Mukka Proteins IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Jul 27, 2023One of the essential industries where the Indian Market has a strong presence and is ahead of other countries is the aquaculture industry.
India is the second-largest supplier of farmed fish and captures about 8% of the worldwide aquaculture production.
A substantial contributor to this growth is Mukka Proteins Limited. A fast-growing entity, with 350th rank in the Financial Times FT1000 High Growing Companies Asia Pacific 2021 edition.
The company is now ready to go public and increase the size of its members with the Mukka Proteins IPO. Through this Mukka Proteins IPO Review, you will get all the company’s details and its IPO.
| Face Value | Rs 1 |
| Price Band | Not Disclosed |
| Listing At | BSE, NSE |
| Min. Order Quantity | Not Disclosed |
| Listing Date | Not Disclosed |
| Offer for Sale | Not Disclosed |
| Fresh Issue | Not Disclosed |
| IPO Size | Not Disclosed |
| Tick Size | 1 |
Mukka Proteins IPO Overview
Mukka Proteins IPO is a Fresh Issue of 8,00,00,000 Equity Shares. No promoters or existing shareholders are offloading their shares in the IPO.
The company has filed the Draft Red Herring Prospectus with SEBI and expects its approval.
As per the DRHP, the company has no plan for any pre-IPO placement of shares before the IPO. The company’s shares will be listed on BSE and NSE post the IPO.
Mukka Proteins IPO Important Dates
| Events | Date |
| IPO Opening Date | Not Disclosed |
| IPO Closing Date | Not Disclosed |
| Basis of Allotment Finalization | Not Disclosed |
| Refunds Initiation | Not Disclosed |
| Credit of Shares to Demat Account | Not Disclosed |
| Share Listing Date | Not Disclosed |
Mukka Proteins Limited filed the DRHP on March 18, 2022, to attain SEBI approval. The IPO is likely to hit the market in August 2022 positively. Mukka Proteins IPO Dates are yet determined.
The company will file the Red Herring Prospectus after the DRHP approval and declare the IPO dates to the public.
Mukka Proteins IPO Price, Size, Share Offerings
| Face Value | Rs.1 |
| Price Band | Not Disclosed |
| Offer for Sale | Not Disclosed |
| Fresh Issue | Not Disclosed |
| IPO Size | Not Disclosed |
The IPO of Mukka Proteins Limited consists of 8,00,00,000 equity shares to be offered through the Fresh Issue. Mukka Proteins IPO Size does not contain any Offer for Sale.
The Mukka Proteins IPO Price will be ascertained through the Book Building Process by the company in consultation with the lead managers of the issue. The face value of the offered shares is Rs. 1 each.
Mukka Proteins IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| Not Disclosed | |||
Grey Market Premium is a premium amount paid at which the equity shares of the issuer company are traded in the Grey Market before its listing on the stock exchange.
It influences the listing price to a high degree. Traders trade in this market without any legal agreement of the trade.
The market is usually active before listing the shares, and therefore, Mukka Proteins IPO GMP will be available before its opening.
Mukka Proteins IPO Subscription Status
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – | ||||
| 2nd Day – | ||||
| 3rd Day – | ||||
| Shares Offered or Net Issue |
Mukka Proteins IPO Subscription will take place after the filing of RHP, which will contain the IPO opening and closing dates, price band, minimum bid lot size, and other details using which investors can bid in the IPO.
The investors are divided into various segments, and a particular portion is reserved for each category. 50% of the offer will be reserved for the QIBs, not less than 15% of the offer will be reserved for Non-Institutional Bidders, and the rest 35% of the offer will be reserved for the Retail Individual Bidders.
Mukka Proteins IPO Allotment Status
Allotment of shares is when the equity shares are allotted in the Demat Accounts of the successful bidders. The basis of Mukka Proteins IPO Allotment has not been ascertained
Mukka Proteins IPO Live Performance
You can analyze the Mukka Proteins IPO Performance just with one click. Mukka Proteins IPO Price will be updated after the IPO is listed.
Subscribe to Mukka Proteins IPO – Open Free Demat Account Now!
