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Agriculture Player MEIR Commodities Files DRHP

MEIR Commodities India, a rapidly expanding player in the agricultural commodities trading sector, has officially filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company seeks to launch an Initial Public Offering (IPO) through a combination of a fresh issue and an offer for sale (OFS), marking its foray into the public markets.

MEIR Commodities IPO Details

The IPO comprises a fresh issue of 52,94,118 equity shares, alongside an OFS of 35,29,412 equity shares, culminating in a total offer size of 88,23,530 equity shares. The offering will be conducted via the book-building process. The IPO’s price band and valuation are not disclosed yet.

Promoter Rahil Irfan Iqbal Shaikh, who currently holds a majority stake in the company, will be partially offloading his holdings through the OFS. His weighted average cost of acquisition per equity share is INR 0.01, as certified by independent chartered accountants.

About MEIR Commodities

Founded on 11 May 2018, MEIR Commodities specializes in domestic and export trading of sugar, khandsari, and allied products, along with a diverse range of agricultural commodities such as rice, pulses, and spices. Acting as a crucial intermediary in the supply chain, the company bridges the gap between producers, sugar mills, and distributors.

With a well-established presence in global trade, MEIR Commodities exports to over 15 countries, including UAE, Turkey, Singapore, and the United Kingdom. The firm also imports pulses and spices from Tanzania, Russia, South Africa, UAE, Canada, and Singapore to cater to domestic demand.

Financial Performance

The company has showcased consistent revenue growth over the years, with a significant presence in both domestic and international markets. The following table highlights its financial trajectory:

	FY 2022	FY 2023	FY 2024	H1 FY 2025
Revenue from India	805.77	1,200.92	780.51	373.61
Revenue from Overseas	192.43	378.06	130.14	168.03
Total Revenue	998.20	1,578.98	910.65	541.64

Figures in INR Crores unless specified otherwise

MEIR Commodities has been the fourth-largest exporter of Khandsari in Fiscal 2024, accounting for 4.20% of total export value and 11.70% of total volume from India, according to a report by Dun & Bradstreet.

Conclusion

MEIR Commodities’ planned IPO underscores its ambition to scale operations, enhance supply chain efficiencies, and leverage global market opportunities. With a strong revenue base, strategic acquisitions, and a diversified product portfolio, the company is poised to capitalize on both domestic and international growth prospects. However, investors must weigh the potential risks against the promising expansion strategies before making investment commitments.

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