Meera Industries IPO Dates, Size, Allotment, Bid Details, GMP & DRHP
Last Updated Date: Nov 18, 2022Let’s have a detailed review of the company and analytics of the Meera Industries IPO release date, IPO offer price, subscription, Meera Industries IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
Meera Industries IPO Review & Ratings
| IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 7.5/10 |
| Industry Ranking | 7.1/10 |
| Company Background | 7.3/10 |
| Company Reputation | 7.2/10 |
| Competitive Edge | 7.7/10 |
| Financial Statements | 7.1/10 |
| Popularity Index | 7.4/10 |
| Promoters Reputation | 7.7/10 |
| Retail Appetite | 7.1/10 |
| Top Brokers Review | 7.9/10 |
| Overall Ratings | 7.4/10 |
| Star Ratings | ★★★★☆ |
Summary of Meera Industries IPO
The Company is a growing textile machine manufacturer dealing in twisting, cabling, winding and heat setting machines. They design, develop and sell high-performance machines to various processing and manufacturing units in the textile industry.
They provide a combination of designing, manufacturing, testing facilities and after sales support that provides customer delight to the equipment offered by them.
The Promoters of this company are Mr. Dharmesh V. Desai and Mrs. Bijal D. Desai. The lead manager to the issue is Aryaman Financial Services Limited and the Registrar to this issue is Karvy Fintech Private Limited.
From FY 2016-17 to FY 2018-19, as per the Restated Financial Statements
They have consistently grown in terms of our revenues and profits over the part years. In the past three years our standalone revenues have increased from M 1,349.02 lakhs in F. Y. 2016-2017 to M 2,156.63 lakhs in F. Y. 2017-18 and further to M 3,531.07 lakhs in F. Y. 2018-19, showing an increase of approximately 60% and 64%.
The Net Profit after tax for the above mentioned periods are M 125.31 lakhs, M 255.12 lakhs and M 451.80 lakhs, respectively, showing an increase of approximately 104% and 77%. Based on Consolidated Financial Statements, our revenue from operations for the F. Y. 2017-18 and 2018-19 was M 2,194.34 lakhs and M 3,641.34 lakhs respectively. And our Profit after Tax is recorded at M 240.80 lakhs and M 494.55 lakhs for above mentioned periods.
Between F. Y. 2016-17 and F. Y. 2018-19, our total standalone revenue grew at a CAGR of 37.81%, EBITDA grew at a CAGR of 51.65% and PAT grew at a CAGR of 53.34%.
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Meera Industries IPO Date
The opening and the closing date of Meera Industries IPO is not known yet.
Meera Industries IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – | ||||
| 2nd Day – | ||||
| 3rd Day – | ||||
| 4th Day – | ||||
| 5th Day – | ||||
| Shares Offered or Net Issue |
The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.
Meera Industries IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Meera Industries IPO Price Band
The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed.
Meera Industries IPO Equity Share Offering
Issue of 5,22,000 Equity Shares of face value of Rs.10/- each for cash at a price of Rs. [ ] per Equity Share (including a share premium of Rs.[ ] per Equity share) aggregating Rs. [ ] lakhs.
Meera Industries Limited – Company Overview
The Company was originally incorporated as Meera Industries Private Limited on July 05, 2006 with the Registrar of Companies, Gujarat Dadra and Nagar Haveli is a private limited company under the provisions of the Companies Act, 1956.
The Company is a growing textile machine manufacturer dealing in twisting, cabling, winding and heat setting machines. They design, develop and sell high-performance machines to various processing and manufacturing units in the textile industry. The huge repository of knowledge and technology base that our Company has developed since inception is a strong base to outperform the competition and be abreast in the market.
This supports our Company to constantly upgrade the technologies to meet present and futuristic requirements of our customers. They ensure the quality of our products through rigorous testing including testing of sub system before integration and followed by testing of the entire system when assembled. They provide a combination of designing, manufacturing, testing facilities and after sales support that provides customer delight to the equipment offered by them.
The Company has started its own yarn twisting division in Fiscal 2017-18, which includes processing and selling of yarn. Yarn Twisting includes uniting two or more doubled yarn ends to hold the constituent fibres together, thus giving enough strength to the yarn, and also producing a continuous length of yarn. Twisted Yarn processed by them serves medical, automotive and embroidery, etc.
Business strategies of Meera Industries Limited
- Focus on R&D to develop complete systems to enhance the long-term prospects of our Company
- Expand our total Installed Production Capacity and Product Range
- Competitive Pricing
- Operation Excellence
Meera Industries Limited – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Financial Summary of Meera Industries IPO
On the basis of Standalone statement:-
| Amount (in INR & lakhs) | |||
| 31-Mar-19 | 31-Mar-18 | 31-Mar-17 | |
| Total Assets | 2,136.88 | 1,485.79 | 790.99 |
| Total Revenue | 3,531.07 | 2,156.63 | 1,349.02 |
| Total Expense | 2,916.61 | 1,809.95 | 1,188.45 |
| Profit After Tax | 451.80 | 255.12 | 125.31 |
Earnings per Equity Share (in lakhs)
| 31-Mar-19 | 31-Mar-18 | 31-Mar-17 | |
| Basic & Diluted | 11.50 | 6.69 | 4.52 |
From the above statements, one could find that the Meera Industries Limited may perform well.
