Meir Commodities India Ltd has filed preliminary papers with markets regulator Sebi seeking its approval to raise funds through an initial public Offering (IPO). The Mumbai-based company's proposed IPO is a mix of fresh issues 52.94 lakh shares and an offer-for-sale (OFS) of 35.29 lakh shares by promoter Rahil Irfan Iqbal Shaikh, according to the draft red herring prospectus (DRHP) filed on Thursday. Proceeds from the fresh issue to the extent of Rs 48.75 crore will be used for funding working capital requirements and general corporate purposes. Incorporated in 2018, Mier Commodities India is engaged in B2B trading of agricultural commodities, primarily sugar, khandsari, and sugar allied products. Operating as an intermediary, the company connects sugar mills and distributors, ensuring seamless supply chain management. Its diverse product portfolio includes sugar, rice, pulses, spices, and other agricultural commodities, with a strong presence in both domestic and international ...