🚀 Meir Commodities India Files for IPO: Aims to Raise Funds for Growth!

Meir Commodities India Ltd has submitted its draft red herring prospectus (DRHP) to SEBI for an initial public offering (IPO), aiming to raise funds for expansion.

📌 IPO Details:
🔹 Fresh Issue: 52.94 lakh shares
🔹 Offer-for-Sale (OFS): 35.29 lakh shares by promoter Rahil Irfan Iqbal Shaikh
🔹 Fund Utilization: ₹48.75 crore will go toward working capital & corporate needs

🌾 About Meir Commodities India

Established in 2018, the Mumbai-based company specializes in B2B trading of agricultural commodities, primarily sugar, khandsari, and allied products. Acting as an intermediary between sugar mills and distributors, the company ensures efficient supply chain management.

🔹 Product Portfolio: Sugar, rice, pulses, spices & more
🔹 Global Reach: Exports to 15+ countries, including UAE, Turkey, Singapore, UK & Europe
🔹 Imports: Pulses & spices from Tanzania, Russia, South Africa, UAE, Canada & Singapore

📈 Growth & Expansion

Meir has expanded via acquisitions, strengthening its procurement & logistics network:
✅ Shri Agri Trade Ltd (UAE) – 99.90% stake (acquired in 2022)
✅ Shree Comtrade – 90% stake
✅ Shree Salasar Agriculture India Ltd – 90.10% stake
✅ Shree Agri Logistics – 25% stake

💰 Financial Snapshot

📊 FY24 Revenue: ₹910.65 crore
📊 FY24 PAT: ₹7.87 crore
📊 H1 FY25 Revenue (as of Sept 30, 2024): ₹541.64 crore
📊 H1 FY25 PAT: ₹2.27 crore

💼 Smart Horizon Capital Advisors is the sole book-running lead manager for the IPO. The company’s shares are set to be listed on NSE & BSE.

📢 Stay tuned for more updates on this IPO! 🚀