On day 2, the retail investors portion has been booked 8.10 times, Non Institutional Investors (NII) portion is subscribed 4.10 times, and Qualified Institutional Buyers (QIB) portion is subscribed 1.02 times.
With its retail portion being fully subscribed within the first two hours of opening, Mukka Proteins IPO was off to a solid start on its first day of opening. Mukka Proteins IPO subscription status was 2.47 times on day 1, as per BSE data.
On day 1, Mukka Proteins IPO retail investors portion has been subscribed 3.70 times, Non Institutional Investors (NII) portion is booked 1.55 times, and Qualified Institutional Buyers (QIB) portion is booked 1.01 times.
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Mukka Proteins IPO opens for subscription today (Thursday, February 29), and will close on Monday, March 4. Mukka Proteins IPO raised ₹67.20 crores from anchor investors on Wednesday, February 28.
Mukka Proteins IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
Mukka Proteins Ltd manufactures and sells fish meal, fish oil, and fish soluble paste, which are necessary components in the production of aqua feed (for fish and prawns), poultry feed (for grill and layer), and pet food (dog and cat chow).
Mukka Proteins IPO price band has been fixed in the range of ₹26 to ₹28 per equity share of the face value of Re 1. Mukka Proteins IPO lot size is 535 equity shares and in multiples of 535 equity shares thereafter.
Mukka Proteins IPO subscription status
Mukka Proteins IPO has received bids for 29,24,02,645 shares against 5,60,00,435 shares on offer, at 13:51 IST, according to data from the BSE.
Mukka Proteins IPO retail investors’ portion received bids for 22,69,28,275 shares against 2,80,00,000 shares on offer for this segment.
Mukka Proteins IPO’s non-institutional investors’ portion received bids for 22,69,28,275 shares against 1,20,00,000 on offer for this segment.
Mukka Proteins IPO’s QIBs portion have received 1,63,25,525 shares against 1,60,00,435 shares on offer for this segment.
Mukka Proteins IPO details
Mukka Proteins IPO, which is worth ₹224 crore, comprises a fresh issue of 8,00,00,000 equity shares with a face value of Re 1. This is a completely a fresh issue, and there is no offer-for-sale component.
The company intends to use the net proceeds from the issue, as stated in the red herring prospectus (RHP), to fund the following: general corporate purposes, investment in their associate, Ento Proteins Private Limited, to fund its working capital requirements, and funding the company’s working capital requirements.
The registrar for the Mukka Proteins IPO is Cameo Corporate Services Limited, while the book running lead manager is Fedex Securities Pvt Ltd.
Mukka Proteins IPO GMP price today
Mukka Proteins IPO GMP or grey market premium is +29. This indicates Mukka Proteins share price were trading at a premium of ₹29 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Mukka Proteins share price was indicated at ₹57 apiece, which is 103.57% higher than the IPO price of ₹28.
Based on last 25 sessions grey market activities, today IPO GMP trending upward and expects a strong listing. The lowest GMP is ₹0, while the highest GMP is ₹29, as per investorgain.com analysts.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Published: 01 Mar 2024, 01:57 PM IST