Meera Industries FPO Date, Price, GMP, Review & Details
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 heatsetting, 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 Promoters:
Mr. Dharmesh V. Desai and Mrs. Bijal D. Desai are the promoters of the company.
Company Financials:
Summary of financial Information (Restated)
Particulars For the year/period ended (in Rs. Lakhs)
Particulars For the year/period ended 31-Dec-19 31-Ma (ri-n1 8Rs. Lakhs)
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 Ltd Stock Quote & Charts
7D 15D 1M 3M 6M 1Y 18M 2Y
Meera Industries FPO Details
Issue Open Jun 13, 2019 - Jun 18, 2019
Issue Type Fixed Price Issue FPO
Issue Size 522,000 Eq Shares of Rs 10
(aggregating up to Rs 11.75 Cr)
Face Value Rs 10 Per Equity Share
Issue Price Rs 225 Per Equity Share
Market Lot 500 Shares
Min Order Quantity 500 Shares
Listing At BSE SME
Meera Industries FPO Tentative Date / Timetable
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
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
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/
Conclusion / Investment Strategy
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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