Meir Commodities India Limited has filed its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). As per the company’s DRHP, the IPO, with a face value of ₹10, will consist of fresh 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.
According to the Mumbai-based company, the proceeds from the fresh issue, up to Rs. 48.75 crore, will be used to fund working capital requirements and general corporate purposes. The equity shares are planned to be listed on both the National Stock Exchange of India Limited and BSE Limited.
The IPO is being offered via the book-building process, with no more than 50% of the net offer allocated to qualified institutional buyers. At least 15% of the offer is set aside for non-institutional bidders, and 35% will be allocated to retail individual bidders. The sole book-running lead manager for the offer is Smart Horizon Capital Advisors Private Limited, and KFin Technologies Limited will serve as the registrar.
MEIR, incorporated on May 11, 2018, is a prominent player in the global agricultural commodities trading industry, primarily sugar, khandsari, and allied products. MEIR is a dynamic leader in the agricultural sector, seamlessly integrating manufacturing and trading to deliver top-quality products globally. From production to market, company specialize in sourcing, trading, and distributing essential commodities, driven by a commitment to sustainability and responsible practices. Company’s innovative approach and deep industry expertise enable it to meet the evolving needs of partners and customers worldwide.
Led by Rahil Irfan Iqbal Shaikh, the company has received several industry awards, including “Agri Start-up of the Year 2024” and “Unique Indian MNC 2025” at the Sugar-Ethanol & Bioenergy International Awards.
