Issue | ₹224 Cr – 80,000,000 shares |
| Offer for sale | Nil |
| Face value | ₹01 per share |
| Price Band | ₹26 to ₹28 per share |
| Lot size | 535 Shares |
| Shareholding pre-issue | 220,000,000 |
| Shareholding post-issue | 300,000,000 |
| Listing Exchange | BSE & NSE |
Mukka Proteins IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 535 | ₹14,980 |
| Retail (Max) | 13 | 6955 | ₹194,740 |
| S-HNI (Min) | 14 | 7,490 | ₹209,720 |
| S-HNI (Max) | 66 | 35,310 | ₹988,680 |
| B-HNI (Min) | 67 | 35,845 | ₹1,003,660 |
Mukka Proteins IPO Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Mukka Proteins Financial Performance
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | H1 FY 2024 | |
| Revenue | 549.25 | 603.83 | 770.50 | 1,177.12 | 606.04 |
| Expenses | 537.01 | 598.32 | 741.18 | 1,119.32 | 569.89 |
| Net income | 13.57 | 11.01 | 25.82 | 47.53 | 32.98 |
| Margin (%) | 2.47 | 1.82 | 3.35 | 4.04 | 5.44 |
Mukka Proteins IPO Valuations & Margins
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | |
| EPS | 0.60 | 0.41 | 1.10 | 2.00 |
| PE ratio | – | – | – | 13.0 – 14.0 |
| RONW (%) | 23.40 | 13.91 | 27.75 | 34.19 |
| NAV | 2.56 | 2.93 | 3.97 | 5.86 |
| ROCE (%) | 9.65 | 5.86 | 13.86 | 17.62 |
| EBITDA (%) | 5.76 | 5.27 | 7.04 | 8.01 |
| Debt/Equity | 2.45 | 2.31 | 1.68 | 1.64 |
Company Promoters
- Kalandan Mohammed Haris
- Kalandan Mohammad Arif
- Kalandan Mohammed Althaf.
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding |
Mukka Proteins IPO Lead Manager(s)
FEDEX SECURITIES PRIVATE LIMITED
B 7, 3rd Floor, Jay Chambers, Dayaldas Road,
Vile Parle – [East], Mumbai – 400 057, Maharashtra
Phone: +91 81049 85249
Email: mb@fedsec.in
Website: www.fedsec.in
Mukka Proteins Registrar
CAMEO CORPORATE SERVICES LIMITED
Subramanian Building, 5th Floor, No. 01, Club House Road,
Mount Road, Chennai – 600 002, Tamil Nadu
Phone: +91-44-40020700
Email: investor@cameoindia.com
Website: www.cameoindia.com
Company Contact Details
MUKKA PROTEINS LIMITED
Mukka Corporate House, Door No. 18-2-16/4,
First Cross, NG Road, Attavara, Dakshina Kannada,
Mangaluru 575001, Karnataka
Phone: +918244252889
Email: cs@mukkaproteins.com
Website: www.mukkaproteins.com
Mukka Proteins IPO Allotment Status
Mukka Proteins IPO allotment status will be available on Cameo Corporate Services’ website. Click on Cameo Corporate Services weblink to get allotment status.
Final thoughts
Mukka Proteins IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
