The subscription period for the Mukka Proteins IPO, which commenced its public issue on February 29, 2024, concluded on March 4, with the pricing of shares ranging from Rs 26 to Rs 28. The response from investors was overwhelmingly positive, resulting in an oversubscription rate of 136.99 times. This means that investors bid for a total of 767.16 crore shares against the 5.6 crore shares available for subscription.
The allotment process for the IPO is slated to be finalized on Tuesday, March 5. Investors who applied for the IPO can ascertain their allotment status by accessing the registrar's portal, Cameo Corporate Services Limited, or by visiting the Bombay Stock Exchange (BSE) website.
Notably, the Non-Institutional Investor (NII) portion witnessed the highest subscription rate at 250.39 times, followed by the Qualified Institutional Buyer (QIB) segment at 189.28 times, and retail investors at 58.52 times.
To check the allotment status on BSE, individuals can navigate to the BSE website, select 'Equity,' choose the IPO name from the dropdown menu, and enter their application number and PAN card number. Similarly, on the Cameo Corporate Services Limited website, investors can select the IPO name under 'Company Selection' and input their PAN, application number, DP/Client ID, or account number/IFSC to check the allotment status.
As for the Grey Market Premium (GMP), the latest figure for the Mukka Proteins IPO stands at Rs 35. Considering the upper price limit of Rs 28 set for the IPO, the estimated listing price is projected to be Rs 63 (upper price limit plus today's GMP), indicating an expected percentage gain of 125.00 percent per share.
The IPO details reveal that Mukka Proteins' Rs 224 crore IPO consists solely of a fresh issue of 8 crore equity shares with a face value of Re 1, without any offer-for-sale component. The proceeds from the IPO will be allocated towards general corporate purposes, investment in their associate, Ento Proteins Private Limited, and addressing working capital requirements, as outlined in the red herring prospectus. The company specializes in the manufacturing and sale of fish meal, fish oil, and fish soluble paste, essential components for aqua feed, poultry feed, and pet food production.
