Mukka Proteins, a manufacturer of fish protein products, made a remarkable debut in the public market as its shares were listed at Rs 40 on March 7, marking a premium of 42.86 percent over its IPO price of Rs 28.
The strong listing performance aligned well with market expectations, fueled by the robust response to the Mangaluru-based company’s initial public offering (IPO), which was oversubscribed by a staggering 136.99 times.
Non-institutional investors took the lead, subscribing 250.38 times their allocated shares. Qualified institutional buyers also showed strong interest, subscribing 189.28 times, while retail investors bid 58.52 times the shares allocated to them.
The company successfully raised Rs 224 crore through the IPO, which consisted entirely of fresh issue shares. The funds raised are intended to finance the working capital requirements of Mukka Proteins and its affiliate, Ento Proteins, in addition to supporting general corporate objectives.
