Mukka Proteins shares: Although Mukka Proteins Ltd.’s stock had a great Dalal Street debut on Thursday, the gains haven’t been as substantial as anticipated. On the BSE, Mukka Proteins shares opened at Rs 44, which is Rs 57.14 percent more than its issue price of Rs 28. But on the NSE, the stock was listed at a premium of 42.86 percent, at Rs 40.
The listing for Mukka Proteins has not been as strong as anticipated. Mukka Proteins shares were trading at a premium of Rs 35 per share on the black market prior to listing, which indicated a 125% listing premium for investors. But before the issue went up for bids, the company was asking a premium of Rs 25–30.
Mukka Proteins offered 535 equity shares in its initial public offering (IPO) at a price between Rs. 26 and Rs. 28 per share. Subscriptions for the issue were accepted from February 29 to March 4. Through its primary offering, which consisted solely of a new share sale of up to 8,00,00,000 equity shares, the company was able to raise a total of Rs 224 crore.
Also Read | Mukka Proteins IPO set to list on March 7, including details on allotment and GMP
The issue saw strong buying interest from all investor categories, resulting in an impressive 137 subscriptions overall. Bidding took place on 250.26 occasions for the non-institutional bidder quota, and 189.28 times for the institutional investor portion designated for qualified bidders. Throughout the three days of bidding, 58.36 times were the retail investor allocation reserved.
Fish protein products are the company’s primary focus, and Mukka Proteins was established in March 2003. Fish meal, fish oil, and fish soluble paste—essential ingredients for aqua feed used in shrimp and fish farming—as well as poultry feed for layers and broilers and dog and cat food, are produced and supplied by the company.
The Mukka Proteins IPO’s registrar is Cameo Corporate Services, and Fedex Securities is the only book-running lead manager.
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