2024-03-01 03:13:57
New Delhi: Fish production is increasing in the country. Along with this, export of fishes is also increasing. Fish farming has taken the business of millions of fish farmers in the country to new heights. Do you know which is the biggest company manufacturing fish char or fish meal in the country? If you don’t know then we are telling you. The largest company manufacturing fish meal in India is Mukka Proteins Limited. Its IPO is hitting the stock market next week itself.
When will bidding start?
The IPO of Mukka Proteins Limited is opening on Thursday i.e. 29 February 2024. Investments can be made in this till next Monday, March 4. If you also want to invest in IPO, then this can be a big opportunity for you. The country’s largest fish meal company is going to launch its Rs 225 crore IPO next week. This company is a Coastal Karnataka based company.
What is its price band?
Mukka Proteins Limited has fixed the face value of one share at Re 1 for its IPO. The price band of a share with face value of one rupee has been fixed at Rs 26 to 28. Investors will have to bid for at least 535 shares to invest in this IPO. Above this, bidding will have to be done in multiples of 535 shares.
what does the company do
Talking about the company, Mukka Protein is the largest manufacturer of fish meal and fish oil in the country. Along with this, the company also exports fish meal to more than 15 countries. Mangalore based company Mukka Protein is one of the biggest companies in the fish protein industry in India. The company manufactures fish meal, fish oil and fish soluble paste, which are essential ingredients in aqua feed, poultry feed and pet food manufacturing. The company has 6 plants in India. According to CRISIL report, mukka protein contributes 45-50% of the total market share in the revenue of fish meal and fish oil industry. The company’s production capacity for fish meal, oil and paste is 1.52 lakh metric tonnes annually.
What is the financial condition of the company?
Talking about the financial condition of the company, there has been a sharp change in the financial condition of the company in the last three years. The company’s revenue from operations grew by 53 percent in FY23. The company’s EBITDA grew at 22 per cent and 40 per cent in FY22 and FY23, respectively. The company’s margin has also increased continuously in the last 3 years.
What is the gray market premium of the company?
Right now there is a delay in opening the IPO of the company. But from now on its coin is circulating in the gray market. On Monday morning, a premium of 53.57 percent was being quoted on one share of Mukka Proteins IPO. Meaning a premium of Rs 15 on a price of Rs 28. Its share is currently trading at Rs 43 in the gray market.