Mukka Proteins Limited

Mukka Proteins Limited is engaged in the production and export of marine derived protein products, primarily fish meal, fish oil and fish soluble paste. These ingredients serve as key raw material inputs for aqua feed, poultry feed and pet food manufacturers, both within India and overseas. Incorporated in 2003 and headquartered in Mangaluru, Karnataka, the company operates a network of six manufacturing units, four located in India and two in Oman through its subsidiary Ocean Aquatic Proteins LLC, supported by additional blending and storage facilities positioned near the coastline to secure a steady supply of raw material. Its products reach more than ten countries across Asia and the Middle East, and the company has received export recognition from the Marine Products Export Development Authority over multiple years. As of March 2023 the company employed 385 people and held ISO 22000:2018 and ISO 9001:2015 certifications. The company positions itself as one of the leading domestic suppliers of fish meal and related products, commanding a meaningful share of the Indian market, and has also been among the earlier entrants in India to commercialise insect based protein and oil as feed ingredients, an emerging category alongside its core marine protein business. Revenue and profit have grown steadily over the three years preceding the offer, supported by rising demand for animal protein inputs from the aquaculture and poultry sectors.

Ahead of the issue opening, the company raised approximately Rs 67 crore from six anchor investors at the upper end of the price band. Neomile Growth Fund was the largest participant at around Rs 16 crore, followed by Eminence Global Fund at about Rs 11 crore, with Saint Capital Fund, Elara India Opportunities Fund and two other investors each committing roughly Rs 10 crore.