Mukka Proteins shares jump over 57% in debut trade

New Delhi, Shares of Mukka Proteins, which manufactures fish meal, fish oil, and fish soluble paste, on Thursday listed with a premium of over 57 per cent against the issue price of Rs 28. The stock made its debut at Rs 44, up 57.14 per cent on the BSE.

Shares of the company on the NSE, listed at Rs 40, a jump of 42.85 per cent.

The company's market valuation stood at Rs 1,147.20 crore.

The initial share sale of Mukka Proteins received 136.89 times subscription on the last day of bidding on Monday.

The Rs 224-crore Initial Public Offer (IPO) had a price band of Rs 26-28 a share.

Mukka Proteins is one of the key players in India's fish protein sector. Furthermore, fish oil has diverse applications, including pharmaceuticals (particularly in EPA-DHA extraction for nutraceuticals), soap making, leather treatment, and paint manufacturing.

The company distributes its products both domestically and internationally, serving various countries, including Bahrain, Bangladesh, Chile, Indonesia, Malaysia, Myanmar, the Philippines, China, Saudi Arabia, South Korea, Oman, Taiwan, and Vietnam.