Fish protein products manufacturer Mukka Proteins, on Wednesday, announced that it has garnered ₹67.20 crores from anchor investors ahead of its initial public offering that opens for public subscription on Thursday, February 29, 2024.
The company informed the bourses that it allocated 2,39,99,565 equity shares at ₹28 per share on Wednesday, February 28, 2024, to six anchor investors.
Anchor investors who participated in the anchor were Neomile Growth Fund, Saint Capital Fund, Zinnia Global Fund PCC, Eminence Global Fund PCC, Craft Emerging Market Fund PCC, and Elara India Opportunities Fund.
Fedex Securities Private Limited is the sole book-running lead manager and Cameo Corporate Services Limited is the registrar to the offer. The equity shares are proposed to be listed on the BSE and NSE.
Mukka Protein IPO details
The issue consists of a fresh issue of up to 8 crore equity shares with no offer for sale (OFS) component.
The company is proposing to open its initial public offering of equity Shares on Thursday, February 29, 2024, and closes on Monday, March 04, 2024. The price band for the offer has been determined at ₹26 – ₹28 per equity share.
The IPO will fetch ₹224 crore at the upper end of the price band. Investors can bid for a minimum of 535 equity shares and in multiples of 535 equity shares thereafter.
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.
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 IPO listing date and allotment details: Tentatively, Mukka Proteins IPO basis of allotment of shares will be finalised on Tuesday, March 5 and the company will initiate refunds on Wednesday, March 6, while the shares will be credited to the demat account of allottees on the same day. Mukka Proteins IPO shares are likely to be listed on BSE and NSE on Thursday, March 7.
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Published: 28 Feb 2024, 10:41 PM IST