Fixed Price FPO | ₹12 Cr | Listed at BSE SME | Thu, Jun 13, 2019 - Tue, Jun 18, 2019
Meera Industries FPO is a fixed price issue of ₹11.75 crores. The issue is entirely a fresh issue of 0.05 crore shares of ₹11.75 crore.
Meera Industries FPO bidding started from Jun 13, 2019 and ended on Jun 18, 2019. The allotment for Meera Industries FPO was finalized on Jun 21, 2019. The shares got listed on BSE SME on Jun 26, 2019.
Meera Industries FPO price is ₹225 per share. The lot size for an application is 500. The minimum amount of investment required by an individual investor (retail) is ₹1,12,500 (500 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (1,000 shares), amounting to ₹2,25,000.
Aryaman Financial Services Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The Market Maker of the company is Guiness Securities Ltd..
Refer to Meera Industries FPO RHP for detailed Information.
FPO Open
Thu, Jun 13, 2019
FPO Close
Tue, Jun 18, 2019
Issue Price
₹225 per share
Market Cap (Pre-IPO)
₹88.37 Cr
| IPO Date | 13 to 18 Jun, 2019 |
| Listed on | Wed, Jun 26, 2019 |
| Face Value | ₹10 per share |
| Issue Price | ₹225 per share |
| Lot Size | 500 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price FPO |
| Listing At | BSE SME |
| Total Issue Size | 5,22,000 shares (agg. up to ₹12 Cr) |
| Reserved for Market Maker | 30,000 shares Guiness Securities Ltd. (agg. up to ₹0.6750 Cr) |
| Fresh Issue (Ex Market Maker) | 4,92,000 shares (agg. up to ₹11 Cr) |
| Net Offered to Public | 4,92,000 shares (agg. up to ₹11 Cr) |
| Share Holding Pre Issue | 28,47,500 shares |
| Share Holding Post Issue | 39,27,500 shares |
| BSE Script Code | 540519 |
| ISIN | INE343X01018 |
Meera Industries FPO comprises a total issue size of 5,22,000 shares. The net offer to the public is 4,92,000 shares, after excluding 30,000 shares allotted on a firm basis. Of the Net offer 2,46,000 (50.00%) allocated to NII 2,46,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 2,46,000 | 50.00% | 47.13% |
| Retail Shares Offered | 2,46,000 | 50.00% | 47.13% |
| Firm Reservations | |||
| Market Maker Shares Offered | 30,000 | 5.75% | |
| Total Shares Offered | 5,22,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 500 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 500 | ₹1,12,500 |
| Retail (Max) | 1 | 500 | ₹1,12,500 |
| HNI (Min) | 2 | 1,000 | ₹2,25,000 |
Incorporated in 2006, Meera Industries Limited is engaged in manufacturing of textile machines such as winding, twisting, heat setting and cabling machines. In addition, the high-performance machines are also designed, developed and sold by the company to other textile manufacturing and processing units. They also provide a testing facility and assistance after sales to maintain a healthy relationship with customers.
The company has its own yarn twisting division which was started in the year 2017-18 to process and sell the yarn. It also exports textile machinery products in South America, Europe, America, Africa, and Asia continents. It has a wholly owned subsidiary named Meera Industries USA LLC located in the State of Northern Carolina to supply products in Canada, the USA and other South American countries.
Meera Industries' manufacturing unit is located at Surat, Gujarat to produce heat-setting, winding, and yarn twisting machine. An R&D Center approved by DSIR (Department of Scientific and Industrial Research) is also located in this manufacturing unit.
The competitive strengths of the company are:
1. Cost effective products
2. Timely order execution
3. Manufacturing unit at a prime location
4. A balance sheet with zero debt
5. In house manufacturing, and R&D unit
| 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 | To purchase additional plant and machineries for the existing manufacturing facility at Surat, Gujarat | 0.90 |
| 2 | Setting up of new manufacturing facility to manufacture yarn at Surat, Gujarat | 0.51 |
| 3 | Funding of working capital requirements of the Company | 1.28 |
| 4 | General Corporate Expenses | 0.90 |
| 5 | Issue Expenses | 0.30 |
The Meera Industries FPO is subscribed 1.16 times on June 18, 2019 6:49:04 PM (Day 4). The public issue subscribed 0.33 times in the retail category, [.] times in the QIB category, and 1.99 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 1.99 | 2,46,000 | 4,90,500 |
| Retail | 0.33 | 2,46,000 | 80,500 |
| Total | 1.16 | 4,92,000 | 5,71,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue Management fees including, fees and reimbursement of underwriting fees, brokerages, payment to other intermediaries such as legal advisor, peer review auditor, Registrar etc. and other out of pocket expenses. | 0.25 |
| 2 | Regulatory and other fees | 0.02 |
| 3 | Other Expenses (printing, stationery expenses, postage etc.) | 0.03 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹225.00 |
| Open | ₹222.50 |
| Low | ₹216.00 |
| High | ₹222.50 |
| Last Trade | ₹221.90 |
Lead Manager Reports
Meera Industries FPO is a SME FPO of 5,22,000 equity shares of the face value of ₹10 aggregating up to ₹12 Crores. The issue is priced at ₹225 per share. The minimum order quantity is 500.
The FPO opens on Thu, Jun 13, 2019, and closes on Tue, Jun 18, 2019.
Kfin Technologies Ltd. is the registrar for the FPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Meera Industries FPO using UPI as a payment gateway. Zerodha customers can apply in Meera Industries FPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Meera Industries FPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Meera Industries FPO opens on Thu, Jun 13, 2019 and closes on Tue, Jun 18, 2019.
Meera Industries FPO lot size is 500, and the minimum amount required for application is ₹1,12,500.
You can apply in Meera Industries FPO 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 Meera Industries FPO will be done on Friday, June 21, 2019, and the allotted shares will be credited to your demat account by Tue, Jun 25, 2019. Check the Meera Industries FPO allotment status.
The Meera Industries FPO listing date is on Wed, Jun 26, 2019.
