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TCS, HDFCBANK, SBI Liquid Fund (G)
Mukka Proteins Ltd.

MUKKA

Equity

BSE,NSE

Min. Investment

26,000.00

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IPO Details

Bidding Dates

29 Feb 24 - 04 Mar 24

Price Range ₹

26 - 28

Total Equity

224.00Cr

Lot Size

535

Exchange Status

BSE,NSE

IPO Doc

Subscription Rate

Non-Institutional Investor

58.52×

Qualified Institutional Buyers

189.28×

Employees

0.00×

Retail Investors

58.52×

Total subscription Rate

136.99×

IPO Timeline

Offer start

29 Feb 2024

Offer end

04 Mar 2024

Allotment

05 Mar 2024

Refund initiation

06 Mar 2024

Demat transfer

06 Mar 2024

Listing

07 Mar 2024

About Company

Incorporated in March 2003, Mukka Proteins Limited specializes in manufacturing fish protein products, including fish meal, fish oil, and fish soluble paste. These products serve as essential ingredients for the production of aqua feed (for fish and shrimp), poultry feed (for broilers and layers), and pet food (for dogs and cats). The company's reach extends globally, with exports to over 10 countries, including Bahrain, Bangladesh, Chile, Indonesia, Malaysia, Myanmar, the Philippines, China, Saudi Arabia, South Korea, Oman, Taiwan, and Vietnam. As of March 31, 2023, Mukka Proteins Limited employed a workforce of 385 individuals spanning various departments such as technical and support staff, administration, management, and operations.

Year Founded

04-11-2010

Promotor Details

Karkala Shankar Balachandra Rao

Promoter Holdings Details

ParticularPre-IPOPost-IPO
Percentage10073.33
Share Capital220000000220000000

Offer to Public

8,00,00,000.00 Cr

Project Details

  • General corporate purposes - 558.08cr
  • Funding working capital requirements of our Company - 1200cr
  • Investment in our Associate, viz. Ento Proteins Private Limited, for funding its working capital req - 100cr

Objectives

  • Funding working capital requirements of our Company.Investment in our Associate, viz. Ento Proteins Private Limited, for funding its working capital requirements.General Corporate Purpose.

Highlights

  • Mukka Proteins Limited offers a range of fish protein products, catering to various industries such as aqua feed, poultry feed, and pet food, which provides stability and flexibility in revenue streams.
  • With exports to over 10 countries, the company has established a strong international presence, allowing it to tap into diverse markets and potentially mitigate risks associated with fluctuations in domestic demand.
  • The strategic location of production facilities near the coast ensures efficient logistics and access to raw materials, contributing to cost-effectiveness and streamlined operations.
  • management system standards signify its commitment to quality control and adherence to international standards, enhancing its reputation and competitiveness in the market.
  • Contractual arrangements with third-party manufacturing facilities enable the company to scale production as needed without significant capital investment, potentially reducing operational risks and costs.

Challenges

  • Mukka Proteins Limited relies on third-party manufacturing facilities for the supply of fishmeal and fish oil, which could pose risks related to quality control, supply chain disruptions, and dependency on external factors beyond the company's control.
  • International operations and exports expose the company to currency exchange rate fluctuations, which could impact revenues and profitability, especially in markets with volatile currencies.
  • Operating in multiple countries entails compliance with diverse regulatory frameworks, which may increase administrative burdens, compliance costs, and risks of non-compliance.
  • Fish protein production may raise environmental and sustainability concerns related to overfishing, habitat degradation, and waste management, potentially leading to reputational damage and regulatory scrutiny.
  • The company operates in highly competitive markets, facing competition from domestic and international players offering similar products, which may exert pressure on pricing, market share, and profitability.

Financials

YearsTotal AssetsShare CapitalProfit After TaxConsolidated Net ProfitAdjusted EPS
20223,922.96220.00135.74131.760.5989
20202,931.1555.00136.81142.900.6495
20213,547.9555.00258.19242.081.1004
20235,751.64220.00110.1089.760.408
20249,407.92300.00475.25440.752.0034
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