Fixed Price IPO | ₹6 Cr | Listed at BSE SME | Mon, Sep 25, 2017 - Thu, Sep 28, 2017
Mehai Technology IPO is a fixed price issue of ₹6.00 crores. The issue is entirely a fresh issue of 0.15 crore shares of ₹6.00 crore.
Mehai Technology IPO bidding started from Sep 25, 2017 and ended on Sep 28, 2017. The shares got listed on BSE SME on Oct 9, 2017.
Mehai Technology IPO price is ₹40 per share. The lot size for an application is 3,000. The minimum amount of investment required by an individual investor (retail) is ₹1,20,000 (3000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (6,000 shares), amounting to ₹2,40,000.
SPA Capital Advisors 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 Guiness Securities Ltd..
Refer to Mehai Technology IPO RHP for detailed Information.
IPO Open
Mon, Sep 25, 2017
IPO Close
Thu, Sep 28, 2017
Issue Price
₹40 per share
Market Cap (Pre-IPO)
₹21.42 Cr
| IPO Date | 25 to 28 Sep, 2017 |
| Listed on | Mon, Oct 9, 2017 |
| Face Value | ₹10 per share |
| Issue Price | ₹40 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 15,00,000 shares (agg. up to ₹6 Cr) |
| Reserved for Market Maker | 78,000 shares Guiness Securities Ltd. (agg. up to ₹0.3120 Cr) |
| Fresh Issue (Ex Market Maker) | 14,22,000 shares (agg. up to ₹6 Cr) |
| Net Offered to Public | 14,22,000 shares (agg. up to ₹6 Cr) |
| Share Holding Pre Issue | 38,55,000 shares |
| Share Holding Post Issue | 53,55,000 shares |
| BSE Script Code | 540730 |
| ISIN | INE062Y01012 |
Mehai Technology IPO comprises a total issue size of 15,00,000 shares. The net offer to the public is 14,22,000 shares, after excluding 78,000 shares allotted on a firm basis. Of the Net offer 7,11,000 (50.00%) allocated to NII 7,11,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 7,11,000 | 50.00% | 47.40% |
| Retail Shares Offered | 7,11,000 | 50.00% | 47.40% |
| Firm Reservations | |||
| Market Maker Shares Offered | 78,000 | 5.20% | |
| Total Shares Offered | 15,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹1,20,000 |
| Retail (Max) | 1 | 3,000 | ₹1,20,000 |
| HNI (Min) | 2 | 6,000 | ₹2,40,000 |
Incorporated in 2013, Mehai Technology Ltd is engaged into manufacturing of LED Bulbs, Fixtures, Moon Light Bulbs, Tubelights as well as assembling of Pen Drives and Power Banks.
They sell their products through a set of dealers / distributors who place their order and after receipt of order they cater to their markets. They majorly sell through online portals viz Flipkart, eBay, Amazon, Shopclues, PayTM etc.
They are in process of launching IC based LED bulbs, this will place their brand among reputed LED lighting manufacturers. They are also planning to manufacturing of Pen Drives in near term.
| 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 | Working Capital Requirements | 4.68 |
| 2 | General Corporate Purposes | 0.90 |
| 3 | Issue Expenses | 0.42 |
The Mehai Technology IPO is subscribed [.] times on September 28, 2017 5:00:00 PM (Day 4). The public issue subscribed [.] times in the retail category, [.] times in the QIB category, and [.] times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to Merchant Banker including, underwriting and selling commissions, brokerages, Advisors to the Company, payment to other intermediaries such as Legal Advisors, Registrars etc. and other out of pocket expenses. | 0.32 |
| 2 | Advertising and marketing expenses | 0.04 |
| 3 | Printing and stationery expenses, distribution and postage | 0.03 |
| 4 | Regulatory and other expenses including Listing Fee | 0.03 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹40.00 |
| Open | ₹35.10 |
| Low | ₹32.20 |
| High | ₹35.10 |
| Last Trade | ₹34.50 |
Lead Manager Reports
Mehai Technology IPO is a SME IPO of 15,00,000 equity shares of the face value of ₹10 aggregating up to ₹6 Crores. The issue is priced at ₹40 per share. The minimum order quantity is 3000.
The IPO opens on Mon, Sep 25, 2017, and closes on Thu, Sep 28, 2017.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Mehai Technology IPO using UPI as a payment gateway. Zerodha customers can apply in Mehai Technology IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Mehai Technology IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Mehai Technology IPO opens on Mon, Sep 25, 2017 and closes on Thu, Sep 28, 2017.
Mehai Technology IPO lot size is 3000, and the minimum amount required for application is ₹1,20,000.
You can apply in Mehai Technology 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 Mehai Technology IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Mehai Technology IPO allotment status.
The Mehai Technology IPO listing date is on Mon, Oct 9, 2017.
