Mumbai6 minutes ago
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Mumbai -based export business company Mier Commodity India Limited is preparing to bring an Initial Public Offering i.e. IPO. The company has filed Draft Red Herring Prospects (DRHP) near the Market Regulator Security Exchange Board of India i.e. SEBI.
Mier Commodity Limited will raise Rs 48.75 crore from IPO. The IPO will issue 35.29 lakh offers for four cells and 52.94 lakh new equity shares on a face value of Rs 10. The company exports sugar, Khandsari and the products related to it.
35% of the issue reserved for retail investors For retail investors 35% of the issue, the Reserve Company has placed a reserve for qualified institutional buyers (QIB). Apart from this, 35% share is reserved for non-institutional investors (NII). The company shares will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Export business in more than 15 countries The export of Mier Commodity India Limited Agri Commodities, which started in 2018, does business. Along with sugar -related products, the company exports more than 15 countries such as Tanzania, Russia, South Africa, UAE, Canada and Singapore.
₹ 910.65 crore revenue in FY24 Mier Commodity India Limited has so far generated a consolidate revenue of Rs 910.65 crore in FY 2024. In this, the company’s profit after tax (PAT) was Rs 7.87 crore. In the first 6 months of FY24, the company’s revenue was Rs 541.64 crore and profit (PAT) was Rs 2.27 crore.
What is IPO? When a company releases its shares for the common people for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to increase business. In such a situation, instead of taking loans from the market, the company raises money by selling some shares to public or issuing new share. For this, the company brings IPO.
