This IPO can double your money in 3 days, will you invest?

New Delhi. Mecca Proteins’ IPO, which opened on Thursday, has been well received by investors. Apart from this, the issue of unlisted shares is also making waves in the gray market. The issue shares are trading at a premium of 100 per cent in the gray market (Maca Proteins IPOGMP). Mecca Proteins’ IPO has been subscribed 6.97 times in the first two days. Tomorrow i.e. 4th March is the last day to bid for shares of this issue. The company raised Rs 67.20 crore from anchor investors on Wednesday, February 28.

Makkah Protein is one of the largest fish meal and fish oil companies in the country. It also exports fish meal to more than 15 countries. The company manufactures fish meal, fish oil and fish soluble paste, which is an essential ingredient in the manufacture of aqua feed, poultry feed and pet food. Currently, the company has 6 plants running across the country. The company’s revenue from operations has increased by 53% during the financial year 2022-23. The company’s EBITDA grew by 22 percent and 40 percent in FY22 and FY23 respectively.

Also Read- Huge Profits! Rs 1 lakh turned into Rs 26 lakh in 5 years, do you have a fortune changing stock?

The company will raise Rs 224 crore.
The company aims to raise Rs 224 crore through this IPO. 8 crore new shares will be issued in the issue. The Makkah Proteins IPO price band has been fixed between Rs 26 and Rs 28 per equity share at a price of Rs 1.

There are 535 shares in a lot.
One lot size of Makkah Proteins IPO is 535 equity shares. Retail investors can bid for a maximum of 13 lots. This means that a retail investor has to invest a minimum of Rs 14,980. In the IPO of Makkah Proteins, more than 50% of the shares in issue are reserved for Qualified Institutional Buyers (QIB). 15 percent is reserved for non-institutional investors (NII) and 35 percent for retail investors.

Mecca Proteins IPOGMP
Mecca Proteins’ IPO shares are making waves in the gray market. According to IPOWatch, the unlisted shares of the issue are trading at a premium of Rs 28 today (Maca Proteins IPO GMP). The upper price band of the issue is also Rs.28. This means that the IPO shares can be listed in the stock market at Rs.56.

However, every investor should be aware that IPO shares that are trading at a premium in the gray market are not necessarily listed at a premium in the stock market. The opposite may also happen and IPO investors may face losses rather than profits on listing.

Tags: money making tips, Stock market, IPO