Mukka Proteins IPO Allotment Status

Mukka Proteins IPO Allotment Status
Mukka Proteins IPO Allotment Status

by Tanushree Jaiswal Last Updated: Mar 05, 2024 - 10:29 am 1000 Views
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About the Mukka Proteins Ltd IPO

The stock of Mukka Proteins Ltd has a face value of ₹1 per share and the price band for the book building IPO has been set in the range of ₹26 to ₹28 per share. The Mukka Proteins IPO will be entirely a fresh issue of shares with no offer for sale (OFS) component. A fresh issue tends to bring in fresh funds into the company, but is also EPS and equity dilutive. On the other hand, OFS is just a transfer of ownership. The fresh issue portion of the IPO of Mukka Proteins Ltd comprises the issue of 8,00,00,000 shares (800 lakh shares), which at the upper price band of ₹28 per share will translate into a fresh issue size of ₹224 crore. In the absence of any offer for sale, the fresh issue will also double up as the overall issue size of the IPO. 

Therefore, the overall IPO of Mukka Proteins Ltd will also comprise of the issue of 8,00,00,000 shares (800 lakh shares) which at the upper end of the price band of ₹28 per share aggregates to total issue size of ₹224 crore. The IPO of Mukka Proteins Ltd will be listed on the NSE and the BSE on the IPO mainboard. The IPO will entirely be a fresh issue and the fresh funds will be used to invest in its associates, Ento Proteins Private Ltd, to fund its working capital needs.

Part of the funds will also be utilized for meeting the working capital needs of Mukka Proteins and for general corporate expenses. Promoters currently hold 100% in the company, which will get diluted post the IPO to 73.33%. The IPO will be lead managed by Fedex Securities Private Ltd, while Cameo Corporate Services Ltd will be the IPO registrar.

How and when to check allotment status online?

How to check the allotment status. Since this is a mainboard IPO, the allotment status can be checked on the BSE Website and also on the website of the IPO registrar, Cameo Corporate Services Ltd in this case. The BSE only offers allotment status in the case of mainboard IPOs and for BSE SME IPOs. If you have applied for the IPO, you can check your allotment status online on the BSE or on the website of the IPO registrar, Cameo Corporate Services Ltd. Here are the steps that you need to follow to check allotment status.

Checking the allotment status of Mukka Proteins Ltd on BSE website

This is a facility available to all mainboard IPOs, irrespective of who the registrar to the issue is. You can still access the allotment status on the website of BSE India as under. Visit the BSE link for the IPO allotment by clicking on the link below. 

https://www.bseindia.com/investors/appli_check.aspx 

Once you reach the page, here are the steps to follow.
    • Under Issue Type – Select Equity Option
    • Under Issue Name – Select Mukka Proteins Ltd   from the drop down box
    • Enter the Application Number exactly as in the acknowledgement slip
    • Enter the PAN (10-digit alphanumeric) number
    • Once this is done, you need to click on the Captcha to verify that you are not a robot
    • Finally click on the Search Button
In the past, while checking the allotment status on the BSE website, it was necessary to input the PAN number and the application Number. However, now BSE has modified the requirements and it is sufficient if you enter any one of these parameters.

The allotment status will be displayed on the screen in front of you informing about the number of shares of Mukka Proteins Ltd   allotted into your demat account. It is always advisable to save a screenshot of the allotment status output for subsequently verifying with the demat account credits on or after 06th March 2024. The stock of Mukka Proteins Ltd  will appear in the demat account (if allotted) under ISIN Number (INE0CG401037).

Checking the allotment status on Cameo Corporate Services Ltd (Registrar to IPO)

Visit the Cameo Corporate Services Ltd registrar website for IPO status by clicking on the link below:

https://ipo.cameoindia.com/

There are three things to remember. Firstly, there also a way to access this page via the home page of Cameo Corporate Services and clicking on the IPO Status link under the Useful Links drop down at the top of the page. Secondly, you can just click on the hyper link given above and directly go to the allotment checking page. The third option, in case you are not able to click on the link, is to copy the link and paste in your web browser.

Once you reach the relevant page as explained above, the first thing you do is to select the company you want to access the allotment status for. The drop down box will only show companies where the allotment status is already finalized. In this case, you can get to see the name of Mukka Proteins Ltd on the list around 05th March 2024 when the allotment status is finalized. Once the company name appears on the drop down, you can click on the company name and go to the next screen.

Input Options to check your allotment status

This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Mukka Proteins Ltd from the dropdown box. The allotment status will be finalized on 05th March 2024, so in this case, you can access the details on the registrar website either late on 05th March 2024 or by middle of 06th March 2024. Once the company is selected from the dropdown box, you have 3 methods to check the allotment status for the IPO. The preferred method, out of the 3 options, can be selected from the same screen by opting for the preferred radio button.

