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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
| IPO Date | Jun 13, 2019 to Jun 18, 2019 |
| Listing Date | Jun 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 |
| Other Shares Offered | 246,000 (50.00%) |
| Retail Shares Offered | 246,000 (50.00%) |
| Market Maker portion | 30,000 shares |
| Total Shares Offered | 492,000 |
Meera Industries FPO opens on Jun 13, 2019, and closes on Jun 18, 2019.
| Event | Tentative Date |
|---|---|
| Opening Date | Jun 13, 2019 |
| Closing Date | Jun 18, 2019 |
| Basis of Allotment | Jun 21, 2019 |
| Initiation of Refunds | Jun 24, 2019 |
| Credit of Shares to Demat | Jun 25, 2019 |
| Listing Date | Jun 26, 2019 |
| UPI Mandate Confirmation Cut-Off Time | 5.00 PM on the issue closing day |
The Meera Industries FPO lot size is 500 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 500 | ₹112,500 |
| Retail (Max) | 1 | 500 | ₹112,500 |
| Lot Size Calculator | |||
| 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 Jun 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 | Jun 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://karisma.kfintech.com/
Are you an SME company looking for an IPO to raise funds and get listed in the stock market? We can help. Contact us today... SME IPO Enquiry Form
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 Jun 13, 2019, and closes on Jun 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 Jun 13, 2019 and closes on Jun 18, 2019.
Meera Industries FPO lot size is 500 Shares and the minimum order quantity is .
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 Jun 21, 2019, and the allotted shares will be credited to your demat account by Jun 25, 2019. Check the Meera Industries FPO allotment status.
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