Mukka Proteins has received the Securities and Exchange Board of India’s (SEBI's) approval to float an initial public offering (IPO). The IPO is an entirely fresh issue of up to 8 crore equity shares.
The company, which refiled the draft red herring prospectus with the SEBI in June 2023, got the regulator’s approval on October 30, 2023. The company proposes to utilize up to Rs 120 crore towards working capital requirements, up to Rs 10 crore for investment in its associate, Ento Proteins, for funding its working capital requirements besides a portion will be used for general corporate purposes. Fedex Securities is the sole book-running lead manager. The equity shares are proposed to be listed on the BSE and NSE.
The company manufactures fish meal, fish oil, and fish soluble paste, an essential ingredient in the manufacturing of aqua feed (for fish and shrimp), poultry feed (for broiler and layer), and pet food (dog and cat food).
