Share slipped again after entry
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Mukka Proteins IPO Listing: Fish protein product manufacturing company Mukka Proteins has made a tremendous entry in the market today. The company’s shares were listed at a rise of 57 percent compared to the IPO price. Its shares started trading on BSE at Rs 44 with a gain of 57.14 percent. Whereas, on NSE also the company’s shares were listed at Rs 40, rising by 42.85 percent from the issue price of Rs 28. Thus, the market valuation of the company on the day of listing was Rs 1,147.20 crore. However, shortly after the listing, the company’s stock fell to Rs 39.85 on the Bombay Stock Exchange. Due to this, the profit of investors reduced to only 42 percent.
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IPO opened on March 4
Applications for the IPO of Mukka Proteins started on 29 February. On March 4, the last day of applications, the IPO was subscribed 136.89 times. The price range of Rs 26-28 per share was fixed for the IPO of about Rs 224 crore. Investors in Mukka Proteins IPO had to bid for at least 535 equity shares. Retail investors will get at least Rs 13,910 for this [535 (लॉट आकार) x 26 (निचला मूल्य बैंड)] Had to invest. The bid amount at the upper limit of the price band increased to Rs 14,980.
what does the company do
Mukka Proteins Was established in March 2003. Mukka Proteins Ltd. specializes in the manufacturing of fish protein products. Mukka Proteins Limited exports its products to more than 10 countries. Its export market includes some countries like Bahrain, Bangladesh, Chile, Indonesia, Malaysia, Myanmar, Philippines, China, Saudi Arabia, South Korea, Oman, Taiwan, Vietnam etc. In the financial year ending March 2022 (FY22), the company achieved a net profit of Rs 25.8 crore, which was Rs 11.01 crore more than the previous year. During the same period, revenue from operations saw an increase from Rs 603.8 crore to Rs 770.5 crore. In the first nine months of the financial year ending December 2023 (FY23), the company reported a net profit of Rs 25.6 crore on revenue of Rs 756.4 crore.
,Disclaimer: Investing in stock market or IPO is subject to market risk. Before investing in any share, get complete information from a good financial advisor. We are not encouraging investment in any company.,
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