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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 ₹225.00 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). The minimum lot size investment for 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.
| IPO Date | June 13, 2019 to June 18, 2019 |
| Listing Date | June 26, 2019 |
| Face Value | ₹10 per share |
| Issue Price Final | ₹225 per share |
| Lot Size | 500 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 5,22,000 shares (aggregating up to ₹11.75 Cr) |
| Reserved for Market Maker | 30,000 shares Guiness Securities Ltd. (aggregating up to ₹0.6750 Cr) |
| Net Offered to Public | 4,92,000 shares (aggregating up to ₹11.07 Cr) |
| Issue Type | Fixed Price FPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 28,47,500 shares |
| Share Holding Post Issue | 39,27,500 shares |
Meera Industries FPO offers total 5,22,000 shares. Out of which 2,46,000 (47.13%) allocated to NII, 2,46,000 (47.13%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 30,000 (5.75%) |
| NII (HNI) Shares Offered | 2,46,000 (47.13%) |
| Retail Shares Offered | 2,46,000 (47.13%) |
| Total Shares Offered | 5,22,000 (100.00%) |
Meera Industries FPO opens on June 13, 2019, and closes on June 18, 2019.
| IPO Open Date | Thu, Jun 13, 2019 |
| IPO Close Date | Tue, Jun 18, 2019 |
| Tentative Allotment | Fri, Jun 21, 2019 |
| Initiation of Refunds | Mon, Jun 24, 2019 |
| Credit of Shares to Demat | Tue, Jun 25, 2019 |
| Tentative Listing Date | Wed, Jun 26, 2019 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Jun 18, 2019 |
Investors can bid for a minimum of 500 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 | 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
| Particulars | For the year/period ended (in Rs. Lakhs) | ||
|---|---|---|---|
| 31-Dec-19 | 31-Mar-18 | ||
| Total Assets | 2,166.42 | 1,468.14 | |
| Total Revenue | 3,558.41 | 2,149.66 | |
| Profit After Tax | 494.55 | 240.80 | |
The Company Meera Industries FPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 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 |
[Dilip Davda] <p style="text-align: justify;">Based on its maiden IPO price, it has given attractive returns in the long term and has posted growth in top and bottom lines. However, current FPO is at a higher price than the last traded price of Rs. 208.65. To sail through this FPO, the market operation is not ruled out to lure investors. Hence cash surplus risk savvy investors may consider investment for long term at their own risk.</p> Read detail review...
| Listing Date | June 26, 2019 |
| BSE Script Code | 540519 |
| NSE Symbol | |
| ISIN | INE343X01018 |
| Final Issue Price | ₹225 per share |
| BSE Listing Group | M (Rolling) |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹225.00 |
| Open | ₹222.50 |
| Low | ₹216.00 |
| High | ₹222.50 |
| Last Trade | ₹221.90 |
Meera Industries Ltd.
2126, Road No. 2,
GIDC,
Sachin,
Surat, Gujarat, 394230
Phone: + 91 261 2399114
Email: info@meeraind.com
Website: https://www.meeraind.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://ipostatus.kfintech.com/
Meera Industries FPO is a SME FPO of 5,22,000 equity shares of the face value of ₹10 aggregating up to ₹11.75 Crores. The issue is priced at ₹225 per share. The minimum order quantity is 500.
The FPO opens on June 13, 2019, and closes on June 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 June 13, 2019 and closes on June 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 Tuesday, June 25, 2019. Check the Meera Industries FPO allotment status.
The Meera Industries FPO listing date is on Wednesday, June 26, 2019.
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