Meir Commodities Filed DRHP With SEBI to Raise Funds Via IPO

Meir Commodities India Ltd has filed the draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds via an initial public offering (IPO). The equity shares of Meir Commodities are expected to be listed on the NSE and BSE Limited.

Meir Commodities India IPO Details

As per the draft red herring prospectus (DRHP), this upcoming IPO comprises a combination of fresh share issues of up to 52.94 lakh shares and an offer-for-sale (OFS) of up to 35.29 lakh equity shares by Rahil Irfan Iqbal Shaikh.

Meir Commodities IPO will be conducted via a book-building process, with up to 50% of the net offer allocated to qualified institutional buyers. Not less than 15% and 35% of the net offer will be allocated to non-institutional and retail individual bidders, respectively. Smart Horizon Capital Advisors Private Ltd serves as the sole book-running lead manager, and Kfin Technologies Ltd will act as the registrar for the public issue.

Use of IPO Proceeds

Meir Commodities India intends to utilise the proceeds from the fresh issue, estimated at up to ₹48.75 crores, for working capital needs and general corporate purposes.

About Meir Commodities Limited

Meir Commodities is involved in the domestic and export trading of B2B agricultural commodities, primarily dealing in sugar, khandsari, and sugar-related products. Established in 2018, the company functions as an intermediary connecting sugar mills and distributors, ensuring efficient supply chain management.

Meir Commodities’ product range includes sugar, rice, pulses, spices, and other agricultural commodities, with a strong presence both domestically and internationally. While most of its sales are through third-party distributors in India, the company exports to 15 countries, including Turkey, Singapore, the UAE, and the UK.

Meir’s extensive supplier network, comprising over 20 long-term partnerships, ensures a steady supply of sugar, khandsari, and related products. The company has grown from handling its first order of 22 metric tons of sugar to processing single orders of up to 68,500 metric tons.

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