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Le Merite Exports IPO is a fixed price issue of ₹48.00 crores. The issue is entirely a fresh issue of 0.64 crore shares of ₹48.00 crore.
Le Merite Exports IPO bidding started from Apr 25, 2022 and ended on Apr 28, 2022. The shares got listed on NSE SME on May 9, 2022.
Le Merite Exports IPO price is ₹75.00 per share . The lot size for an application is 1,600. The minimum amount of investment required by an individual investor (retail) is ₹1,20,000 (1600 shares). The minimum lot size investment for HNI is 2 lots (3,200 shares), amounting to ₹2,40,000.
Fedex Securities Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The market maker of the company is Rikhav Securities Ltd..
Refer to Le Merite Exports IPO RHP for detailed Information.
| IPO Date | April 25, 2022 to April 28, 2022 |
| Listing Date | May 9, 2022 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹75 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 64,00,000 shares (aggregating up to ₹48.00 Cr) |
| Reserved for Market Maker | 3,36,000 shares Rikhav Securities Ltd. (aggregating up to ₹2.52 Cr) |
| Net Offered to Public | 60,64,000 shares (aggregating up to ₹45.48 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,70,81,000 shares |
| Share Holding Post Issue | 2,34,81,000 shares |
Le Merite Exports IPO offers total 64,00,000 shares. Out of which 30,32,000 (47.38%) allocated to NII, 30,32,000 (47.38%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 3,36,000 (5.25%) |
| NII (HNI) Shares Offered | 30,32,000 (47.38%) |
| Retail Shares Offered | 30,32,000 (47.38%) |
| Total Shares Offered | 64,00,000 (100.00%) |
Le Merite Exports IPO opens on April 25, 2022, and closes on April 28, 2022.
| IPO Open Date | Mon, Apr 25, 2022 |
| IPO Close Date | Thu, Apr 28, 2022 |
| Tentative Listing Date | Mon, May 9, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Apr 28, 2022 |
Investors can bid for a minimum of 1,600 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,600 | ₹1,20,000 |
| Retail (Max) | 1 | 1,600 | ₹1,20,000 |
| HNI (Min) | 2 | 3,200 | ₹2,40,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2003, Le Merite Exports Private Limited is engaged in the manufacturing and trading of textile products such as cotton yarn, greige fabric and finished fabric. The company conducts business through three verticals, consisting of manufacturing of yarn, trading of yarn, and trading of greige and finished fabrics. Le Merite Exports Private Limited's former name was Didwaniya Yarn Exports Private Limited. The company offers a wide range of products such as cotton fabric, towel & bed-sheet fabric, polyester and viscose material, apparel fabric, dyed yarn, etc. The company has two subsidiaries namely Le Merite Filament Private Limited and Le Merite Laxmi Spinning Private Limited.
The company exports its products to domestic and international markets, including 52 countries covering 5 continents.
Competitive Strengths:
| Particulars | For the year/period ended (Rs in Lakhs) | ||||
|---|---|---|---|---|---|
| 31-Dec-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | ||
| Total Assets | 17,706.95 | 9,202.17 | 5,626.08 | 5,660.48 | |
| Total Revenue | 37,087.03 | 26,913.44 | 21,728.00 | 18,093.32 | |
| Profit After Tax | 1,586.91 | 705.65 | 314.62 | 112.83 | |
The market capitalization of Le Merite Exports IPO is ₹176.11 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 11.09 |
The company proposes to utilize the Net Proceeds from the issue towards the following objects:
[Dilip Davda] The company is largely doing trading in textile products with third-party contracts. Its major earnings are from exports. Rising margin earnings shown by it over the last three fiscals are surprising and raise eyebrows. In the context of its recent super earnings, its valuations are at the optimum level. The sustainability of such a margin going forward is a major concern. Dependency on third party contracts poses major risks. Government policy on trade with China, and recent clashes with Turkey pose threats for its export earnings. Cash surplus risk seekers may consider parking funds for the medium to long term. Read detail review...
| Listing Date | May 9, 2022 |
| BSE Script Code | |
| NSE Symbol | LEMERITE |
| ISIN | INE0G1L01017 |
| Final Issue Price | ₹75 per share |
| BSE Listing Group | ST |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹75.00 |
| Open | ₹75.00 |
| Low | ₹71.25 |
| High | ₹78.75 |
| Last Trade | ₹78.75 |
Le Merite Exports Ltd.
C B1-104D, Boomerang,
Chandivali Farm Road, Powai,
Andheri (East),
Mumbai, Maharashtra, 400072
Phone: +022 28579209
Email: compliance@lemeriteexports.com
Website: http://www.lemeriteexports.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Le Merite Exports IPO is a SME IPO of 64,00,000 equity shares of the face value of ₹10 aggregating up to ₹48.00 Crores. The issue is priced at ₹75 per share. The minimum order quantity is 1600.
The IPO opens on April 25, 2022, and closes on April 28, 2022.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Le Merite Exports IPO using UPI as a payment gateway. Zerodha customers can apply in Le Merite Exports IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Le Merite Exports IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Le Merite Exports IPO opens on April 25, 2022 and closes on April 28, 2022.
Le Merite Exports IPO lot size is 1600, and the minimum amount required for application is ₹1,20,000.
You can apply in Le Merite Exports IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Le Merite Exports IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Le Merite Exports IPO allotment status.
The Le Merite Exports IPO listing date is on Monday, May 9, 2022.
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