Mukka Proteins – Company Review
Mukka Proteins was originally started as a Partnership firm, “Mukka Sea Food Industries,” in 2003. In 2010, it was converted into a Private Limited Company, “Mukka Sea Food Industries Private Limited.”
Later in 2019, it was converted from a private company to a public company. In 2021, the company changed its name from “Mukka Sea Food Industries Limited” to “Mukka Proteins Limited.”
The company is the fastest-growing company and has ranked in the Financial Times FT1000 High Growing Companies Asia Pacific 2021 edition.
Products or Services
Mukka Proteins is an animal protein company specializing in manufacturing fish meals, fish soluble paste, and fish oil. It also engages in developing alternative proteins, including Black Soldier Fly (BSF) insect meal.
The company has a diverse customer base and includes countries like Taiwan, Hongkong, Malaysia, Vietnam, Bangladesh, USA, Denmark, Turkey, and Chile.
Some of the company’s customers include Avanti feeds, CP Aqua, GC Luckmate, Grobest, and Skretting, among others.
Promoters and Holding
The Promoters of Mukka Proteins Limited are:
- Kalandan Mohammed Haris
- Kalandan Mohammad Arif
- Mr Kalandan Mohammed Althaf
The management of the company comprises:
- Karkala Shankar Balachandra Rao, in the position of Chairman & Independent Director
- Kalandan Mohammed Haris, in the position of Managing Director & CEO
- Mr Kalandan Mohammed Althaf, in the position of Whole Time Director & CFO
- Kalandan Mohammad Arif, in the position of Whole Time Director & COO
- Kalandan Abdul Razak, in the position of Non-Executive Director
- Umaiyya Banu, in the position of Non-Executive Director
- Hamad Bava, in the position of Independent Director
- Narendra Surendra Kamath, in the position of Independent Director
- Mr Mehaboobsab Mahmadgous Chalyal, in the position of Company Secretary and Compliance Officer
Are Mukka Proteins Good for Investment?
Mukka Proteins has been in operation since 2003 and has emerged as a top company. It has gained a high reputation and preference in the Indian and international markets.
The company offers Fish Meal, Fish Oil, and Fish Soluble Paste products. It aims to contribute to India’s food security and offer alternative protein sources and much more.
Mukka Proteins Financial Statements
| Amount (in INR & Million) | ||||
| 30-Sept-21 | Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Assets | 3,324.57 | 3,547.95 | 2,931.15 | 2,008.41 |
| Revenue | 2,678.07 | 6,137.73 | 5,570.90 | 4,116.90 |
| Expense | 2,584.65 | 5,983.17 | 5,373.59 | 3,921.98 |
| Profit After Tax | 60.69 | 110.10 | 135.74 | 136.81 |
Mukka Proteins is among the leading entities in the seafood industry. It has a long-standing experience in the sector and has set itself distinct from others.
As per the DRHP, the company’s total income during 2019, 2020, and 2021 were – 4,116.90 million, 5,570.90 million, and 6,137.73 million, respectively.
The company expands its operations over the years, and its positive results reflect in the financial statements.
The profit of the company for the years 2019, 2020, and 2021 were – 188.03 million, 197.31 million, and 154.56 million.
In the half-year of 2021-22, the company had a total income of 2,678.07 million, and its profit was 93.42 million.
| Earnings per Equity Share (in Million) | ||||
| 30-Sept-21 | Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Diluted | 0.28 | 0.50 | 0.62 | 0.62 |
On the hand, the EPS of Mukka Proteins states a not-so-impressive outcome. The company’s EPS has been near zero in the last few years. The EPS as of September 30, 2021, was Rs. 0.28.
The company has an impressive EPS as well, and it has been expanding every year from Rs. 20.95 in the last financial year to Rs. 27.73 as of 31st December 2021.
Mukka Proteins IPO Review
Mukka Proteins IPO, an entirely Fresh Issue of equity shares, files with the capital market regulator to seek its approval.
The IPO proposes to fund the working capital requirements, make a payment towards Working Capital Limit, and other various corporate purposes.
