Fixed Price IPO | ₹48 Cr | Listed at NSE SME | Mon, Apr 25, 2022 - Thu, Apr 28, 2022
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 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) (based on upper price). The minimum lot size for investment in 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 Open
Mon, Apr 25, 2022
IPO Close
Thu, Apr 28, 2022
Issue Price
₹75 per share
Market Cap (Pre-IPO)
₹176.11 Cr
| IPO Date | 25 to 28 Apr, 2022 |
| Listed on | Mon, May 9, 2022 |
| Face Value | ₹10 per share |
| Issue Price | ₹75 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 64,00,000 shares (agg. up to ₹48 Cr) |
| Reserved for Market Maker | 3,36,000 shares Rikhav Securities Ltd. (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 60,64,000 shares (agg. up to ₹45 Cr) |
| Net Offered to Public | 60,64,000 shares (agg. up to ₹45 Cr) |
| Share Holding Pre Issue | 1,70,81,000 shares |
| Share Holding Post Issue | 2,34,81,000 shares |
| NSE Symbol | LEMERITE |
| ISIN | INE0G1L01017 |
Le Merite Exports IPO comprises a total issue size of 64,00,000 shares. The net offer to the public is 60,64,000 shares, after excluding 3,36,000 shares allotted on a firm basis. Of the Net offer 30,32,000 (50.00%) allocated to NII 30,32,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 30,32,000 | 50.00% | 47.38% |
| Retail Shares Offered | 30,32,000 | 50.00% | 47.38% |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,36,000 | 5.25% | |
| Total Shares Offered | 64,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,600 shares and in multiples thereof.
| 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 |
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:
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Meeting incremental working capital requirements | 34.00 |
| 2 | General corporate purposes | 11.00 |
| KPI | |
|---|---|
| ROE | 28.99% |
| ROCE | 43.03% |
| RoNW | 28.99% |
| EBITDA Margin | 3.88% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 41.31 | |
| P/E (x) | 11.09 | |
| Promoter Holding | 99.99% | |
| Market Cap | ₹176.11 Cr. |
The Le Merite Exports IPO is subscribed 15.69 times on April 28, 2022 5:00:00 PM (Day 4). The public issue subscribed 16.1 times in the retail category, [.] times in the QIB category, and 15.27 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 15.27 | 30,32,000 | 4,63,10,400 |
| Retail | 16.1 | 30,32,000 | 4,88,11,200 |
| Total | 15.69 | 60,64,000 | 9,51,21,600 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manager Fees including Underwriting Commission | 0.26 |
| 2 | Brokerage, Selling, Commission and upload fees | 0.05 |
| 3 | Registrar to the Issue | 0.01 |
| 4 | Legal and Other Advisory Services | 0.24 |
| 5 | Advertising and marketing Expenses | 0.80 |
| 6 | Regulators including Stock Exchange | 0.08 |
| 7 | Printing and Distribution of issue stationery | 0.03 |
| 8 | Others, if any (Market making, depositories, marketing fees etc.) | 1.54 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹75.00 |
| Open | ₹75.00 |
| Low | ₹71.25 |
| High | ₹78.75 |
| Last Trade | ₹78.75 |
Lead Manager Reports
Le Merite Exports IPO is a SME IPO of 64,00,000 equity shares of the face value of ₹10 aggregating up to ₹48 Crores. The issue is priced at ₹75 per share. The minimum order quantity is 1600.
The IPO opens on Mon, Apr 25, 2022, and closes on Thu, Apr 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 Mon, Apr 25, 2022 and closes on Thu, Apr 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 Mon, May 9, 2022.
