Mukka Proteins IPO

Mukka Proteins Limited is an animal protein firm that specialises in the manufacturing of fish meal, fish oil, and fish soluble paste, as well as the development of alternative proteins including Black Soldier Fly (BSF) insect meal for the animal feeding industry. Mukka Proteins IPO will hit the stock market in August 2022.

About Mukka Proteins

Their firm is among the fastest-growing, ranking 350th in the Financial Times FT1000 High Growth Companies Asia Pacific 2021 edition, & has been shortlisted to be showcased in the forthcoming annual edition of Asia Business Outlook Magazine on “Sea Food Companies” as among the “Top 10 Sea Food Companies from Asia 2022.”

They serve the aquaculture industry, which is the fastest-growing food industry on the planet. India is the globe’s second biggest supplier of farmed fish, accounting for more than 8% of worldwide aquaculture production.

India is considered as the globe’s largest shrimp exporter, accounting for around 26% of worldwide trade. The Indian government has given the Indian marine sector a lot of policy encouragement, which has resulted in this expansion.

Government Support

The PMMSY intends to boost fisheries export income to Rs 1 lakh crore by 2024-25 by increasing fish production by 70 lakh tonnes. PMMSY was created to boost fisheries production and exports as part of the government’s goal to double farmers’ income.  To boost the expansion of India’s marine sector, the government has released a draught blue economic policy.

The blue economy of India is a subset of the national economy that includes the entire ocean resources system as well as human-made economic infrastructure in the country ‘s legal jurisdiction’s marine, maritime, and onshore coastal areas.

India has a special marine situation with 7,500 kilometres of coastline. 9 of the country’s 29 states are on the coast and 1,382 islands.

Aim

Among the most important components of Aquafeed is fishmeal and fish oil. Our business has expanded to include the production of high-quality fish meal and omega-3 fish oil, which are used as a raw material in aquafeed, poultry feed, pet feed, animal feed, EPA-DHA extraction (for use in nutraceuticals – nutrients and pharmaceuticals), soap manufacturing, leather tanneries, and paint manufacturing industries all over the world.

Their goal is to make a significant contribution to India’s food security by broadening their fishmeal business and providing innovative protein sources to meet the growing demand of the world’s rapidly booming aquaculture industry in the most feasible, responsible & natural way possible. The company plans to grow its Fish Meal and Fish Oil business globally.

Mukka Proteins IPO

Mukka Proteins Limited, headquartered in Gujarat has submitted Draft Red Herring Prospectus(DRHP) to Securities and Exchange Board of India(SEBI) for initial public offering (IPO) of 8,00,00,000 equity shares on 16 March 2022.

The offer includes a fresh issue and there is not offer for sale (OFS) by the promoters mentioned in the DRHP. They are not looking for any Pre-IPO placement in this issue.

They are now waiting for approval from Securities and Exchange Board of India(SEBI) to float the initial public offering (IPO) in the market.

Financials Trends

Particulars	For the year/period ended ( in Cr.)
	30-Sep-21	31-Mar-21	31-Mar-20	31-Mar-19
Total Assets	332.46	354.80	293.12	200.84
Total Revenue	267.81	613.77	557.09	411.69
Profit After Tax	6.07	11.01	13.57	13.68

Basic and Diluted Earnings Per Share

Financial Period	Basic EPS (in INR)	Diluted EPS (in INR)	Weight
Financial Year 2021	0.62	0.62	3
Financial Year 2020	0.62	0.62	2
Financial Year 2019	0.50	0.50	1
Weighted Average	0.56	0.56
31 Sep. 2021	0.28	0.28

Objects of the Issue

• Prepayment / repayment of all or a portion of the outstanding borrowings of the company to be availed on consolidated basis.
• To meet common corporate objectives.

Basis of the offer

The following are some of the qualitative variables that go towards determining the Issue Price:

• With over 19 years of experience, they are one of India’s major producers of fish meal, fish oil, and fish soluble paste.
• Market footprint across India and internationally.
• Project management and execution skills have been demonstrated by a well-experienced management team.
• They can service a wide range of customers thanks to their comprehensive product line.
• With a long-standing partnership with their clients, they have a presence in a variety of industrial verticals.
• Constant investment and a focus on R&D are driving growth.
• Their products are subject to quality assurance and control.
• Manufacturing facilities that are strategically positioned.

Mukka Proteins Peer Comparison

S. No.	Face Value	Company Name	PE
1	1	Avanti Feeds Limited	18.51
2	10	Godrej Agrovet Limited	36.09
3	10	The Waterbase Limited	70.21

Mukka Proteins IPO Details

IPO Opening Date	August 2022
IPO Closing Date	August 2022
Issue Type	Book Building
Face Value	1 per share
IPO Price	0 to 0 per equity share
Market Lot	–
Min Amount	–
Listing At	BSE, NSE
Issue Size	8,00,00,000 Equity Shares
Fresh Issue	–
Offer for Sale	–

Mukka Proteins IPO Date

Mukka Proteins limited IPO opening date is August 2022, and the closing date is August 2022. The Mukka Proteins issue may list in August 2022.

