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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
Mr. Dharmesh V. Desai and Mrs. Bijal D. Desai are the promoters of the company.
| 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.
| IPO Opening Date | Jun 13, 2019 |
| IPO Closing Date | Jun 18, 2019 |
| Issue Type | Fixed Price Issue FPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹225 per equity share |
| Market Lot | 500 Shares |
| Min Order Quantity | 500 Shares |
| Listing At | BSE SME |
| Issue Size | 522,000 Eq Shares of ₹10 (aggregating up to ₹11.75 Cr) |
The Meera Industries FPO open date is Jun 13, 2019, and the close date is Jun 18, 2019. The issue may list on Jun 26, 2019.
| IPO Open Date | Jun 13, 2019 |
| IPO Close Date | Jun 18, 2019 |
| Basis of Allotment Date | Jun 21, 2019 |
| Initiation of Refunds | Jun 24, 2019 |
| Credit of Shares to Demat Account | Jun 25, 2019 |
| IPO Listing Date | Jun 26, 2019 |
The Meera Industries FPO market 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 (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 500 | ₹112,500 |
| Maximum | 1 | 500 | ₹112,500 |
The Meera Industries FPO is subscribed 1.16x times on Jun 18, 2019 18:49. The public issue subscribed 0.33x in the retail category, in the QIB category, and 1.99x in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | IPO Subscription |
|---|---|
| NII | 1.99x |
| RII | 0.33x |
| Total | 1.16x |
| Listing Date | Wednesday, June 26, 2019 |
| BSE Script Code | 540519 |
| NSE Symbol | |
| Listing In | M Group of Securities |
| ISIN | INE343X01018 |
| IPO Price | ₹225 per equity share |
| Face Value | ₹10 per equity share |
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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/
KFintech Private Limited
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://karisma.kfintech.com/
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 equity share. The minimum order quantity is 500 Shares.
The FPO opens on Jun 13, 2019, and closes on Jun 18, 2019.
KFintech Private 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 500 Shares.
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.
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