In the pre-opening session, Mukka Proteins shares settled at Rs 44 on the BSE, with a premium of 57.14 percent to the issue price of Rs 28.
After an IPO issue, Shares of Mukka Proteins Ltd made a strong debut on the stock market on March 7. Mukka Proteins shares started at Rs 44 on the BSE, with a premium of 57.14 percent over its issue price of Rs 28.
Whereas On the NSE the stock was listed at Rs 40 with a premium of 42.86 per cent to the issue price.
During the initial share sale it received 136.89 times the subscription on the last day of bidding on 5th March 2024. The Rs 224 crore-Initial Public Offer (IPO) got bids for 7,66,57,65,155 shares against 5,60,00,435 shares on offer, reported Zee Business.
In the pre-opening session, Mukka Proteins shares settled at Rs 44 on the BSE, with a premium of 57.14 percent to the issue price of Rs 28.
Mukka Proteins on Wednesday raised a little over Rs 67 crore from anchor investors.
Of the total funds, Rs 10 crore will be used for investment in its associate, Ento Proteins, for funding its working capital requirements and Rs 120 crore will be used towards working capital requirements and a portion will be used for general corporate purposes.
Mukka Proteins Business:
Mukka Proteins mainly deals in India’s fish protein sector, its fish oil operates in pharmaceuticals (particularly in EPA-DHA extraction for nutraceuticals), soap making, paint manufacturing and leather treatment.
Mukka Proteins Manager
Fedex Securities was the manager of the offer.
Mukka Proteins IPO Price Band
The company fixed the price band at Rs 26-28 a share for the IPO and the issue was entirely a fresh issue with no Offer For Sale (OFS) component.
Mukka Proteins IPO GMP Today
Mukka Proteins IPO GMP is +35, which means its share price was trading at a premium of ₹35 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Mukka Proteins share price is indicated at ₹63 apiece, which is 125% higher than the IPO price of ₹28.