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Meera Industries Limited FPO (Meera Industries FPO) Detail

Jun 13, 2019 - Jun 18, 2019

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

Company Financials:

Summary of financial Information (Restated)
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

Objects of the Issue:

The Objects of the Issue are to:

(a) Fund expansion of manufacturing facilities at Sachin, Surat; and
(b) Fund expenditure for General Corporate Purposes.

Meera Industries FPO Details

Meera Industries FPO Date Jun 13, 2019 to Jun 18, 2019
Meera Industries FPO Face Value ₹10 per share
Meera Industries FPO Price ₹225 per share
Meera Industries FPO Lot Size 500 Shares
Issue Size522,000 shares of ₹10
(aggregating up to ₹11.75 Cr)
Issue Type Fixed Price Issue FPO
Listing At BSE SME
Company Promoters

Mr. Dharmesh V. Desai and Mrs. Bijal D. Desai are the promoters of the company.

Meera Industries FPO Timeline (Tentative Timetable)

Meera Industries FPO opens on Jun 13, 2019, and closes on Jun 18, 2019. The Meera Industries FPO bid date is from Jun 13, 2019 10.00 A.M. to Jun 18, 2019 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Meera Industries FPO Opening Date Jun 13, 2019
Meera Industries FPO 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
Meera Industries FPO Listing Date Jun 26, 2019

Meera Industries FPO Lot Size

The Meera Industries FPO lot size is 500 shares. A retail-individual investor can apply for up to 1 lots (500 shares or ₹112,500).

Application Lots Shares Amount
Minimum 1 500 ₹112,500
Maximum 1 500 ₹112,500

Meera Industries FPO Review

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.

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Meera Industries FPO Subscription Status (Bidding Detail)

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)

CategorySubscription (times)
NII1.99
Retail0.33
Total1.16

Meera Industries FPO Prospectus

Meera Industries FPO Rating

50
3.8
Rating:Rated 3.8 stars
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Meera Industries FPO Listing Date

Listing Date Wednesday, June 26, 2019
BSE Script Code 540519
NSE Symbol
Listing In M Group of Securities
ISIN INE343X01018
IPO Price ₹225 per share
Face Value ₹10 per share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
BSE SME
₹225.00
₹222.50
₹216.00
₹222.50
₹221.90

Company Contact Information

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/

Meera Industries FPO Registrar

KFin Technologies Limited

Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://karisma.kfintech.com/

Meera Industries FPO Reviews / Ratings

Meera Industries FPO FAQs

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, Edelweiss, 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.

The Meera Industries FPO listing date is on Wednesday, June 26, 2019.
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Meera Industries FPO Message Board

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5 Comments

2. Hiteshji |   Link |Jun 13, 2019 6:02:32 PM
IPO Mentor IPO Mentor (500+ Posts, 300+ Likes)
Avoid all sme IPOs. Make u full, take our money and then go away. Kuch sikho Bhai,...
1. MEdge |   Link |Jun 8, 2019 6:21:32 PM
IPO Guru IPO Guru (1200+ Posts, 1900+ Likes)
This is FPO, company share already trading at 208 at BSE then why FPO asking price is 225?

Though original IPO price was 36, from 36 to 208 in last two years, good returns.
Company target is to move main-board BSE in current FY.
1.2. MEdge |   Link |Jun 10, 2019 10:15:02 PM
IPO Guru IPO Guru (1200+ Posts, 1900+ Likes)
Today trading price increases to 219, it will go up more before FPO subscription end date.
1.3. MEdge |   Link |Jun 17, 2019 5:08:36 PM
IPO Guru IPO Guru (1200+ Posts, 1900+ Likes)
as predicted todays high 250, closed at 240