Mukka Proteins Limited manufactures fish protein products. The company produces and supplies fish meal, fish oil and fish soluble paste, which are essential ingredients for the production of aqua feed (for fish and shrimp), poultry feed (for broilers and layers) and pet food (for dog and cat food).
The company exports its products to over 10 countries, including Bahrain, Bangladesh, Chile, Indonesia, Malaysia, Myanmar, Philippines, China, Saudi Arabia, South Korea, Oman, Taiwan and Vietnam.
As of March 31, 2023, the company employed 385 people from various departments, including technical and support staff, administration, management and operations.
The company currently operates six production facilities, including four in India and two in Oman, which are held by its foreign subsidiary Ocean Aquatic Proteins LLC. In addition, the company operates three blending plants and five storage facilities, all of which are located in India. All of the company’s facilities are strategically located near the coast.
The company is certified by NQA and UKAS to ISO 22000:2018 and ISO 9001:2015 management system standards.
Mukka Proteins IPO – Details
| IPO Opening Date | 29 February 2024 |
| IPO Closing Date | 04 March 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 8,00,00,000 Shares Worth ₹224.00 Crore Fresh Issue: 8,00,00,000 Shares Worth ₹224.00 Crore |
| Face Value | ₹1 per equity share |
| IPO Price | ₹26 – ₹28 |
| Market Lot | 535 Shares |
| Min Order | 535 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | Cameo Corporate Services Limited |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Mukka Proteins IPO – Date Schedule
| IPO Open Date | 29 February 2024 |
| IPO Close Date | 04 March 2024 |
| Basis of Allotment Date | 05 March 2024 |
| Initiation of Refund | 06 March 2024 |
| Credit of Shares to Demat Account | 06 March 2024 |
| IPO Listing Date | 07 March 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on 04 March 2024 |
Mukka Proteins IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 535 | ₹14,980 |
| Retail (Max) | 13 | 6,955 | ₹1,94,740 |
| S-HNI (Min) | 14 | 7,490 | ₹2,09,720 |
| S-HNI (Max) | 66 | 35,310 | ₹9,88,680 |
| B-HNI (Min) | 67 | 35,845 | ₹10,03,660 |
Competitive Strengths
- The company’s position as a leading manufacturer and exporter of Fish Protein products.
- Established customer base and strong relationships.
- Strategically located processing facilities.
- Entry Barriers.
- Strong and consistent financial performance.
- Focus on Quality, Environment, Health and Safety (QEHS).
- Experienced Promoter Directors with extensive domain knowledge.
Company Promoters
- Kalandan Mohammed Haris
- Kalandan Mohammad Arif
- Kalandan Mohammed Althaf
Company Financials (Restated Consolidated)
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2021 | 609.95 | 598.31 | 11.01 | 159.19 |
| 31 March 2022 | 776.14 | 741.17 | 25.81 | 173.50 |
| 31 March 2023 | 1183.80 | 1119.32 | 47.52 | 254.83 |
| 30 September 2023 | 612.88 | 569.89 | 32.98 | 317.73 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 36.71% |
| ROCE | 17.62% |
| Debt/Equity | 1.64 |
| RoNW | 34.19% |
| P/BV | 4.78 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 2.16 | 2.2 |
| P/E (x) | 12.96 | 12.73 |
Object 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 Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 1 | Avanti Feeds Limited | 25.00 |
| 2 | 10 | Godrej Agrovet Limited | 33.23 |
| 3 | 1 | Zeal Aqua Limited | 20.63 |
| 4 | 10 | Waterbase Limited | – |
Mukka Proteins IPO Promoter Holding
| Pre Issue Share Holding | 85.22% |
| Post Issue Share Holding | 62.50% |
Mukka Proteins IPO Prospectus
Company Contact Information
| Mukka Proteins Limited Mukka Corporate House, Door, No. 18-2-16/4, First Cross, NG Road, Attavar Dakshina, Kannada, Mangaluru – 575 001 Phone: +918244252889 Email: cs@mukkaproteins.com Website: https://www.mukkaproteins.com/ |
Mukka Proteins IPO Registrar
| Cameo Corporate Services Limited Phone: +91-44-28460390 Email: priya@cameoindia.com Website: https://ipo.cameoindia.com/ |
Mukka Proteins IPO Lead Manager(s)
| 1. Fedex Securities Pvt Ltd |
Mukka Proteins IPO FAQs
| What is Mukka Proteins IPO? Mukka Proteins IPO is a main-board IPO. The issue is priced at ₹26 to ₹28 per equity share. The IPO is to be listed on BSE & NSE. |
| When Mukka Proteins IPO will open? The IPO is to open on 29 February 2024 for QIB, NII, and Retail Investors. |
| What is Mukka Proteins IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Mukka Proteins IPO? You can apply Mukka Proteins IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Mukka Proteins IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Mukka Proteins”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Mukka Proteins IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Mukka Proteins“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Mukka Proteins IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Mukka Proteins”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Mukka Proteins IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Mukka Proteins”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Mukka Proteins IPO Size? Mukka Proteins IPO size is ₹224.00 Crore. |
| What is Mukka Proteins IPO Price Band? Mukka Proteins IPO Price Band is ₹26 to ₹28. |
| What is Mukka Proteins IPO Minimum and Maximum Lot Size? The minimum bid is 535 Shares with ₹14,980 amount while the maximum bid is 6955 Shares with ₹1,94,740. |
| What is the Mukka Proteins IPO Allotment Date? Mukka Proteins IPO allotment date is 05 March 2024. |
| What is the Mukka Proteins IPO Listing Date? Mukka Proteins IPO listing date is 07 March 2024. The IPO is to list on BSE and NSE. |
