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.
Company Financials:
| Particulars | For the year/period ended (Rs in Lakhs) | |||
|---|---|---|---|---|
| 31-Dec-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Assets | 17,706.95 | 9,202.17 | 5,626.08 | 5,660.48 |
| Total Revenue | 37,087.03 | 26,913.44 | 21,728.00 | 18,093.32 |
| Profit After Tax | 1,586.91 | 705.65 | 314.62 | 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 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 | 6,400,000 Eq Shares of ₹10 (aggregating up to ₹48.00 Cr) |
| Retail Shares Offered | 50% of the net offer |
| NII (HNI) Shares Offered | 50% of the net offer |
Le Merite Exports IPO Lot Size
The Le Merite Exports IPO market lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹120,000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1600 | ₹120,000 |
| Maximum | 1 | 1600 | ₹120,000 |
Le Merite Exports IPO Promoter Holding
| Pre Issue Share Holding | 99.99% |
| Post Issue Share Holding |
3rd Party IPO Application
SBI Bank, Axis Bank, Bank of Baroda (BoB), RBL Bank and IndusInd Bank. Know more…
Le Merite Exports IPO Review
The company is largely doing trading in textile products with third-party contracts. Its major earnings are from exports. Rising margin earnings shown by it over the last three fiscals are surprising and raise eyebrows. In the context of its recent super earnings, its valuations are at the optimum level. The sustainability of such a margin going forward is a major concern. Dependency on third party contracts poses major risks. Government policy on trade with China, and recent clashes with Turkey pose threats for its export earnings. Cash surplus risk seekers may consider parking funds for the medium to long term. Read detail review…
Company Contact Information
Le Merite Exports Limited
C B1-104D, Boomerang,
Chandivali Farm Road, Powai,
Andheri (East), Mumbai – 400072
Phone: +022 28579209
Email: compliance@lemeriteexports.com
Website: http://www.lemeriteexports.com/