IPO Opening Date	August 2022
IPO Closing Date	August 2022
Basis of Allotment Date	August 2022
Initiation of Refunds	August 2022
Credit of Shares to Demat Account	August 2022
IPO Listing Date	August 2022

Basis of Allotment

Type	% of Offer	Basis of Allotment
Qualified Institutional Buyer	50	Roughly  equivalent
Non Institutional Investor	15	Roughly  equivalent
Retail	35	Minimum 1 lot based on availability

Mukka Proteins limited IPO Status

Allotment of equity stocks subject to the Fresh Issue and transfer of the Promoter Selling Shareholders’ OFS Stocks to the winning Bidders subject to the Offer for Sale. Nevertheless, the status of the allotment has yet to be revealed.

Here, you can find the Allotment Status of Mukka Proteins IPO.

Mukka Proteins IPO GMP

Mukka Proteins limited IPO Grey Market Premium is 0. You can check out GMP of Other IPOs on below Links:

Date	GMP (in Rs)	Subject to Sauda	Kostak (in Rs)
August 2022
August 2022
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August 2022
August 2022
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August 2022
August 2022
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Check Out the GMP of all Other IPOs

IPO Grey Market Premium

Mukka Proteins limited IPO Review

Mukka Proteins limited IPO review will depend on the price band which will be announced after SEBI approval. Whenever it will be announced we will update you regarding review of Mukka Proteins IPO is good or bad.

Mukka Proteins limited IPO Risk

1. Specific legal proceedings have been filed against their firm, its subsidiaries, associates, joint ventures, promoters, directors, and associated companies. Any negative outcome in these proceedings could have a significant negative impact on their business.
2. The Firm is a party to a legal proceeding involving an alleged violation of environmental regulations by the Firm. The Company ‘s activities at its Sasithulu production plant could be impacted if the proceeding results in a negative outcome.
3. In the normal course of business, they are required to obtain certain authorizations and licences, as well as follow certain laws and regulations.
4. They work in an environmentally sensitive business that might be disrupted by unpredictably or out-of-season weather.

Other Threats

1. The massive contamination of pelagic fish populations caused by man-made factors could have a negative impact on their company.
2. Failure to deliver the required quality of fish meal, fish oil, and fish soluble paste could harm their business. Their business does not have any long-term contracts with its suppliers. Any large difference in supply could have a negative impact on their company.
3. They are bound by the judicial and legislative frameworks of the worldwide markets to which they export their goods, yet they may not constantly be able to follow all of the rules that apply.
4. Incapability to comply with relevant health requirements or quality standards in their activities & guarantee product quality could have a negative impact on their business.

Clients

Their products have a large export market as well as a strong and healthy domestic market. They have long-standing business relationships with all of the world’s main aquafeed giants, including Hong Kong, Vietnam, Taiwan, Bangladesh, Malaysia, Denmark, Chile, the United States, Oman, and Turkey, as well as the largest domestic market leaders in the Indian aquaculture industry.

CP Aqua, Avanti Feeds, GC Luckmate, Skretting, and Grobest are just a few of their well-known clients. Mukka Proteins Limited’s management is dedicated to becoming an employer of choice, attracting and maintaining the best talent.

By creating a structure, systems, and culture in the company that gives difficult positions, rewards success, and gives the chance on a constant basis.

Mukka Proteins limited IPO Brokerage views

once the dates will be announced we will update the views of different brokerage firms regarding this IPO. Here is the views of different stock brokers regarding this Mukka Proteins IPO:

• Yes Securities : Not Updated
• Choice Brokering: Not Updated
• Axis Securities: Not Updated
• IIFL Securities: Not Updated
• Trade swift: Not Updated
• Anand Rathi : Not Updated
• ICICI Securities: Not Updated

Mukka Proteins limited IPO Subscription Status

Date	Day	QIB	NII	Retail	Employees	Total Subscription
August 2022	1
August 2022	2
August 2022	3

Mukka Proteins Management

The Managing Director and CEO, Mr. Kalandan Mohammed Haris, leads the Mukka Group, which has a strong history in the Indian Marine Industry spanning nearly five decades.

Mukka Group is a pioneer in the fishmeal industry, having established one of the earliest steam sterilised fishmeal mills in India. Our contemporary and completely mechanised facility in Karnataka and Gujarat produces steam dried fish meal, fish oil, and fish soluble paste.

Their corporate office is located in Mangalore, and they have a competent team on hand to serve them. The company is now ready to ship Fish Meal, Fish Oil, and Fish Soluble Paste to any location on the planet. Each facility has its own in-house laboratory as well as EIA-certified technologists.

Promoters

• Kalandan Mohammed Haris
• Kalandan Mohammed Althaf
• Kalandan Mohammad Arif

Promoter’s Holding

Pre Issue Share Holding	64.77%
Post Issue Share Holding

Mukka Proteins limited Prospectus