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Meera Industries IPO is a fixed price issue of ₹3.89 crores. The issue is entirely a fresh issue of 0.11 crore shares of ₹3.89 crore.
Meera Industries IPO bidding started from Apr 27, 2017 and ended on May 4, 2017. The shares got listed on BSE SME on May 15, 2017.
Meera Industries IPO price is ₹36.00 per share . The lot size for an application is 3,000. The minimum amount of investment required by an individual investor (retail) is ₹1,08,000 (3000 shares). The minimum lot size investment for HNI is 2 lots (6,000 shares), amounting to ₹2,16,000.
Oneview Corporate Advisors Pvt.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 IPO RHP for detailed Information.
| IPO Date | April 27, 2017 to May 4, 2017 |
| Listing Date | May 15, 2017 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹36 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 10,80,000 shares (aggregating up to ₹3.89 Cr) |
| Reserved for Market Maker | 60,000 shares Guiness Securities Ltd. (aggregating up to ₹0.2160 Cr) |
| Net Offered to Public | 10,20,000 shares (aggregating up to ₹3.67 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 39,27,500 shares |
| Share Holding Post Issue | 50,07,500 shares |
Meera Industries IPO offers total 10,80,000 shares. Out of which 5,10,000 (47.22%) allocated to NII, 5,10,000 (47.22%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 60,000 (5.56%) |
| NII (HNI) Shares Offered | 5,10,000 (47.22%) |
| Retail Shares Offered | 5,10,000 (47.22%) |
| Total Shares Offered | 10,80,000 (100.00%) |
Meera Industries IPO opens on April 27, 2017, and closes on May 4, 2017.
| IPO Open Date | Thu, Apr 27, 2017 |
| IPO Close Date | Thu, May 4, 2017 |
| Tentative Listing Date | Mon, May 15, 2017 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, May 4, 2017 |
Investors can bid for a minimum of 3,000 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 | 3,000 | ₹1,08,000 |
| Retail (Max) | 1 | 3,000 | ₹1,08,000 |
| HNI (Min) | 2 | 6,000 | ₹2,16,000 |
Incorporated in 2006, Meera Industries Ltd (MIL) is engaged in the manufacturing of Yarn Twisting, Winding and Heat-Setting Machine for textile industries. Company's products are sold under the brand name "MEERA".
MIL cater to the domestic market as well as Exports the products to continents like America, South America, Africa, Europe and Asia and major countries like Germany, Spain, Turkey, Thailand, Belgium, USA etc.
They have government recognized in-house R&D Center by Department of Scientific and Industrial Research, Government of India located within the manufacturing unit.
The Company Meera Industries IPO 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 fund expansion of manufacturing facilities at Sachin, Surat | 10.44 |
| 2 | To fund expenditure for General Corporate Purposes | 0.66 |
[Dilip Davda] Considering aggressive pricing, only risk savvy cash surplus investors may consider long term investment. Meera Ind IPO review update as on 24.04.2017 First review was based on the final prospectus data and the P/E ratio was mentioned in my review based on the data of page no. 53 of the referred document. Having learnt IPO review on Chittorgarh.com, with the said P/E ratio, management clarified the matter of P/E ratio in comparison with peers in true senses (although none of the companies are in the same business, but are in similar line of business). Following data is taken from the listing destination BSE as on 24.04.2017 eve on the basis of December 2016 working and the closing rates on the 24th of April i.e. Monday. While as per first review its asking price stands at a P/E of 12 plus, the peers are trading in the range of 12.37 to 114.87 P/E and thus the issue is justifiably priced at reasonable levels. Revised Based on this updated review, investors may consider investment in this issue for short to long term. Read detail review...
| Listing Date | May 15, 2017 |
| BSE Script Code | 540519 |
| NSE Symbol | |
| ISIN | INE343X01018 |
| Final Issue Price | ₹36 per share |
| BSE Listing Group | M |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹36.00 |
| Open | ₹36.00 |
| Low | ₹33.00 |
| High | ₹37.00 |
| Last Trade | ₹36.05 |
Meera Industries Ltd.
2126, Road NO. 2
GIDC,
Sachin Surat
Sachin, Gujarat, 394230
Phone: + 91-261-2399114
Email: cs@meeraind.com
Website: http://www.meeraind.com
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://ipostatus.kfintech.com/
Meera Industries IPO is a SME IPO of 10,80,000 equity shares of the face value of ₹10 aggregating up to ₹3.89 Crores. The issue is priced at ₹36 per share. The minimum order quantity is 3000.
The IPO opens on April 27, 2017, and closes on May 4, 2017.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Meera Industries IPO using UPI as a payment gateway. Zerodha customers can apply in Meera Industries IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Meera Industries IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Meera Industries IPO opens on April 27, 2017 and closes on May 4, 2017.
Meera Industries IPO lot size is 3000, and the minimum amount required for application is ₹1,08,000.
You can apply in Meera Industries 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 Meera Industries IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Meera Industries IPO allotment status.
The Meera Industries IPO listing date is on Monday, May 15, 2017.
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