Mukka Proteins Limited’s initial public offering (IPO) opened for subscription on February 29, 2024, and will close on March 4, 2024, giving primary market investors just one day to apply. The company has already secured ₹67.20 crore from anchor investors, with the aim of raising a total of ₹224 crore through the issuance of fresh shares.
The IPO price band has been set at ₹26 to ₹28 per equity share. In the first two days of bidding, the IPO was oversubscribed 6.97 times, reflecting strong interest from investors. The grey market premium for Mukka Proteins IPO currently stands at ₹30, up ₹2 from Friday’s level of ₹28. Analysts attribute this bullish sentiment to robust response from primary market investors and positive trends in the broader stock market.
As of 10:36 AM on day 3 of the bidding, the IPO has been subscribed 21.14 times overall. The retail portion has seen 17.87 times subscription, the Non-Institutional Investor (NII) portion 56.78 times, while the Qualified Institutional Buyer (QIB) segment has been subscribed 2.06 times. This indicates significant demand across investor categories.
With positive global market sentiments expected to further boost the Indian stock market, the optimistic outlook for Mukka Proteins IPO in the grey market may persist.
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