Mukka Proteins IPO Day 3: Latest Subscription Status, GMP, Other Details Here

The initial public offering (IPO) of Mukka Proteins Limited, a fish protein product maker, opened for subscription on February 29, 2024, and is set to close on March 4, 2024. With just one day left for primary market investors to apply, the IPO has already garnered significant attention.
The company aims to raise a total of Rs 224 crore through the issuance of fresh shares, with a price band set at Rs 26 to Rs 28 per equity share.

Subscription Status

Mukka Proteins IPO has witnessed strong demand from investors, as indicated by its subscription status of 6.97 times in the first two days of bidding. By day 3, the subscription surged to 27.63 times, reflecting robust investor interest. Particularly noteworthy is the retail portion, which was subscribed 22.05 times, and the NII (Non-Institutional Investor) portion, which was oversubscribed by a remarkable 74.71 times. Meanwhile, the QIB (Qualified Institutional Buyer) segment was subscribed 2.08 times.

Grey Market Premium

The grey market sentiment towards Mukka Proteins IPO remains highly bullish, with the grey market premium (GMP) standing at Rs 30, up from Rs 28 on the previous day. Market observers attribute this positive sentiment to the strong response from primary market investors and the overall bullish trend in the Indian stock market. Moreover, they anticipate continued bullishness in the grey market, fueled by positive global market sentiments and potential momentum on Dalal Street in the upcoming sessions.

IPO Review

The strong subscription numbers and bullish sentiment in the grey market underscore investor confidence in Mukka Proteins Limited IPO. With just one day remaining for subscription, investors are closely monitoring the developments and considering their investment decisions. As the IPO draws to a close, all eyes are on the listing and subsequent trading performance of Mukka Proteins shares, amidst evolving market dynamics and global trends.

Anchor Book Mobilization

Anchor Book Mobilization Prior to the IPO, Mukka Proteins Limited successfully raised Rs 67.2 crore through its anchor book, attracting investments from six marquee investors. Notable participants in the anchor book included Neomile Growth Fund, Saint Capital Fund, Eminence Global Fund, and Elara India Opportunities Fund, signaling confidence in the company's growth prospects.

Company Overview

Mukka Proteins Limited was founded in March 2003 and is focused on producing goods containing fish protein. The company's diverse product range caters to both domestic and international markets, with exports to over 10 countries including Bahrain, Bangladesh, Chile, Indonesia, Malaysia, Myanmar, Philippines, China, Saudi Arabia, South Korea, and Oman.