Noida, India – March 7, 2024 – Mukka Proteins, the Indian plant-based protein company, made its much-anticipated debut on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) today. The company’s shares opened at a premium, reflecting investor interest in the burgeoning plant-based protein market.
Mukka’s shares debuted at ₹44 on the BSE, a 57.14% premium over its issue price of ₹28. On the NSE, the shares opened at ₹40, a 42.86% premium. While both exchanges witnessed a positive opening, the initial surge fell short of the 125% premium predicted by the grey market, leading to a slight disappointment among some analysts.
“The listing is a positive sign for the company, demonstrating investor confidence in the plant-based protein sector,” said market analyst Amit Sharma. “However, the lower-than-expected premium suggests that the grey market may have been overly optimistic.”
Despite the tempered initial response, Mukka’s debut garnered significant media attention, with several news outlets highlighting the company’s innovative products and its potential to disrupt the traditional protein market.
“We are thrilled to have successfully listed on the stock exchanges,” said Maya, CEO of Mukka Proteins. “This is a major milestone for our company and allows us to further accelerate our growth plans. While the initial premium may be lower than anticipated, we are confident in our long-term vision and remain committed to providing consumers with healthy and sustainable protein options.”
Mukka Proteins’ listing is expected to pave the way for other plant-based protein companies seeking to enter the public market. As the demand for sustainable and healthy food alternatives continues to rise, the future of the plant-based protein industry appears bright.
