Mehai Technology Limited is engaged in manufacturing of LED Bulbs, Fixtures, Moon Light Bulbs, Tubelights as well as assembling of Pen Drives and Power Banks. Mehai Technology was incorporated in 2013 and in 2014. Mehai Technology Limited commenced manufacture of LED Bulbs and Fixtures. The company will be hitting the exchanges tomorrow with their first IPO. Let’s check the Mehai Technology Limited IPO review in this post.
About Mehai Technology Limited IPO :
- IPO opens on – September 25, 2017
- IPO closes on – September 28, 2017
- Face value – Rs. 10 per equity share
- Issue price – Rs. 40 Per Equity Share.
- Issue type – Fixed Price Issue IPO.
- Minimum lot – 3000 shares.
- Minimum order quantity – 3000 Shares.
- Issue size – 1500000 equity shares of Rs. 10 total aggregating to Rs 6 Crores.
- Listing exchange – BSE SME Exchange.
- DRHP – Download from here.
Objectives of the issue :
- Working capital requirements of the Company.
- General Corporate Purposes.
- Issue Expenses.
About The Company-
- The company sell their products through a set of dealers / distributors who place their order and after receipt of order they cater to their markets.
- Mehai Technology Limited majorly sell through online portals viz Flipkart, eBay, Amazon, Shopclues, PayTM etc.
- They are in process of launching IC based LED bulbs, this will place their brand among reputed LED lighting manufacturers.
- The company progressed into assembling of Pendrives & Power Bank.
- Mehai Technology Limited also manufacturing of Moon Light Bulbs and tubelights.
- The Company is having its registered office at 64, Thatha Muthiappan Street, Broadway, Chennai, Tamil Nadu, India.
- Mehai Technology Limited is prepared and equipped with resources and operational capabilities to serve ever growing needs of the market.
- The company’s top management always lays emphasis on core strength and policies that focus on technology and great deliverance.
- LED tube light market in middle level market is flooded with plastic housing, introducing new models in Aluminium housing LED tubes.
Promoters of the company :
The promoters of the company are Mr.Sudhir Ostwal and Ms. Shalini Jain.
Mehai Technology Limited IPO Review: Very little financial information are available for the company. A sudden jump in profits has been noticed on the FY 2017 with little or no profits in the previous years. There is no previous track record for the merchant banker too. Hence our Mehai Technology Limited IPO review has a NEUTRAL view on this issue. Investors should look for better issues to invest.