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Incorporated in 2006, Meera Industries Ltd (MIL) is engaged in the manufacturing of Yarn Twisting, Winding and Heat-Setting Machine for textile industries. Company's products are sold under the brand name "MEERA".
MIL cater to the domestic market as well as Exports the products to continents like America, South America, Africa, Europe and Asia and major countries like Germany, Spain, Turkey, Thailand, Belgium, USA etc.
They have government recognized in-house R&D Center by Department of Scientific and Industrial Research, Government of India located within the manufacturing unit.
The objects of the Issue are:
1. To purchase additional plant and machineries for the existing manufacturing facility at Surat, Gujarat;
2. Setting up of new manufacturing facility (yarn division) at Surat, Gujarat;
3. Funding of working capital requirements;
4. General Corporate Purpose;
5. Issue Expenses.
| Meera Industries IPO Date | Apr 27, 2017 to May 4, 2017 |
| Meera Industries IPO Face Value | ₹10 per share |
| Meera Industries IPO Price | ₹36 per share |
| Meera Industries IPO Lot Size | 3000 Shares |
| Issue Size | 1,080,000 shares of ₹10 (aggregating up to ₹3.89 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Company Promoters | The promoters of the company are: 1. Dharmesh V. Desai |
The Meera Industries IPO lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹108,000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Minimum | 1 | 3000 | ₹108,000 |
| Maximum | 1 | 3000 | ₹108,000 |
Considering aggressive pricing, only risk savvy cash surplus investors may consider long term investment. Meera Ind IPO review update as on 24.04.2017 First review was based on the final prospectus data and the P/E ratio was mentioned in my review based on the data of page no. 53 of the referred document. Having learnt IPO review on Chittorgarh.com, with the said P/E ratio, management clarified the matter of P/E ratio in comparison with peers in true senses (although none of the companies are in the same business, but are in similar line of business). Following data is taken from the listing destination BSE as on 24.04.2017 eve on the basis of December 2016 working and the closing rates on the 24th of April i.e. Monday. While as per first review its asking price stands at a P/E of 12 plus, the peers are trading in the range of 12.37 to 114.87 P/E and thus the issue is justifiably priced at reasonable levels. Revised Based on this updated review, investors may consider investment in this issue for short to long term. Read detail review...
The Meera Industries IPO is subscribed times on May 3, 2017 5:00:00 PM. The public issue subscribed times in the retail category, times in the QIB category, and times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|
| Listing Date | Monday, May 15, 2017 |
| BSE Script Code | 540519 |
| NSE Symbol | |
| Listing In | M Group of Securities |
| ISIN | INE343X01018 |
| IPO Price | ₹36 per share |
| Face Value | ₹10 per share |
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Meera Industries Ltd
2126, Road NO. 2
GIDC,
Sachin Surat - 394230
Phone: + 91-261-2399114
Email: cs@meeraind.com
Website: http://www.meeraind.com
KFin Technologies Limited
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://karisma.kfintech.com/
Meera Industries IPO is a SME IPO of 1,080,000 equity shares of the face value of ₹10 aggregating up to ₹3.89 Crores. The issue is priced at ₹36 per share. The minimum order quantity is 3000 Shares.
The IPO opens on Apr 27, 2017, and closes on May 4, 2017.
KFin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
The Meera Industries IPO opens on Apr 27, 2017 and closes on May 4, 2017.
Meera Industries IPO lot size is 3000 Shares and the minimum order quantity is .
You can apply in Meera Industries 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, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Meera Industries IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Meera Industries IPO allotment status.
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