Mukka Proteins IPO Allotment: How to Check Allotment Status; GMP has a head start on listing on the stock exchange

Allotment of Mukka Proteins IPO shares: The allotment of Mukka Proteins IPO shares is expected to be completed today (Tuesday, March 5). The investors who have applied for the issue can check the IPO allotment status of Mukka Proteins on the company's registry portal, Cameo Corporate Services Limited, as well as on BSE.

The Mukka Proteins IPO will be listed on the BSE and NSE. The tentative listing date is Thursday, March 7, 2024.

The shares will be credited to the demat account of the allottees on March 6. Meanwhile, the refund process will also start tomorrow once the allotment is completed today.

The IPO was opened for subscription between February 29 and March 4 at a price range of around ₹26-28. The issue witnessed a large number of subscriptions in the three bidding days and was subscribed 136.99 times. It received bids for 767.16 crore shares as against 5.6 crore shares in the offer. The NII portion was the most subscribed at 250.39 times, while the QIB and retail category were bid 189.28 and 58.52 times respectively.

How to check the allocation

On the registrar website

1) Go to the registrar website – https://ipo.cameoindia.com/

2) Click on “Company Selection” and then select the IPO name.

3) Now enter your PAN, Application Number, DP/Client ID or Account Number/IFSC.

4) Click “Search”.

You can also check your allotment status on BSE. Here's how

1) Go to BSE website – https://www.bseindia.com/investors/appli_check.aspx

2) Select “Stocks” and then select the issue name from the drop-down list.

3) Enter your application number and PAN card number.

4) Click the “Search” button.

The status only appears after the allocation if the data is entered correctly.

Details about the Mukka Proteins IPO

Mukka proteins ₹The ₹224 crore IPO comprises a fresh issue of 8,000,000 shares of face value of Re 1. There is no offer component.

The Company intends to use the net proceeds from the issue as set out in the Red Herring Prospectus (RHP) to fund the following purposes: general corporate purposes, investments in its associate company, Ento Proteins Private Limited and the working capital requirements of the Company.

Mukka Proteins Ltd produces and sells fish meal, fish oil and soluble fish paste, which are necessary ingredients in the production of aqua feed (for fish and shrimp), poultry feed (for grilling and laying hens) and animal feed (dog and cat chow).

According to the company's RHP, its listed competitors are Avanti Feeds Ltd (with a P/E ratio of 25), Godrej Agrovet Ltd (with a P/E ratio of 33.23), Zeal Aqua Ltd (with a P/E ratio of 20.63) and Waterbase Ltd.

Between March 31, 2022 and March 31, 2023, Mukka Proteins Limited's profit after tax (PAT) increased by 84.07 percent while revenue increased by 52.52 percent.

Mukka Proteins IPO GMP today

Mukka Proteins IPO GMP or gray market premium is +35. This suggests that Mukka Proteins' share price was trading at a premium of ₹35 on the gray market. Taking into account the upper end of the IPO price range and the current premium on the gray market, the estimated listing price of the Mukka Proteins share is included ₹63 each, which is 125 percent higher than the IPO price of ₹28.

The GMP was the same as the previous session. However, it got relegated ₹25 on March 3rd.

“Gray market premium” indicates investors’ willingness to pay more than the issue price.

Details about the Mukka Proteins IPO.

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