Mukka Proteins has submitted a new draft red herring prospectus to the SEBI for an IPO to raise funds. The company, which leads India’s fish protein industry, intends to offer up to eight crore shares, with a face value of Re1, in a fresh issue. At least 35% will be available to retail individual bidders, while up to INR10 crore ($1.3m) will be invested in Mukka’s associate, Ento Proteins Private Limited. More than 50% of the issue will be open to allocation to qualified institutional buyers. The company’s DRHP shows it made INR770.5 crore in revenue in FY22, up 27.6% YoY.