Ahmedabad, Le Merit Exports Ltd. is involved in manufacturing and trading of textile products like Cotton Yarn, Greig Fabric and Finished Fabric. The company conducts its business through three verticals, including the production of yarn, the trading of yarn and the trading of grades and finished fabrics.
The company offers a wide range of products including cotton fabric, towel and bed sheet fabric, polyester and viscose material, apparel fabric, dyed yarn etc. The company has two subsidiaries, Le Merit Filament Pvt. Ltd. and Le Merit Spinning Pvt. Ltd.
The company is considering increasing the volume of operations to meet such projected increase in demand by evaluating long-term lease options with cotton and yarn manufacturing companies with financial and capacity constraints and by investing in capacity building and modernization of facilities and will also provide expertise in operating these facilities. It will also evaluate opportunities in the polyester manufacturing facility in the coming years.
Led Merit has also started the business of organic yarn under the Cotton Yarn Product Vertical and has started the production of organic yarn keeping in view the growing demand for organic yarn from brands and consumers and the environmental benefits.
It plans to significantly expand the organic yarn business in the coming years and thus expand the vertical of its cotton yarn business. The company aims to double its cotton yarn production by mills and similar non-capex methods by the end of FY2025.
The company is promoted by Abhishek Lath and Umashankar Lath. In order to provide additional working capital and to finance its needs for general corporate purposes, the company has to pay a sum of Rs. Coming with an IPO (initial public offering) of 6400000 equity shares at a fixed price of 75
Through which it will collect a total of Rs 48 crore. Issue for payment will open on April 25, 2022 and close on April 28, 2022. A minimum of 1600 shares must be applied for and then multiples can be applied for. The company holds 27.62% of the paid up capital after the issue.
The shares will be listed on the NSE SME Emerge platform after allotment. This issue is managed by FedEx Securities Pvt. Ltd. Is performed by and BigShare Services Pvt. Ltd. is the Registrar of this issue.