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
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
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 100 | 73.33 |
| Share Capital | 220000000 | 220000000 |
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
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2020 | 2,931.15 | 55.00 | 135.74 | 131.76 | 0.5989 |
| 2021 | 3,547.95 | 55.00 | 475.25 | 440.75 | 2.0034 |
| 2024 | 9,407.92 | 300.00 | 743.05 | 700.52 | 2.3351 |
| 2023 | 5,751.64 | 220.00 | 136.81 | 142.90 | 0.6495 |
| 2022 | 3,922.96 | 220.00 | 135.74 | 131.76 | 0.5989 |
