MUKKA PROTEINS IPO Date,GMP,REVIEW ,PRICE AND ALLOTMENT STATUS

IPO Analysis: Mukka Proteins Limited

I. Issue Details:

• IPO Open Date: February 29, 2024
• IPO Close Date: March 4, 2024
• Allotment Date: March 5, 2024
• Listing Date: March 7, 2024 (tentative)
• Lot Size: 150 Shares
• Price Band: ₹ 70 - ₹ 75 per Share
• Face Value: ₹ 10 per Share

II. Company Profile:

Mukka Proteins Limited is a leading manufacturer of fishmeal, fish oil, and related fish-based products in India. They cater to the aqua feed, poultry feed, and pet food industries. The company operates six production facilities across India.

III. Company Fundamentals:

• Revenue Growth: 52.52% (FY23 compared to FY22)
• Profitability: Net Profit Margin - 8.41% (FY23)
• EPS (Earnings Per Share): ₹ 3.24 (FY23)
• Debt-to-Equity Ratio: 0.82 (FY23)
• Gross Profit Margin: 22.35% (FY23)

IV. Objective of the Issue:

• The company aims to raise funds for:
  • Working capital requirements
  • Repayment/prepayment of certain borrowings
  • General corporate purposes

V. Promoters:

• The company is promoted by the MPL Group, with Mr. Chennakesava Reddy Mukka as the Chairman and Managing Director. The promoters have experience in the fish processing industry.

VI. Allotment Structure:

• The issue is divided between Retail Individual Investors (50%), Qualified Institutional Buyers (QIBs) (35%), and Non-Institutional Investors (15%).

VII. Peer Group Comparison:

Mukka Proteins competes with other fishmeal and fish oil producers in India. A comparison of key financial metrics with its peers can be found in the DRHP (Draft Red Herring Prospectus).

VIII. Company Financials (Last 3 Years):

• Sales (Cr):
  • FY23: ₹ 1,183.80
  • FY22: ₹ 770.53
  • FY21: ₹ 5,492.48
• Revenue Growth:
  • FY23: 52.52%
  • FY22: 40.42%
  • FY21: N/A
• Profit After Tax (Cr):
  • FY23: ₹ 32.98
  • FY22: ₹ 47.53
  • FY21: ₹ 27.45

IX. Risks & Challenges:

• Dependence on raw material availability and weather conditions.
• Fluctuations in fishmeal and fish oil prices.
• Competition from domestic and international players.
• Regulations related to the fishing industry and environmental impact.

X. Should You Apply for the IPO?

Mukka Proteins demonstrates consistent revenue growth and improving profitability. The P/E ratio based on the upper price band is 9.3x, which appears fairly valued compared to some industry peers. However, the company's profit margin is lower than some competitors.

Considering the information above, the decision to invest in the IPO is up to your individual risk tolerance and investment goals. It's crucial to conduct your own research and consult with a financial advisor before making any investment decisions.

XI. How to Apply for the IPO through Angel Broking:

These steps are generally applicable for IPO applications through Angel Broking, but the specific process might vary:

1. Ensure you have an active Demat and Trading Account with AngeloNE.
2. Access the IPO section on the Angel Broking platform and locate Mukka Proteins Limited IPO.
3. Review the IPO details and eligibility criteria.
4. Enter the desired number of shares and place your bid within the price band.
5. Carefully review and confirm your application details before submitting.

                  

                      APPLY NOW 

XII. Why Apply for the IPO? (Optional):

• Potential for growth in the fishmeal and fish oil industry.
• Investment in a leading player in the Indian market.
• Relatively lower P/E ratio compared to some competitors.

Disclaimer: This analysis is for informational purposes only and should not be construed as financial advice. Please consult with a qualified financial advisor before making any investment decisions.