Mukka Proteins IPO GMP, Details, size, Price 2024

Mukka Proteins IPO is coming up with its IPO. The IPO will be open for subscription on February 29, 2024 check out gmp, financial and more.

Mukka Proteins IPO Details

 

Mukka Proteins IPO Dates 29 February – 4 March 2024
Mukka Proteins Issue Price INR 26 – 28 per share
Fresh issue 80,000,000 shares (INR 224 crore)
Offer For Sale NIL
Total IPO size 80,000,000 shares (INR 224 crore)
Minimum bid (lot size) 525 shares (INR 14,700)
Face Value  INR 1 per share
Retail Allocation 35%
Listing On BSE, NSE

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Mukka Proteins IPO – About Company 

 

Mukka Proteins is a leading producer of fish-derived protein products. The company specializes in manufacturing and distributing fish meal, fish oil, and fish-soluble paste, essential ingredients utilized in aqua feed (for fish and shrimp), poultry feed (for broiler and layer), and pet food (for dogs and cats).

The company’s reach extends to over 10 countries, including Bahrain, Bangladesh, Chile, Indonesia, Malaysia, Myanmar, the Philippines, China, Saudi Arabia, South Korea, Oman, Taiwan, and Vietnam. As of March 31, 2023, Mukka Proteins boasts a diverse workforce of 385 employees, encompassing various departments such as skilled and unskilled labor, administration, management, and operations.

Currently, Mukka Proteins operates six manufacturing units, with four located in India and two owned by its Foreign Subsidiary, Ocean Aquatic Proteins LLC, situated in Oman. Additionally, the company manages three blending facilities and five storage facilities, all strategically positioned near coastlines for efficient operations.

As of December 31, 2022, Mukka Proteins demonstrates an impressive annualized combined manufacturing capacity, producing 115,050 metric tonnes per annum (MTPA) of fish meal, 16,950 MTPA of fish oil, and 20,340 MTPA of fish soluble paste.

 

Mukka Proteins IPO Details
Mukka Proteins IPO Details

 

Industry Overview 

 

In terms of GVA, fisheries have been fastest growing segment in AFF. Its GVA grew ~8.0% during fiscal 2012 to 2022. This segment contributed 6.9% share in the AFF sectoral GVA as of fiscal 2022, and ~1% to overall GVA. 

Export of fish and fish products from India has grown at 13% CAGR from ` 166 billion in fiscal 2012 to ` 576 billion in fiscal 2022. Of the total exports in fiscal 2022, frozen shrimp occupied the highest share at 74%, followed by frozen fish at 6%.

CRISIL MI&A Research estimates, the Indian fish meal and fish oil industry de-grew at a CAGR of (4)- (5)% from ` 18.0 – 24.0 billion in fiscal 2018 to ` 13.0 – 17.0 billion in fiscal 2022. While in volume terms, it is estimated to have de-grown at a CAGR of (9)-(13)% from 180,000 – 220,000 tonnes in fiscal 2018 to 100,000-140,000 tonnes in fiscal 2022.

 

Mukka Proteins IPO – Financial Performance

 

  FY 2021 FY 2022 Q3 FY 2023
Revenue 603.83 770.50 756.42
Expenses 598.32 741.18 733.62
Net income 11.01 25.82 25.60
Margin (%) 1.82 3.35 3.38

Figures in INR Crores

 

Valuations & Margins

 

FY 2020 FY 2021 FY 2022
EPS 0.60 0.41 1.10
PE ratio
RONW (%) 23.40 13.91 27.75
NAV 2.56 2.93 3.97
ROCE (%) 9.65 5.86 13.86
EBITDA (%) 5.76 5.27 7.04
Debt/Equity 2.45 2.31 1.68

 

 

Competitive Strengths

 

  • Our position as a leading manufacturer and exporter of Fish Protein products .
  • Established customer base and strong relationships.
  • Strategically located Facilities.
  • Entry Barriers.
  • Strong and consistent financial performance.
  • Focus on Quality, Environment, Health and Safety (QEHS).
  • Experienced Promoter Directors with extensive domain knowledge. 

 

Object Of The Issue

 

  • Funding working capital requirements of our Company;
  • Investment in our Associate, viz. Ento Proteins Private Limited, for funding its working capital requirements; and
  • General corporate purpose.

 

Mukka Proteins IPO GMP Today

 

Date Day-wise IPO GMP Kostak Subject to Sauda
27 February 2024 15

 

Mukka Proteins IPO – Allotment Status

 

Mukka Proteins IPO allotment status will be available on the Cameo Corporate Services website. Click on this link to get allotment status.

 

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Disclaimer-The content presented here is intended solely for analytical and educational purposes. If you consider investing, it is strongly advised to conduct your own thorough research. We do not endorse or recommend any specific stocks or initial public offerings (IPOs).

 

 

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