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 Date | Jun 13, 2019 - Jun 18, 2019 |
| Issue Type | Fixed Price Issue FPO |
| Issue Size | 522,000 Eq Shares of ₹10 (aggregating up to ₹11.75 Cr) |
| 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 |
| Bid/Offer Opens On | Jun 13, 2019 |
| Bid/Offer Closes On | Jun 18, 2019 |
| Finalisation of Basis of Allotment | Jun 21, 2019 |
| Initiation of Refunds | Jun 24, 2019 |
| Credit of Shares to Demat Acct | Jun 25, 2019 |
| IPO Shares Listing Date | Jun 26, 2019 |
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 500 | ₹112,500 |
| Maximum | 1 | 500 | ₹112,500 |
No. of Times Issue Subscribed (BSE + NSE) | |||
|---|---|---|---|
As on Date & Time | NII | RII | Total |
Shares Offered | 246,000 | 246,000 | 492,000 |
Jun 18, 2019 18:49 | 1.99x | 0.33x | 1.16x |
| Listing Date | Wednesday, June 26, 2019 |
| BSE Script Code | 540519 |
| NSE Symbol | |
| Listing In | M |
| ISIN | INE343X01018 |
| IPO Price | ₹225 Per Equity Share |
| Face Value | ₹10 Per Equity Share |
|
|
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/
Karvy Computershare Private Limited
Karvy Registry House, 8-2-596, St. No. 1,
Banjara Hills, Hyderabad - 500 034
Andhra Pradesh, India
Phone: +91-40-23312454
Email: einward.ris@karvy.com
Website: https://karisma.karvy.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 price of the FPO is ₹225 Per Equity Share. The minimum order quantity is 500 Shares per application and the offer type is Fixed Price Issue.
The FPO opens on Jun 13, 2019 and closes on Jun 18, 2019.
Karvy Computershare 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 application can be done through banks using ASBA online or through stock brokers trading account using UPI. All popular banks i.e. HDFC, ICICI, and SBI offer online IPO applications. An investor can also apply directly through their broker (i.e. Zerodha, Sharekhan) using UPI as a payment method.
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.
Meera Industries FPO lot size is 500 Shares and the minimum order quantity is 500 Shares.
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