The initial public offering (IPO) of Mukka Proteins Limited is scheduled for listing on March 7, 2024. Market experts predict a substantial listing gain, estimating it to be above a 100% premium. The expected listing price is projected to fall within the range of ₹60 to ₹66 per share.
The BSE notice confirms the listing and admission of Mukka Proteins’ equity shares for trading on the exchange in the ‘T’ Group of Securities. Additionally, as per SEBI regulations, the stock will be in the Trade-for-Trade segment for the initial 10 trading days.
Market observers note that Mukka Proteins IPO witnessed an impressive subscription of over 137 times. Analyst Dhruv Mudaraddi from Stoxbox anticipates a positive listing, expecting the stock to open at approximately 125% premium to the issue price of ₹28 per share.
Regarding the potential listing price range, Arun Kejriwal, Founder of Kejriwal Research and Investment Services, suggests it could fall between ₹60 to ₹66 per share. He emphasizes that despite the attractive valuations and a robust customer base, investors should consider the stock’s trade-to-trade category status for the first 10 days, limiting trading possibilities during this period.
The Grey Market Premium (GMP) for Mukka Proteins IPO stands at ₹36, indicating around 129% of the IPO’s price band. GMP reflects the market’s expectation of a listing price around ₹64 (₹28 + ₹36), signaling the potential for over a 100% return for IPO allottees.
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