The price band of Mukka Proteins IPO is Rs 26-28 per share. The size of one lot of this IPO is 535 equity shares.35 per cent share is reserved for retail investors.
New Delhi. Mukka Proteins IPO, which opened on Thursday, has received good support from investors. Also, the unlisted shares of the issue are also making a splash in the grey market. In the grey market, the shares of the issue are trading at a 100 percent premium (Mukka Proteins IPO GMP). Mukka Proteins IPO has been subscribed 6.97 times in the first two days. Tomorrow i.e. March 4 is the last day to bid for the shares of this issue. The company raised Rs 67.20 crore from anchor investors on Wednesday, February 28.
Mukka Protein is one of the largest fish meal and fish oil companies in the country. It also exports fish meal to more than 15 countries. The company manufactures fish meal, fish oil and fish soluble paste, which are essential ingredients for aqua feed, poultry feed and pet food manufacturing. At present, the company has 6 plants running across the country. During the financial year 2022-23, the company’s revenue from operations grew at a rate of 53 percent. The company’s EBITDA grew at a rate of 22 percent and 40 percent respectively in FY22 and FY23.
The company will raise Rs 224 crore
The company aims to raise Rs 224 crore through this IPO. 8 crore new shares will be issued in the issue. The price band of Mukka Proteins IPO has been fixed between Rs 26 and Rs 28 per equity share at face value of Rs 1.
There are 535 shares in one lot
The size of one lot of Mukka Proteins IPO is 535 equity shares. A retail investor can bid for a maximum of 13 lots. This means that a retail investor will have to invest a minimum of Rs 14,980. Mukka Proteins IPO has more than 50% of the issue reserved for qualified institutional buyers (QIBs). 15 per cent is reserved for non-institutional investors (NIIs) and 35 per cent for retail investors.
Mukka Proteins IPO GMP
Mukka Proteins IPO shares are making a splash in the grey market. According to IPO Watch, the unlisted shares of the issue are trading at a premium of Rs 28 (Mukka Proteins IPO GMP) today. The upper price band of the issue is also Rs 28. This means that the IPO shares can be listed in the stock market at Rs 56.
However, every investor must know that it is not necessary that the IPO whose shares are trading at a premium in the grey market will also be listed at a premium in the stock market. The opposite can also happen and IPO investors may incur losses instead of profits on listing.
Tags: Money Making Tips, Stock market, IPO
FIRST PUBLISHED : March 3, 2024, 17:18 IST