Mehai Technology IPO is about to debut on 25 September 2017, with an issue size of 6.00CR. Mehai Technology Ltd was established in 2013 and is primarily engaged in the manufacture of a variety of LED products, including bulbs, fixtures, moonlight bulbs, and tube lights. The company is also involved in the assembly of pen drives and power banks. Its products are sold through a network of distributors and dealers who place orders for their respective markets. Mehai Technology Ltd predominantly utilizes online portals, including Flipkart, eBay, Amazon, Shopclues, and PayTM, to sell its products.
The company is currently in the process of developing IC-based LED bulbs, which will enable them to position its brand among other renowned LED lighting manufacturers. Additionally, they plan to expand their offerings by venturing into the manufacturing of pen drives in the near future.
Industry Overview
The Indian government’s focus on rural electrification and energy efficiency has been the driving force behind the lighting market, particularly for CFLs. Various programs such as Rajiv Gandhi Grameen Vidyutikaran Yojana and BYL have been implemented in the past few years, with over 50% of households receiving subsidized replacement of ICL technology with CFL variants. The government is also the largest customer of lighting products for urban housing, airports, railways, and highways.
In his budget speech, Finance Minister Jaitley announced that 100% electrification of villages will be achieved by May 1, 2019, and the government has allocated Rs 4,843 crore for electrification in the financial year 2017-18. This further highlights the government’s commitment to rural electrification and the potential growth of the lighting market, particularly for energy-efficient solutions.
Mehai Technology IPO Details
| IPO Date | Sep 25, 2017 to Sep 28, 2017 |
| Listing Date | Oct 9, 2017 |
| Face Value | ₹10 per share |
| Price | ₹40 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 1,500,000 shares(aggregating up to ₹6.00 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
Company Financials
| FY2014 | FY2015 | FY2016 | FY2017 | |||
| Total revenue | – | 61.5 | 124.4 | 522.4 | ||
| Total expenses | 0.1 | 1.3 | 1.5 | 43.2 | ||
| Profit after tax | 0.0 | 1.1 | 1.5 | 30.7 |
Objects of the Issue
The objects of the Issue are:
1. To meet the working capital requirements of the Company;
2. General Corporate Purposes;
3. Issue Expenses.
Mehai Technology IPO Prospectus
Company Contact Information
Mehai Technology Ltd
64, Thatha Muthiappan Street,
2nd Floor, Broadway,
Chennai � 600001
Phone: 044-43165050
Email: mehai.technology@gmail.com
Website: http://www.mehaitech.com
Mehai Technology IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://www.bigshareonline.com/
Mehai Technology IPO Lead Manager(s)
- Spa Capital Advisors Ltd (Past IPO Performance)
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