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2 min read | Updated on February 28, 2024, 19:55 IST
SUMMARY
Between FY21 and FY23, Mukka Proteins saw a CAGR rise of 24% in its revenue from operations and 62% in its profit. The company’s IPO will open for subscription between 29 February to 4 March 2024.
Mukka Proteins is a leading manufacturer and exporter of fish protein products
The initial public offering (IPO) of Mukka Proteins will open for subscription on Thursday, 29 February 2024 and close on Monday, 4 March 2024. The allocation to anchor investors will be completed on Wednesday, 28 February 2024.
The company, which has set a price band of ₹26-₹28 per equity share, is planning to raise ₹224 crore. The IPO comprises fresh issue of up to 8,00,00,000 equity shares.
Mukka Proteins is involved in the business of manufacturing, supplying and exporting fish protein products. The company produces fish oil, fish meal and animal food.
The company exports its productions to ten nations–including China, Saudi Arabia, Bangladesh, Bahrain, Chile, Malaysia, Indonesia, Myanmar, Philippines, Oman, Taiwan and Vietnam. It has six manufacturing plants - four in India and two in Oman.
Between FY21 and FY23, it saw a CAGR rise of 24% in its revenue from operations and 62% in its profit. Furthermore, the Indian fish meal and fish oil industry is expected to grow at a CAGR of 5% to 9% between FY22 and FY26, which could benefit the company.
The IPO will be a fresh issue, and the money raised will be utilised to fund working capital requirements, invest in associate company, Ento Proteins and for general corporate purposes. Its shares will be listed on the NSE and the BSE.
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