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Le Merite Exports IPO is a fixed price issue of Rs 48.00 crores.
Le Merite Exports IPO bidding started from April 25, 2022 and ended on April 28, 2022. The shares got listed on NSE SME on May 9, 2022.
Le Merite Exports IPO price is ₹75 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹120,000.
Fedex Securities Pvt Ltd is the book running lead manager of the Le Merite Exports IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
Refer to Le Merite Exports IPO RHP for detailed information.
| IPO Date | April 25, 2022 to April 28, 2022 |
| Listing Date | May 9, 2022 |
| Face Value | ₹10 per share |
| Price | ₹75 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 6,400,000 shares (aggregating up to ₹48.00 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Market Maker portion | 336,000 shares |
Le Merite Exports IPO offers 6,400,000 shares. 3,032,000 (47.38%) to NII, 3,032,000 (47.38%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 336,000 (5.25%) |
| Other Shares Offered | 3,032,000 (47.38%) |
| Retail Shares Offered | 3,032,000 (47.38%) |
| Total Shares Offered | 6,400,000 (100%) |
Investors can bid for a minimum of 1600 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 | 1600 | ₹120,000 |
| Retail (Max) | 1 | 1600 | ₹120,000 |
| Lot Size Calculator | |||
Abhishek Lath and Umashankar Lath are the company promoters.
| Share Holding Pre Issue | 99.99% |
| Share Holding Post Issue |
Incorporated in 2003, Le Merite Exports Private Limited is engaged in the manufacturing and trading of textile products such as cotton yarn, greige fabric and finished fabric. The company conducts business through three verticals, consisting of manufacturing of yarn, trading of yarn, and trading of greige and finished fabrics. Le Merite Exports Private Limited's former name was Didwaniya Yarn Exports Private Limited. The company offers a wide range of products such as cotton fabric, towel & bed-sheet fabric, polyester and viscose material, apparel fabric, dyed yarn, etc. The company has two subsidiaries namely Le Merite Filament Private Limited and Le Merite Laxmi Spinning Private Limited.
The company exports its products to domestic and international markets, including 52 countries covering 5 continents.
Competitive Strengths:
| Particulars | For the year/period ended (Rs in Lakhs) | ||||
|---|---|---|---|---|---|
| 31-Dec-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | ||
| Total Assets | 17,706.95 | 9,202.17 | 5,626.08 | 5,660.48 | |
| Total Revenue | 37,087.03 | 26,913.44 | 21,728.00 | 18,093.32 | |
| Profit After Tax | 1,586.91 | 705.65 | 314.62 | 112.83 | |
The market capitalization of Le Merite Exports IPO is Rs 176.11 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 11.09 |
The company proposes to utilize the Net Proceeds from the issue towards the following objects:
[Dilip Davda] The company is largely doing trading in textile products with third-party contracts. Its major earnings are from exports. Rising margin earnings shown by it over the last three fiscals are surprising and raise eyebrows. In the context of its recent super earnings, its valuations are at the optimum level. The sustainability of such a margin going forward is a major concern. Dependency on third party contracts poses major risks. Government policy on trade with China, and recent clashes with Turkey pose threats for its export earnings. Cash surplus risk seekers may consider parking funds for the medium to long term. Read detail review...
The Le Merite Exports IPO is subscribed 15.69 times on April 28, 2022 5:00:00 PM. The public issue subscribed 16.10 times in the retail category, times in the QIB category, and 15.27 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 15.27 |
| Retail | 16.10 |
| Total | 15.69 |
| Listing Date | May 9, 2022 |
| BSE Script Code | |
| NSE Symbol | LEMERITE |
| ISIN | INE0G1L01017 |
| Final Issue Price | ₹75 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹75.00 |
| ₹75.00 |
| ₹71.25 |
| ₹78.75 |
| ₹78.75 |
Le Merite Exports Limited
C B1-104D, Boomerang,
Chandivali Farm Road, Powai,
Andheri (East), Mumbai - 400072
Phone: +022 28579209
Email: compliance@lemeriteexports.com
Website: http://www.lemeriteexports.com/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
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Le Merite Exports IPO is a SME IPO of 6,400,000 equity shares of the face value of ₹10 aggregating up to ₹48.00 Crores. The issue is priced at ₹75 per share. The minimum order quantity is 1600 Shares.
The IPO opens on April 25, 2022, and closes on April 28, 2022.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Le Merite Exports IPO using UPI as a payment gateway. Zerodha customers can apply in Le Merite Exports IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Le Merite Exports IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Le Merite Exports IPO opens on April 25, 2022 and closes on April 28, 2022.
Le Merite Exports IPO lot size is 1600 Shares, and the minimum amount required is ₹120,000.
You can apply in Le Merite Exports IPO 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 Le Merite Exports IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Le Merite Exports IPO allotment status.
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