Mukka Proteins Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹28
Per ShareLot Size
535 Shares
Minimum Investment
₹14,980
Issue Size
₹224 Cr
Face Value
₹1
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Mukka Proteins Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
85.22%
Issue Type
Book Building
ISIN
INE0CG401037
About the Company
We manufacture 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 (dog and cat food). Further, fish oil also finds its application in pharmaceutical products (additionally, the EPA-DHA extraction is used as an ingredient in nutraceuticals), soap manufacturing, leather tanneries & paint industries. We sell our products domestically and also exports them to over 10 countries. Our Company, through our Associate, namely EPPL entered the business of manufacturing and selling of insect meal and insect oil.
Industry Overview
Fish meal is predominantly used in high protein Compound Feeds. The demand for fish meal and fish oil in India driven by the aquaculture industry. The production of fish meal and fish oil depends on the natural availability of fishes and prevailing climatic conditions. In value terms the industry is expected to grow at of 5-9% between fiscal 2022 and 2026 reaching ?16-20 billion. Insect based nutrition is emerging as a new source of protein in the global animal feed industry led by various factors such as high protein content, less water and land requirement, etc.
Company History
Mukka Proteins Limited was originally formed as a partnership firm constituted under the Indian Partnership Act, 1932 pursuant to a deed of partnership dated March 13, 2003 and was registered with Registrar of Firms, Bangalore on March 21, 2003 under the name "Mukka Sea Foods Industries" and was re-constituted on July 14, 2004 and June 18, 2010. "Mukka Sea Foods Industries" was thereafter converted from a partnership firm to a private limited company under Part IX of the Companies Act, 1956, as "Mukka Sea Food Industries Private Limited" and a certificate of incorporation was issued by the Registrar of Companies, Karnataka on November 04, 2010. Subsequently, the Company was converted to a public limited company, pursuant to a special resolution passed by the shareholders of our Company at the extraordinary general meeting held on November 09, 2019 and the name of the Company was changed to "Mukka Sea Food Industries Limited" and a fresh certificate of incorporation, consequent upon conversion to a public limited company dated December 02, 2019, was issued to the Company by the Registrar of Companies, Bangalore. Thereafter, the name of our Company was changed to "Mukka Proteins Limited" pursuant to a special resolution passed by the shareholders of the Company at the extraordinary general meeting held on July 23, 2021 and a fresh certificate of incorporation dated August 06, 2021 was issued by the Registrar of Companies, Bangalore. The CIN of the Company is U05004KA2010PLC055771.
Products & Services
- Mukka Proteins Ltd manufactures 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 (dog and cat food).
Growth Strategy
- Strengthening its foothold in its existing markets and expanding to new geographies.
- Expanding its presence in new protein source.
- Pursue strategic inorganic growth opportunities.
Customer Base
Wholesalers and Retailers
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of up to 80,000,000^ equity shares of face value of Re. 1/- each ("Equity Shares") of Mukka Proteins Limited ("The Company" or the "Issuer") for cash at a price of Rs. 28 per equity share (including a securities premium of Rs. 27 per equity share) ("Issue Price") aggregating up to Rs. 224.00 crores ("The Issue")^. The issue will constitute 26.67% of its post-issue paid-up equity share capital. ^Subject to finalisation of the basis of allotment
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Its position as a leading manufacturer and exporter of Fish Protein products.
- Established customer base and strong relationships.
- Strategically located processing facilities.
- Entry Barriers.
- Strong and consistent financial performance.
- The Company, some of its Subsidiaries, Promoters, Directors and Group Companies are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on the company business, results of operations and financial condition.
- The company requires certain approvals and licenses in the ordinary course of business and are required to comply with certain rules and regulations to operate its business, any failure to obtain, retain and renew such approvals and licences or comply with such rules and regulations may adversely affect the company operations.
- Introduction of stricter norms regulating the company operation in domestic and overseas market could result in loss due to its inability to meet customer requirement and production schedules, which could materially affect the company business, results of operations and financial condition.
- The company have certain contingent liabilities as stated in the Restated Consolidated Financial Statement, and in the event, they materialize it could adversely affect its financial condition.
- The company has experienced negative cash flows from operating activities and may do so in the future, which could have a material adverse effect on its business, prospects, financial condition, cash flows and results of operations.