Mukka Proteins’ Rs 224-Cr IPO subscribed 137 times


Mangalore-based fish protein products manufacturer Mukka Proteins’ IPO was subscribed 136.99 times. High net-worth individuals (HNIs) subscribed 250.38 times their quota of shares. Retail investors picked 58.52 times their quota of shares and qualified institutional buyers (QIBs) 189.28 times their reserved portion.The company was looking to raise INR 224 crore through a fresh issue of 8 crore shares at a price band of INR 26-28 a share.The company will spend INR 120 crore of the proceeds for to meet its working capital requirements and INR 10 crore for investment in the associate company, Ento Proteins. The remaining funds will be used for general corporate purposes.Ahead of the IPO, the fish protein products company mobilised INR 67.2 crore through its anchor book. Six investors including Neomile Growth Fund, Saint Capital Fund, Eminence Global Fund, and Elara India Opportunities Fund participated in the anchor book.Mukka Proteins supplies fish meal, fish oil and fish soluble paste, an essential ingredient in the manufacturing of aqua feed (for fish and shrimp), poultry feed (for broiler and layer) and pet food.

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