Meir Commodities India has filed preliminary papers with markets regulator -- Securities and Exchange Board of India (SEBI) -- seeking its approval to raise funds through an initial public Offering (IPO). The equity shares are proposed to be listed on the National Stock Exchange of India and BSE.
The proposed IPO is a mix of fresh issues 52.94 lakh shares and an offer-for-sale (OFS) of 35.29 lakh shares by promoter Rahil Irfan Iqbal Shaikh. Proceeds from the fresh issue to the extent of Rs 48.75 crore will be used for funding working capital requirements and general corporate purposes. Smart Horizon Capital Advisors is the sole book-running lead manager of the issue.
Incorporated in 2018, Meir Commodities India is engaged in B2B trading of agricultural commodities, primarily sugar, khandsari, and sugar allied products. Operating as an intermediary, the company connects sugar mills and distributors, ensuring seamless supply chain management.
| Company Name | CMP |
|---|---|
| Redington | 234.90 |
| Adani Enterprises | 2218.35 |
| Amrapali Industries | 17.53 |
| Rashi Peripheral | 455.25 |
| PDS | 301.45 |
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