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Meera Industries FPO is a fixed price issue of Rs 11.75 crores.
Meera Industries FPO bidding started from June 13, 2019 and ended on June 18, 2019. The allotment for Meera Industries FPO was finalized on Friday, June 21, 2019. The shares got listed on BSE SME on June 26, 2019.
Meera Industries FPO price is ₹225 per share. The minimum lot size for an application is 500 Shares. The minimum amount of investment required by retail investors is ₹112,500.
Aryaman Financial Services Limited is the book running lead manager of the Meera Industries FPO, while Kfin Technologies Limited is the registrar for the issue.
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 |
| Price | ₹225 per share |
| Lot Size | 500 Shares |
| Total Issue Size | 522,000 shares (aggregating up to ₹11.75 Cr) |
| Issue Type | Fixed Price Issue FPO |
| Listing At | BSE SME |
| Share holding pre issue | 2,847,500 |
| Share holding post issue | 3,927,500 |
| Market Maker portion | 30,000 shares |
Meera Industries FPO offers 522,000 shares. 246,000 (47.13%) to NII, 246,000 (47.13%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 30,000 (5.75%) |
| Other Shares Offered | 246,000 (47.13%) |
| Retail Shares Offered | 246,000 (47.13%) |
| Total Shares Offered | 522,000 (100%) |
Meera Industries FPO opens on June 13, 2019, and closes on June 18, 2019.
| IPO Open Date | Thursday, June 13, 2019 |
| IPO Close Date | Tuesday, June 18, 2019 |
| Basis of Allotment | Friday, June 21, 2019 |
| Initiation of Refunds | Monday, June 24, 2019 |
| Credit of Shares to Demat | Tuesday, June 25, 2019 |
| Listing Date | Wednesday, June 26, 2019 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 18, 2019 |
Investors can bid for a minimum of 500 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 500 | ₹112,500 |
| Retail (Max) | 1 | 500 | ₹112,500 |
| Lot Size Calculator | |||
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 Objects of the Issue are to:
(a) Fund expansion of manufacturing facilities at Sachin, Surat; and
(b) Fund expenditure for General Corporate Purposes.
[Dilip Davda]
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.
Read detail review...The Meera Industries FPO is subscribed 1.16 times on June 18, 2019 6:49:04 PM. 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) |
|---|---|
| Other | 1.99 |
| Retail | 0.33 |
| Total | 1.16 |
| Listing Date | June 26, 2019 |
| BSE Script Code | 540519 |
| NSE Symbol | |
| ISIN | INE343X01018 |
| Final Issue Price | ₹225 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹225.00 |
| ₹222.50 |
| ₹216.00 |
| ₹222.50 |
| ₹221.90 |
Meera Industries Limited
2126, Road No. 2,
GIDC, Sachin,
Surat, Gujarat - 394230
Phone: + 91 261 2399114
Email: info@meeraind.com
Website: https://www.meeraind.com/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://kosmic.kfintech.com/ipostatus/
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Meera Industries FPO is a SME FPO of 522,000 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 Shares.
The FPO opens on June 13, 2019, and closes on June 18, 2019.
Kfin Technologies Limited is the registrar for the FPO. The shares are proposed to be listed on BSE SME.
The Meera Industries FPO opens on June 13, 2019 and closes on June 18, 2019.
Meera Industries FPO lot size is 500 Shares, and the minimum amount required is ₹112,500.
You can apply in Meera Industries FPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, 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.
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