Le Merite Exports IPO opens for subscription

MUMBAI: The initial public offering of Le Merite Exports, a manufacturer and trader of textile products, opened on Monday, April 25, with an offer price of Rs 75 per equity share. The Rs 48 crore public offer will close on April 28.

The company is raising funds to part-finance its need for incremental working capital and general corporate purpose. The issue constitutes 27.62% of the post-issue paid-up equity capital of the company. Minimum application to be made is for 1,600 shares and in multiples thereafter.

The shares will be listed on the NSE SME Emerge platform post allotment. The issue is lead managed by Fedex Securities, and Bigshare Services is the registrar of the issue.


The company proposes to increase the scale of operations to cater to such a projected increase in demand by evaluating options to enter into a long-term lease with cotton yarn manufacturing companies having financial and capacity constraints and invest in them through capacity built-up and facility modernization provides expertise in managing these facilities. It would also evaluate opportunities in the polyester manufacturing facility in the coming years.