Le Merite Exports Limited IPO Detail
Incorporated in 2003, Le Merite Exports Private Limited is engaged in the manufacturing and trading of textile products such as cotton yarn, greige fabric and finished fabric. The company conducts business through three verticals, consisting of manufacturing of yarn, trading of yarn, and trading of greige and finished fabrics. Le Merite Exports Private Limited's former name was Didwaniya Yarn Exports Private Limited. The company offers a wide range of products such as cotton fabric, towel & bed-sheet fabric, polyester and viscose material, apparel fabric, dyed yarn, etc. The company has two subsidiaries namely Le Merite Filament Private Limited and Le Merite Laxmi Spinning Private Limited.
The company exports its products to domestic and international markets, including 52 countries covering 5 continents.
Competitive Strengths:
- Experienced management team with a proven track record and dedicated employee base.
- Low Capex operational model.
- Long standing association with low customer concentration.
- Deep knowledge and understanding of optimal product assortment.
- Strong supplier network.
- Diversification into Organic and Sustainable Eco-Friendly Textiles.
Company Promoters
Abhishek Lath and Umashankar Lath are the company promoters.IPO Details
| IPO Opening Date | Apr 25, 2022 |
| IPO Closing Date | Apr 28, 2022 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹75 per equity share |
| Market Lot | 1600 Shares |
| Min Order Quantity | 1600 Shares |
| Listing At | NSE SME |
| Issue Size | ₹48.00 Cr |
| Fresh Issue | - |
| Offer for Sale | - |
| Retail Portion | 50% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | - | - | 0.57x | 1.21x | 0x | |
| Day 2 | - | - | 1.09x | 3.74x | 2.41x | |
| Day 3 | - | - | 1.88x | 6.87x | 4.37x | |
| Day 4 | - | - | 15.27x | 16.06x | 15.67x |
IPO Tentative Timetable
The Le Merite Exports Limited IPO open date is Apr 25, 2022, and the close date is Apr 28, 2022. The issue may list on May 10, 2022.
| IPO Open Date | Apr 25, 2022 |
| IPO Close Date | Apr 28, 2022 |
| Basis of Allotment Date | May 05, 2022 |
| Initiation of Refunds | May 06, 2022 |
| Credit of Shares to Demat Account | May 09, 2022 |
| IPO Listing Date | May 10, 2022 |
IPO Lot Size
The Le Merite Exports Limited IPO market lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹120000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1600 | ₹120000 |
| Maximum | 1 | 1600 | ₹120000 |
IPO Promoter Holding
| Pre Issue Share Holding | 99.99% |
| Post Issue Share Holding |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Dec-21 | 17706.95 | 37087.03 | 1586.91 |
| 31-Mar-21 | 9202.17 | 26913.44 | 705.65 |
| 31-Mar-20 | 5626.08 | 21728.00 | 314.62 |
| 31-Mar-19 | 5660.48 | 18093.32 | 112.83 |
Objects of the Issue:
The company proposes to utilize the Net Proceeds from the issue towards the following objects:
- Meeting incremental working capital requirements.
- General corporate purposes.
Le Merite Exports Limited IPO Registrar:
Bigshare Services Pvt Ltd
Le Merite Exports Limited IPO Lead Manager(s):
Fedex Securities Limited (Past IPO Performance)
Company Contact Information:
Le Merite Exports Limited
C B1-104D, Boomerang, Chandivali Farm Road, Powai,
Andheri (East)
Mumbai
