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Mukka Proteins IPO
Price Band
₹26.0–28.0
Issue Size
₹224.0 Cr
Lot Size
535 shares
Min Investment
₹14,980
GMP
+₹35.0 (125.0%)
Issue Price
₹28.0
Subject to Sauda
₹14200
Paid only if allotted
Mukka Proteins IPO AI Summary
- Mukka Proteins IPO is listed on BSE, NSE in the Animal Feed sector.
- Price band: ₹26.0–₹28.0 per share, lot size 535 shares (min. investment ₹14,980).
- Subscription window: 29 Feb–04 Mar 2024, listing on 07 Mar 2024.
- Current GMP is +₹35.0 (125.0%), an estimated listing price of ₹63 — unofficial and can change daily.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Mukka Proteins IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 04 Mar 2024 — not a current signal.
2 of 3 reviewers say Positive
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Mukka Proteins IPO Grey Market Premium (GMP) Today
GMP
+₹35.0
GMP %
+125.0%
Est. Listing
₹63.0
Updated: 25 Jul 2026 14:07
About the Company
Incorporated in March 2003, Mukka Proteins Limited manufactures fish protein products. The company produces and supplies fish meal, fish oil and fish soluble paste, which are essential ingredients for the production of aqua feed (for fish and shrimp), poultry feed (for broilers and layers) and pet food (for dog and cat food). The company exports its products to over 10 countries, including Bahrain, Bangladesh, Chile, Indonesia, Malaysia, Myanmar, Philippines, China, Saudi Arabia, South Korea, Oman, Taiwan and Vietnam. As of March 31, 2023, the company employed 385 people from various departments, including technical and support staff, administration, management and operations. The company currently operates six production facilities, including four in India and two in Oman, which are held by its foreign subsidiary Ocean Aquatic Proteins LLC. In addition, the company operates three blending plants and five storage facilities, all of which are located in India. All of the company's facilities are strategically located near the coast. The company is certified by NQA and UKAS to ISO 22000:2018 and ISO 9001:2015 management system standards. As of December 31, 2022, the company has contractual arrangements with third-party manufacturing facilities in Sasihithlu (Karnataka), Udupi (Karnataka), Taloja (Maharashtra) and Ratnagiri (Maharashtra) for the supply of fishmeal and fish oil.
Company Financials (₹ Cr)
As of 2023-09-30
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 641.18 | 575.16 | 392.30 | 353.93 |
| Total Income | 612.88 | 1,183.80 | 776.15 | 609.95 |
| Profit After Tax | 32.98 | 47.53 | 25.82 | 11.01 |
| NET Worth | 159.11 | 128.92 | 87.25 | 64.54 |
| Reserves and Surplus | 144.92 | 112.57 | 68.51 | 60.80 |
| Total Borrowing | 317.73 | 254.83 | 173.50 | 159.19 |
Key Ratios
EPS
₹2.16
NAV
₹5.86
ROE
36.71%
ROCE
17.62%
RoNW
34.19%
P/B Value
4.78
P/E Ratio
12.96
Market Cap
₹840.00 Cr
PAT Margin
4.04%
Debt/Equity
1.64
Peer Comparison
| Company | NAV | RoNW | EPS Basic | EPS Diluted | P/E (x) |
|---|---|---|---|---|---|
| Waterbase Ltd. | 44.1 | -1.9% | -0.84 | -0.84 | — |
| Zeal Aqua Ltd | 5.61 | 9.97% | 0.56 | 0.56 | 20.63 |
| Godrej Agrovet Ltd | 142.78 | 10.77% | 15.71 | 15.71 | 33.23 |
| Avanti Feeds Ltd. | 174.45 | 13.14% | 20.45 | 20.45 | 25 |
| Mukka Proteins Limited This IPO | 5.86 | 34.19% | 2 | 2 | — |
Promoters
Kalandan Mohammed Haris, Kalandan Mohammad Arif and Kalandan Mohammed Althaf
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding working capital requirements of the Company 120.00 2 Investment in our Associate, viz. Ento Proteins Private Limited, for funding its working capital requirements; and 10.00 3 General Corporate Purpose 55.81
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹776.15 Cr in the year ending March 31, 2022, increasing to ₹1,183.80 Cr by March 31, 2023. However, by September 30, 2023, total income decreased to ₹612.88 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax was ₹25.82 Cr in the year ending March 31, 2022, rising to ₹47.53 Cr by March 31, 2023. By September 30, 2023, it decreased to ₹32.98 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
Mukka Proteins Limited has an implied P/E of approximately 12.96 at the issue price, compared to peers trading at P/E ratios ranging from 20.63 to 33.23.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an indicator of the expected listing price of an IPO on its debut day. A positive GMP suggests that the IPO is likely to list at a higher price than its issue price, while a negative GMP may indicate the opposite.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's fundamentals, market position, and growth potential.
Who May Want to Wait
Investors with a low-risk tolerance or those seeking guaranteed returns may want to avoid IPOs, as they can be subject to significant price fluctuations post-listing.
Listing Gains — The Risk
Listing-day gains can be unpredictable, influenced by market conditions and investor sentiment. While some IPOs may see significant gains on their first day, others may not perform as expected, leading to potential losses for investors.
This evaluation is generated from Mukka Proteins's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Mukka Proteins IPO GMP today?
Mukka Proteins IPO GMP today is +₹35.0 (125.0%), indicating an estimated listing price of ₹63. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Mukka Proteins IPO?
The price band of Mukka Proteins IPO is ₹26.0–₹28.0 per share.
When does Mukka Proteins IPO open and close?
Mukka Proteins IPO opens on 29 February 2024 and closes on 04 March 2024.
When does Mukka Proteins IPO list on the stock exchange?
Mukka Proteins IPO listed on 07 March 2024 at ₹63.0.
What is the lot size for Mukka Proteins IPO?
The lot size for Mukka Proteins IPO is 535 shares, requiring a minimum investment of ₹14,980.
What is the price band for Mukka Proteins IPO?
The price band for Mukka Proteins IPO is ₹26.0 to ₹28.0.
What is the minimum investment required?
The minimum investment required is ₹14,980.
What is the lot size for the IPO?
The lot size for Mukka Proteins IPO is 535 shares.
When is the listing date for Mukka Proteins?
The listing date for Mukka Proteins is March 7, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, indicating the expected premium or discount at which an IPO may list compared to its issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
29 Feb 2024
Close
04 Mar 2024
Allotment
05 Mar 2024
Listing
07 Mar 2024
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