Meera Industries IPO – Promoters
The Promoter of this company is:
- Mr. Dharmesh V. Desai
- Mrs. Bijal D. Desai
List of Related Parties (Key Managerial Personnel)
- Mr. Dharmesh V. Desai – Chairman & Managing Director
- Mrs. Bijal D. Desai – Wholetime Director
- Mr. Vinod S. Ojha – CFO
- Mr. Shakti A. Motani – Business Development Head
- Mr. Bhavin I. Naik – Import Export Manager
- Ms. Bhavisha K. Khakhkhar – Company Secretary & Compliance Officer
- Mr. Kaunash Desai – Manufacturing Manager
- Mr. Nilesh B. Patel – Manager (Support & Service)
Interest in promotion of the Company
The Company is currently promoted by the promoters in order to carry on its present business. The Promoters are interested in our Company to the extent of their shareholding and directorship in our Company and the dividend declared, if any, by our Company.
Property Interest
The Promoters have confirmed that they do not have any interest in any property acquired by our Company within three years preceding the date of this Draft Prospectus or proposed to be acquired by our Company as on the date of this Draft Prospectus. The Promoters do not have any interest in any transactions in the acquisition of land, construction of any building or supply of any machinery.
Interest in Intellectual Rights of the Company
They are unable to assure that the future viability or value of any of our intellectual property or that the steps taken by them to protect the proprietary rights of our Company will be adequate.
Meera Industries IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Upto 5,22,000 Equity Shares of M 10 each for cash at a price of M [●] per share aggregating M [●] lakhs. |
| Of which: | |
| Reserved for Market Makers | Upto 30,000 Equity Shares of M 10 each for cash at a price of M [●] per share aggregating M [●] lakhs |
| Net Issue to the Public | Upto 4,92,000 Equity Shares of M 10 each for cash at a price of M [●] per share aggregating M [●] lakhs |
| Of which: | |
| Retail Investors Portion | Upto 2,47,200 Equity Shares of M 10 each at a price of M [●] per Equity Share will be available for allocation for Investors of up to M 2.00 lakhs |
| Non-Retail Investors Portion | Upto 2,47,200 Equity Shares of M 10 each at a price of M [●] per Equity Share will be available for allocation for Investors of up to M 2.00 lakhs |
| Equity Shares outstanding prior to the Issue | 39,27,500 Equity Shares |
| Equity Shares outstanding after the Issue | Upto 44,49,500 Equity Shares |
Meera Industries IPO Issue Object
These are the IPO Issue Objects of the company
- Fund expansion of our existing manufacturing facilities at Sachin, Surat; and
- Fund expenditure for General Corporate Purposes
Meera Industries IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Quality Assurance
- Customer Centric Manufacturing
- Qualified and Experienced Management
- Cost Effective Production and Timely Fulfilment of Orders
- Strategic Location of Manufacturing Unit
- Unique Balance Sheet situation of Zero Debt (excluding vehicle loans)
- In-house R&D and Product Innovation
The relevant quantitative factors are:
On the basis of standalone statement:-
| Basic & Diluted EPS | RONW | NAV (Rs.) | |
| 31-Mar-19 | 11.50 | 32.94% | 34.92 |
| 31-Mar-18 | 6.69 | 27.74% | – |
| 31-Mar-17 | 4.52 | 32.98% | – |
- Price to Earnings (P/E) ratio in relation to Issue Price of Rs. [ ]:
| Particulars | P/E ratio |
| Highest | 25.90 |
| Average | 25.00 |
| Lowest | 17.90 |
- Competitive Peers:
| Sr. No. | Particulars | Face Value (in Rs.) | EPS (In Rs.) | P/E Ratio | RONW (%) | NAV (In Rs.) |
| 1 | Meera Industries Limited | 10 | 11.50 | – | 32.94% | 34.92 |
| 2 | Lakshmi Machine Works Limited | 10 | 192.98 | 28.65 | 12.28% | 1,571.49 |
| 3 | Stovec Industries Limited | 10 | 189.48 | 11.56 | 28.01% | 676.26 |
Meera Industries IPO Lead Managers
| Lead Managers |
| ARYAMAN FINANCIAL SERVICES LIMITED 60, Khatau Building, Ground Floor Alkesh Dinesh Modi Marg, Fort, Mumbai – 400 001 Tel: +91 22 6216 6999 Fax No.: +91 22 2263 0434 Email: ipo@afsl.co.in Theybsite: www.afsl.co.in Investor Grievance Email: feedback@afsl.co.in Contact Person: Mr. Pranav Nagar / Mrs. Jyothi Shetty SEBI Registration No.: INM000011344 |
Meera Industries IPO Registrar to offer
| Registrar to the Offer |
| KARVY FINTECH PRIVATE LIMITED Karvy Selenium, Tower-B, Plot No. 31 & 32, Gachibowli, Financial District Nanakramguda, Serilingampally, Hyderabad – 500 032, Telangana Tel No.: +91 40 6716 2222 Fax No.: +91 40 2343 1551 E-mail: einward.ris@karvy.com Investor Grievance E-mail: meeraindustries.fpo@karvy.com Theybsite: https://karisma.karvy.com Contact Person: Mr. M. Murali Krishna SEBI Registration No.: INR000000221 |
Meera Industries IPO Other Details:
- Statutory Auditor – K A Sanghavi & Co. LLP, Chartered Accountants.
- Peer Review Auditor – M/s. K A Sanghavi & Co. LLP, Chartered Accountants.
- Bankers to the Company – Kotak Mahindra Bank Limited
Meera Industries IPO Grey Market Premium
The Meera Industries IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
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Meera Industries IPO News
News 1 – Download DRHP Prospectus
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