The company is a leading entity in India and has set firm business in the international market. The company has been in operation for decades and has only grown to higher heights during its business.
Mukka Proteins aims to contribute to strengthening India’s Food Security by broadening its fishmeal business and offering innovative protein sources.
Mukka Proteins IPO Details
Here are a few more details you need to know before investing in Mukka Proteins IPO –
Mukka Proteins IPO Issue Object
Thus, Mukka Proteins has proposed diverse objectives for making the IPO offer and some of the objectives are:
- Working Capital Requirements
- Part re-payment of Working Capital Limit
- General Corporate Purposes
- Issue Related Expenses
Mukka Proteins IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- One of the leading manufacturers of Fish Meal, Fish Oil and Fish Soluble Paste industry in India with over 19 years
- Pan India and International market presence
- Well-experienced management team with proven project management and implementation skills.
- A comprehensive product portfolio enables us to serve diverse customers
- Presence across diverse industry verticals with long-standing relationships with our customers.
- Growth led by continuous investment and focus on R&D
- Quality Assurance and Quality Control of our products.
- Strategically located manufacturing facilities
Quantitative factors are:
| Basic EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 0.50 | 13.49 | 3.02 |
| 31-Mar-20 | 0.62 | 23.30 | – |
| Mar-19 | 0.62 | 32.49 | – |
Mukka Proteins IPO Lead Managers
Here is the list of Lead managers –
- FINSHORE MANAGEMENT SERVICES LIMITED
Mukka Proteins IPO Registrar to offer
Check out the details of the registrar here –
CAMEO CORPORATE SERVICES LIMITED
“Subramanian Building”, #1, Club House Road,
Chennai – 600 002, India
Telephone: +91-44-40020700, 28460390
Facsimile: +91-44-28460129
Email: investor@cameoindia.com
Contact Person: Mr. R.D. Ramasamy, Director
Website: www.cameoindia.com
SEBI Registration Number: INR000003753
CIN No: U67120TN1998PLC041613
Mukka Proteins IPO – Other Details
- Statutory Auditor – Shah & Taparia, Chartered Accountant
- Legal Counsel to the Company – Kanga & Co.
- Bankers to the Company – HDFC Bank Limited, Yes Bank Limited
Mukka Proteins IPO – Conclusion
The Mukka Proteins are growing at a rapid pace. The company has a huge market, and demand is ever-increasing.
Seafood is one of the vast industries, and India’s strong position makes it even more attractive for the entities operating in the segment.
Mukka Proteins IPO will help the company reach a wider population and strengthen its standings.
To Subscribe to Mukka Proteins IPO – Open Demat Account Now!
Mukka Proteins IPO Review FAQs
Check out the FAQs on Mukka Proteins IPO –
What is the Issue Size of Mukka Proteins IPO?
The Company is making an initial public offer of 8,00,00,000 equity shares. They vividly portray the aspects of the issue in this article.
You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Mukka Proteins IPO?
The price band for this particular IPO ranges between NA. As far as the face value of the share is of concern, it is Rs.1 per share.
What is the Mukka Proteins IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on NA, while the closing date is set at NA.
What is the Mukka Proteins IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on NA, refund initiation is on NA, credit of shares is on NA, and share listing date is on NA.
What is the Mukka Proteins IPO Listing Date?
Shares of this company shall be listed in the exchanges NA. The date, when the listing would be done, is stagnant on NA.
Who is the Registrar of Mukka Proteins IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. CAMEO CORPORATE SERVICES LIMITED. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Mukka Proteins IPO?
Here are the promoters of this IPO – MR. KALANDAN MOHAMMED HARIS, MR. KALANDAN MOHAMMAD ARIF AND KALANDAN MOHAMMED ALTHAF. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Mukka Proteins IPO?
They have obtained the GMP of this IPO and it is NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Mukka IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years.
You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Mukka Proteins Company?
They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2021 in Million is 110.10, 2020 is 135.74, 2019 is 136.81. PAT from Sept 2021 is 60.69.
Featured Topics