Upcoming IPO: Mumbai-based Meir Commodities information DRHP with SEBI to lift funds through IPO; Particulars right here

Upcoming IPO: Mumbai-based Meir Commodities India Restricted is presently engaged within the home and export buying and selling of B2B agriculture-based commodities, with a major concentrate on sugar, khandsari and sugar allied merchandise, has filed its Draft Crimson Herring Prospectus (DRHP) with capital markets regulator, Securities and Change Board of India (SEBI) to lift funds by way of Preliminary Public Providing (IPO).

The IPO, with a face worth of ₹10, is a mixture of contemporary problems with shares as much as 52.94 lakh and an offer-for-sale as much as 35.29 lakh fairness shares by Rahil Irfan Iqbal Shaikh.

The proceeds from the contemporary challenge to the extent of Rs. 48.75 crores for funding working capital necessities and common company functions.

The Supply is being made by way of the book-building course of, whereby no more than 50% of the web provide is allotted to certified institutional consumers, and never lower than 15% and 35% of the web provide is assigned to non-institutional and retail particular person bidders respectively.

Mier Commodities India Ltd, included on Might 11, 2018, is engaged in B2B buying and selling of agricultural commodities, primarily sugar, khandsari, and sugar allied merchandise. Working as an middleman, the corporate connects sugar mills and distributors, making certain seamless provide chain administration. Its numerous product portfolio consists of sugar, rice, pulses, spices, and different agricultural commodities, with a robust presence in each home and worldwide markets. Whereas most gross sales are performed by way of third-party distributors in India, Mier additionally exports to over 15 nations, together with the UAE, Turkey, Singapore, the UK, and Europe. Moreover, the corporate imports pulses and spices from nations like Tanzania, Russia, South Africa, UAE, Canada, and Singapore to satisfy buyer demand.

In Fiscal 2024, Mier ranked as India’s fourth-largest exporter of khandsari, holding a 4.2% share by worth and 11.7% by quantity, in line with a D&B Report talked about within the DRHP. The corporate has acquired a number of trade awards, together with “Agri Begin-up of the Yr 2024” and “Distinctive Indian MNC 2025” on the Sugar-Ethanol & Bioenergy Worldwide Awards.

Since its inception, Mier has provided over 13,31,901 metric tons of agricultural merchandise, together with 10,93,839 metric tons domestically and a couple of,38,062 metric tons within the world market. The corporate’s strategic provider community ensures a gradual stream of sugar, khandsari, and allied merchandise, with over 20 suppliers sustaining long-term associations. From dealing with its first order of twenty-two MT of sugar, Mier has scaled as much as processing single orders of 68,500 MT.

To mitigate challenges posed by authorities restrictions on sugar exports, Mier has diversified its operations by increasing home gross sales, providing conventional merchandise reminiscent of khandsari in world markets, and sourcing sugar from Brazil and impartial Indian refineries. The corporate additionally trades rice and pulses, additional strengthening its market presence.

As a part of its progress technique, Mier Commodities India Ltd has expanded its enterprise by way of strategic acquisitions, strengthening its place within the agricultural commodities sector. The corporate acquired 99.90% of the shares in Shri Agri Commerce Restricted (SATCL) in September 2022, making it a Wholly Owned Subsidiary based mostly within the UAE. This acquisition allowed Mier to leverage favorable commerce insurance policies and proceed supplying sugar to worldwide markets regardless of India’s export restrictions. Moreover, Mier holds a 90% stake in Shree Comtrade Personal Restricted (SCPL) and 90.10% in Shree Salasar Agriculture India Restricted (SSAIL), additional enhancing its sourcing and distribution community. The corporate additionally has a 25% stake in Shree Agri Logistics Personal Restricted (SALPL), securing a gradual procurement community and provide chain infrastructure. These acquisitions have considerably contributed to Mier’s skill to scale operations, optimize logistics, and guarantee a constant provide of agricultural merchandise to each home and worldwide clients.

Mier operates by way of its Wholly Owned Subsidiary (SATCL), two subsidiaries (SCPL & SSAIL), and an affiliate firm (SALPL). SATCL, based mostly within the UAE, leverages favorable commerce insurance policies to bypass India’s sugar export restrictions, making certain uninterrupted provide to world clients. In the meantime, SALPL focuses on establishing a gradual procurement community.

Led by Rahil Irfan Iqbal Shaikh, an trade veteran with 18 years of expertise, Mier has positioned itself as a number one participant within the agricultural commodities commerce. With a robust dedication to high quality, traceability, and buyer satisfaction, the corporate goals to develop its world footprint, strengthen manufacturing capabilities, and proceed its progress trajectory within the home and worldwide agricultural buying and selling sector.

Meir Commodities Restricted’s consolidated income from operations and revenue after tax stood at ₹910.65 crore ₹7.87 crore in Fiscal 2024 respectively.

For the six months ended September 30, 2024, income from operations stood at Rs.541.64 crore, and Revenue after tax stood at ₹2.27 crore.

Sensible Horizon Capital Advisors Personal Restricted is the only book-running lead supervisor and Kfin Applied sciences Restricted is the registrar of the problem. The fairness shares are proposed to be listed on the Nationwide Inventory Change of India Restricted and BSE Restricted.