Mukka Proteins’ stock started strong on the markets today, with its NSE debut opening at ₹40 per share, marking a significant 42.86% increase from its issue price of ₹28. Meanwhile, on the BSE, Mukka Proteins began trading at ₹44 per share, reflecting an impressive 57.14% surge from its issue price.
Experts’ Predictions Fall Short as Mukka Proteins Share Price Debuts at ₹40, Below Anticipated ₹60-₹66 Range.
Mukka Proteins IPO Sees Massive Investor Demand, Subscription Reaches 136.99 Times: BSE Data. Retail Investors Subscribe 58.52 Times, Non-Institutional Investors (NII) 250.38 Times, and Qualified Institutional Buyers (QIB) 189.28 Times.
Mukka Proteins IPO, Opened on Feb 29 and Closed on Mar 4, Raises ₹67.20 Crore from Anchor Investors.
The Mukka Proteins IPO Reserved: Up to 50% for Qualified Institutional Buyers (QIBs), a Minimum of 15% for Non-Institutional Investors (NIIs), and Not Less Than 35% Allocated for Retail Investors.
Mukka Proteins Ltd specializes in the manufacturing and distribution of fish meal, fish oil, and fish soluble paste, essential ingredients in aqua feed for fish and prawns, poultry feed for broiler and layer birds, and pet food for dogs and cats.
The price band for the Mukka Proteins IPO was set at ₹26 to ₹28 per equity share, with a face value of Re 1 each. The IPO lot size comprised 535 equity shares, with multiples available thereafter.
Here are the details of the Mukka Proteins IPO:
- IPO Size: ₹224 crore
- Number of Equity Shares: 8,00,00,000
- Face Value: Re 1 per share
- Offer-for-Sale Component: None
Utilization of Net Proceeds (as per the red herring prospectus):
- General Corporate Purposes
- Investment in Associate: Ento Proteins Private Limited
- Working Capital Requirements
Registrar: Cameo Corporate Services Limited Book Running Lead Manager: Fedex Securities Pvt Ltd
The Grey Market Premium (GMP) for Mukka Proteins IPO today stands at +35. This suggests that Mukka Proteins’ share price is trading at a premium of ₹35 in the grey market, as reported by investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price for Mukka Proteins shares is projected at ₹63 each, indicating a substantial 125% increase from the IPO price of ₹28.
Today’s IPO Grey Market Premium (GMP) suggests a robust listing based on the activities observed in the past 31 sessions. Analysts at investorgain.com report a GMP range from ₹0 to ₹35, highlighting investors’ willingness to pay above the issue price.
The ‘Grey Market Premium’ serves as an indicator of investors’ readiness to pay a premium over the issue price for shares in the secondary market.
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