Mukka Proteins IPO hit Dalal Street at Rs 40, a premium of 43% to the issue price. The fish-meal and -oil company raised Rs 224 crores from the investors and was entirely a fresh issue of 80 million shares.

In the grey market, the company’s shares were seeing a whopping premium of 125% to the issue price of Rs 28. It is an unofficial market where shares of a company are traded illegally. Market Participants keep an eye on GMP to take cues.  

The company opened its IPO bidding on February 29 with a price band of Rs 26 to 28 per equity share and closed on March 4. A retail investor had to bid for a minimum of 535 shares amounting to Rs 14,980. The shares were listed on both BSE and NSE. The fish meal company collected Rs 67.20 crore from the anchor investors. 

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The company stated that the raised funds will be utilised to fund the working capital requirements of the company; investment in Ento Proteins, and for other general corporate purposes.

Mukka Proteins is a manufacturer and supplier of fish meal, fish oil, and fish soluble paste, which is used as a special ingredient to produce aqua feed, poultry feed, and pet food. The company is a major player in the fish protein industry and exports to over 10 countries such as Bahrain, Saudi Arabia, Chile, etc.

Fedex Securities was sole the book-running lead manager for the issue, while Cameo Corporate Services registrar. Come from Sports betting site VPbet