Le Merite Exports was incorporated on December 24, 2003. The company is engaged in manufacturing and trading of textile products namely cotton yarn, greige fabric and finished fabric for domestic and export sales.
| Bidding Dates |
|---|
| 25 Apr 2022 - 28 Apr 2022 |
| Subscription |
|---|
| 6.43x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,20,000 | 1 | 1 | 1600 | 6.4 M | ₹75 | 72.74 % | ₹480.0 M | RHP DOC |
Le Merite Exports IPO SUBSCRIPTION STATUS
28 Apr '22Le Merite Exports IPO overall subscription rate was 6.43 times the total available shares
Le Merite Exports IPO retail subscription rate was 9.91 times in the retail segment
Le Merite Exports IPO non-institutional investor subscription rate was 2.94 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
26 Apr 2022 (Day 2) | 3.74x | 1.09x | - |
27 Apr 2022 (Day 3) | 6.87x | 1.88x | - |
28 Apr 2022 (Day 4) | 9.91x | 2.94x | - |
25 Apr 2022 (Day 1) | 1.3x | 0.68x | - |
Le Merite Exports FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) | Margins |
| 9MFY22 | 158.691 | 3700.408 | 37.907 | 19.703 | |
| FY21 | 70.565 | 2683.937 | 27.721 | 25.583 | 3.88% |
| FY20 | 31.462 | 2166.672 | -24.99 | -25.11 | 2.94% |
| FY19 | 11.283 | 1800.12 | -50.004 | -50.224 | 2.41% |
Le Merite Exports IPO SUBSCRIPTION STATUS DETAILS
Le Merite Exports had 6.4 M shares on offer
Le Merite Exports IPO offer price was ₹74.99
Le Merite Exports IPO minimum Investment was ₹120000
Le Merite Exports IPO issue size was ₹ 480.0 M
Le Merite Exports had a minimum lot size of 1600 Shares per application
Le Merite Exports NUMBER OF SHARES ON OFFER
Le Merite Exports IPO IMPORTANT DATES
| Issue Open Date | 25 Apr 2022 |
| Issue close Date | 28 Apr 2022 |
| Allotment Date | 04 May 2022 |
| Refund Date | 05 May 2022 |
| Demat Account Credit Date | 06 May 2022 |
| Listing Date | 09 May 2022 |
| Listing on Exchange(s) | NSE and BSE |
| Le Merite Exports Allotment Status | Exchange |
Le Merite Exports IPO subscription opened on 25 Apr 2022, and closed on 28 Apr 2022
IPO allotment for Le Merite Exports was finalized on Wednesday, 04 May 2022
IPO listing for Le Merite Exports was on NSE and BSE on Monday, 09 May 2022
Le Merite Exports IPO LISTING GAINS
| Issue Price (adjusted) | 15.0 |
| Listing Open Price | 75.0 |
| Listing Close Price | 78.8 |
| Listing Gain% | 0.0% |
| Current Gain% | 56.1% |
Le Merite Exports Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Le Merite Exports Ltd. | 23.4 | 55 | 25.6 | -0.4 | 0.8 | 8.6 | 4.5 | 367.6 | -30.1 | 11.6 | 90.2 | 0.9 | -64.7 |
| KPR Mill Ltd. | 1076.7 | 36803.1 | 42.5 | 6.7 | 5.5 | 15.2 | 12.7 | 6784.3 | 5 | 866.5 | 6.3 | 25.4 | 6.3 |
| Vardhman Textiles Ltd. | 606.8 | 17563.9 | 20.7 | -43.8 | 1.7 | 7.1 | 5.4 | 10092.5 | -0.3 | 745.2 | -15.6 | 29.3 | -0.5 |
| Welspun Living Ltd. | 164.1 | 15738.7 | 77 | -1.1 | 1.7 | 4.2 | 2 | 9467.9 | -11.5 | 204.4 | -68 | 2.1 | -68 |
| Arvind Ltd. | 560.6 | 15249.2 | 36.8 | 2.2 | 1.6 | 10.2 | 4.7 | 9359.5 | 11.5 | 413.9 | 17.1 | 15.2 | 17.1 |
| Trident Ltd. | 25.2 | 12831.6 | 32.5 | -3.5 | 1.9 | 7.9 | 5 | 6775.2 | -3.9 | 377.1 | 2 | 0.8 | -9.4 |
Le Merite Exports INFORMATION ON IPO ISSUE
About Le Merite Exports
Le Merite Exports was incorporated on December 24, 2003. The company is engaged in manufacturing and trading of textile products namely cotton yarn, greige fabric and finished fabric for domestic and export sales.
Object of the Issue
- Meeting incremental working capital requirements;
- General corporate purposes
Le Merite Exports - PROMOTERS
| Name |
|---|
| Abhishek Lath |
| Umashankar Lath |
Le Merite Exports Lead Manager of the Issue
FEDEX Securities Private Limited
mb@fedsec.in
Le Merite Exports Registrar to the issue
Bigshare Services Limited
ipo@bigshareonline.com
Le Merite Exports Strengths
Experienced management team
Experienced management team with a proven track record and dedicated employee base
Low capex operational model
Low capex operational model
Long-standing association with customer
Long-standing association with low customer concentration
Deep knowledge and understanding of optimal product assortment
Deep knowledge and understanding of optimal product assortment and strong supplier network enabling procurement at predicable and competitive pricing, leading to an overall efficient cycle.
Healthy financial performance
Healthy financial performance
Diversification into Organic and Sustainable Eco-Friendly Textiles
Diversification into Organic and Sustainable Eco-Friendly Textiles
Le Merite Exports Risks
Certain agreements may be inadequately stamped
Certain agreements may be inadequately stamped or may not have been registered as a result of which the company's operations may be impaired.
Significant portion of the revenue comes from a few customers
The company derives a significant portion of the revenue from a few customers and the loss of one or more such customers
No long-term agreement or contract of supply of cotton
The company does not have any long-term agreement or contract of supply of cotton and consequently is exposed to price and supply fluctuations for the raw materials
IPO FAQs
Le Merite Exports Ltd. IPO listing opened at Rs 75.00 while the issue price was Rs 74.99 giving 0.01% returns. After adjusting for subsequent bonus and splits, the stock trades at Rs 15.00 giving 56.07% gains since its IPO listing.
The promoters of the company are Abhishek Lath and Umashankar Lath.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 75.0 - 75.0.
The IPO application opens on Apr 25, 2022 and closes on Apr 28, 2022.
The minimum lot size for the IPO is 1600. The maximum lot size for the IPO is 1600.
For all category investors, the minimum application amount for this IPO is Rs. 120,000.0, the maximum value for this IPO is Rs 120,000.0.
This IPO will be allotted on May 04, 2022.
The refund will be credited to your account on May 05, 2022.
The allotted shares will be credited to your demat on May 06, 2022.
Le Merite Exports Ltd.’s shares listed on the stock exchanges on May 09, 2022.