Mukka Proteins refiles DRHP with SEBI
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Mukka Proteins has re-filed draft red herring prospectus (DRHP) with Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The company had earlier filed its draft papers with the regulator in March 2022. However, the company shelved its IPO plans that time and withdrew its draft papers.
The IPO size could be anywhere between Rs 175 crore and Rs 200 crore. Proceeds to the tune of Rs 120 crore will be used towards working capital requirements, up to Rs 10 crore for investment in its associate, Ento Proteins, for funding its working capital requirements, besides, 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.
Mukka Proteins is one of the key players of the fish protein industry. The company manufactures fish oil which is used in the production of soap, leather tanneries, and the paint industry.