• Firstly, you can search by Beneficiary ID of your demat account. From the page you just need to first select the DP ID / Client ID option. It does not matter whether it is an NSDL account or a CDSL account. All you need to do is to write down the combination of the DP ID and the Client ID in a single string. In the case of NSDL, enter the DP id and Client id in a single string without space. In case of CDSL, just enter the CDSL client number. Remember that the NSDL string is alphanumeric while the CDSL string is a numeric string. The details of your DP and client ID are available in your online DP statement or in the statement of account. After that you can click the Search Button in either cases.

• Secondly, you can access with Application Number / CAF Number. Enter the Application / CAF number and then click on Search Button. Enter the application exactly it is given in the acknowledgement slip given to you post the IPO application process. After that you can click on the Search button to get the details of shares allotted to you in the IPO.

• Thirdly, you can also search by Income Tax PAN number. Once you select PAN (permanent account number) from the dropdown menu, enter your 10-digit PAN number, which is an alphanumeric code. The PAN number will be available on your PAN card or on top of your income tax returns filed. Once you enter the PAN, click on the Search Button.

• In all the 3 cases above, please note that after inputting the details as relevant, there will be a 6-digit captcha that will appear and you must enter the captcha coded exactly as it is. It is fully a numeric captcha and it is meant to confirm that it is not a robotic access. In case you find that the captcha code is not too clear, 

The IPO status with number of shares of Mukka Proteins Ltd allotted will be displayed on the screen. The screen will show the name of the first holder of the demat account, the number of allotted shares, the refund amount (if any), refund mode (cheque / ECS / ASBA) and the query number.

You can save a screenshot of the screen for future reference. Once again, you can verify the demat credit by the close of 22nd February 2024 with the following details viz. (ISIN - INE0CG401037). Remember that the most important factor in assessing your chances of getting allotment is the extent of oversubscription in the IPO. Normally, higher the oversubscription in the IPO, the lower are your chances of getting an allotment. Now, let us look at the extent of oversubscription that the IPO of Mukka Proteins Ltd got.

Subscription response to the IPO of Mukka Proteins Ltd

The response to the IPO of Mukka Proteins Ltd was very strong as the overall issue was subscribed 136.89X at the close of bidding on 04th March 2024, which is well above the median subscription that the Mainboard IPOs have been getting in general. Out of the overall bids received, the retail segment saw 58.36 times subscription and the non-retail HNI / NII portion saw 250.26 times subscription. The QIB portion also saw healthy subscription to the tune of 189.28 times. The table below captures the overall allocation of shares with the oversubscription details as of the close of the IPO on 04th March 2024.

Category Subscription Status
Qualified Institutional Buyers (QIB) 189.28 Times
S (HNI) ₹2 lakhs to ₹10 lakhs 242.48
B (HNI) Above ₹10 lakhs 254.15
Non Institutional Investors (NII) 250.26 Times
Retail Individuals 58.36 Times
Employees Not Applicable
Overall Subscription 136.89 times

Data Source: BSE

The issue has been very strongly subscribed; hence your chances of allotment would proportionately reduce. Investors must keep these calculations in mind while checking the allotment status once it is finalized at the registrar end. Of course, it would eventually depend on the basis of allotment as finalized by the company and approved by exchanges.

The IPO issue is split into QIB, retail and HNI portion in terms of the customer category definition. The break-down of the reservation for  different categories of investors is as under.

Category of Investors Allocation of shares under IPO
Anchor Allocation 2,39,99,565 shares (30.00% of Net Offer size)
QIB Shares Offered 1,60,00,435 shares (20.00% of Net Offer size)
NII (HNI) Shares Offered 1,20,00,000 shares (15.00% of Net Offer size)
Retail Shares Offered 2,80,00,000 shares (35.00% of Net Offer size)
Total Shares Offered 8,00,00,000 shares (100.00% of overall IPO size)

Data Source: BSE

Next steps in the IPO process of Mukka Proteins Ltd

The issue opened for subscription on 29th February 2024 and closed for subscription on 04th Marcy 2024 (both days inclusive). The basis of allotment will be finalized on 05th March 2024 and the refunds will be initiated on 06th March 2024. In addition, the demat credits are expected to also happen on 06th March 2024 and the stock will list on 07th March 2024 on the NSE and the BSE. Mukka Proteins Ltd will test the appetite for such FMCG stocks in India. The credits to the demat account to the extent of shares allotted will happen by the close of 06th March 2024 under ISIN (INE0CG401037). 

Investors would do well to remember that the level of subscription is very material as it determines the chances of getting allotment. Normally, higher the subscription ratio, lower the chances of allotment and vice versa. In this case, the subscription levels have been very high in the IPO; both in the Retail segment and also in the HNI / NII segment. Investors in the IPO need to assess their chances of allotment accordingly. The final status will be known once the basis of allotment is finalized and uploaded for you to check. You can apply the above allotment checking process flow after the basis of allotment is finalized.

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About the Author

Tanushree is a seasoned professional with 6 years of experience in the Fintech and Edtech industry.

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Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
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