What is Merind Limited?

Merind Limited is a pharmaceutical company incorporated in 1958 in Mumbai, Maharashtra. It is a subsidiary of Dartmour Holdings Private Limited and has been operating for over six decades.

Who owns Merind Limited?

Merind Limited is a subsidiary of Dartmour Holdings Private Limited, which is the holding and controlling company.

When was Merind Limited incorporated?

Merind Limited was incorporated on April 4, 1958 as a private limited company. It is based in Mumbai at Readymoney Terrace.

Is Merind Limited listed on any stock exchange?

No. Merind Limited is an unlisted company and its shares are not traded on BSE or NSE.

How do I buy Merind unlisted shares here?

Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.

Who am I actually transacting with?

You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.

How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

How long does settlement take?

After you accept an allocation, you have a short window to pay (typically 2 days). Once payment is verified, shares are usually credited to your demat within 2–3 business days, subject to depository timelines and any company-level restrictions. Timeframes are typical, not guaranteed.

There are no separate platform fee lines and no GST on the transfer — the desk's margin is built into the buy/sell price you're quoted. The only statutory add-on on a purchase is stamp duty on the consideration, shown transparently in your cost breakdown.

Is there a minimum ticket size for Merind?

Minimums vary by company and depend on the lot the desk can source. Raise an enquiry and the desk will confirm the available quantity and the minimum for that name.

What KYC do I need, and do I need a demat account?

You'll share your demat details when you enquire so we can settle directly. Full KYC — PAN and a client-master / demat statement — is required before the transfer step, when shares actually change hands. Yes, you need an active demat account to hold unlisted shares.

Are there lock-ins on unlisted or pre-IPO shares?

Some shares carry statutory or company-imposed lock-ins — for example, a post-listing lock-in on pre-IPO stock — and transfers can be subject to the company's articles or approvals. Where a lock-in applies, we'll flag it before you commit.

How do I sell Merind shares I already hold?

Raise a sell enquiry with the company, quantity and your target price. The desk confirms a buying price, you transfer your shares into the desk's demat, and once the credit is verified we pay you out by bank transfer to your registered account. The desk never pays out before your shares are received.

Unlisted shares are illiquid, may be hard or impossible to sell, and are not covered by exchange settlement guarantees or investor-protection funds. Pricing is indicative, not live. Read the full Risk Disclosure before you enquire, and invest only what you can afford to lock away.

Merind Unlisted Share Price | Buy Merind Pre-IPO Shares — wisefolio

Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

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Merind Unlisted Share Price | Buy Merind Pre-IPO Shares — wisefolio | wisefolio

Investment Thesis

Merind Limited is one of India's older unlisted pharmaceutical companies with a history dating to 1958 and Mumbai as its base. As a subsidiary of Dartmour Holdings Private Limited, its strategic direction is controlled by its parent. While the company's longevity is a positive indicator of resilience, the absence of public financial disclosures and a corporate website limits investor visibility significantly. Investment risk is moderate-to-high given limited transparency.

Pros

Over six decades of operational history since incorporation in 1958 providing significant institutional knowledge in pharmaceuticals
Mumbai headquarters gives access to India's largest pharmaceutical manufacturing and distribution ecosystem
Backed by Dartmour Holdings Private Limited as a parent company, providing corporate stability
Long-standing pharmaceutical company likely to have established product registrations and brand recognition in specific therapeutic areas
Share price of ₹255 indicates the company has retained meaningful book value over its long history

Cons

Unlisted status severely restricts share liquidity; trading only in informal grey markets
Very limited publicly available financial or operational disclosures
No known corporate website indicating minimal recent marketing presence
CIN not publicly traceable, raising questions about current compliance and activity status
Long-established unlisted pharma companies may have outdated product portfolios without investment in new drug development

Business Segments

Pharmaceutical Manufacturing

Manufacturing of pharmaceutical formulations and medicines across therapeutic categories for domestic distribution. Product portfolio likely includes generics established during the company's decades of operation.

API / Bulk Drug

Possible manufacturing or procurement of active pharmaceutical ingredients to support finished dosage form production.

Revenue Model

Merind Limited generates revenue through the manufacturing and sale of pharmaceutical formulations to the Indian domestic market. As a long-established pharma company, revenue is likely derived from branded or generic medicine sales to hospitals, pharmacies, and distributors. The company may also derive income from contract manufacturing for other pharmaceutical companies.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds9

Growth Plans

India's domestic pharmaceutical market growth driven by rising healthcare expenditure and insurance penetration

Established product registrations and brand relationships accumulated over decades

Potential value unlocking if parent company Dartmour Holdings or new investors initiate modernization or listing

Industry Tailwinds

India's domestic pharmaceutical market growth driven by rising healthcare expenditure and insurance penetration

Recent Developments

No significant public developments found

No press releases, news coverage, or regulatory announcements found for this company in the public domain.

Comparable Companies

CompanyTypeTickerMkt Cap

Cipla LimitedListedCIPLA~₹1,20,000 Cr

FDC LimitedListedFDC~₹4,000 Cr

Elder PharmaceuticalsListedELDERPHARM~₹200 Cr

Cipla LimitedListed

CIPLA · ~₹1,20,000 Cr

Frequently Asked Questions

About Merind

Merind Limited is an Indian pharmaceutical company with historical roots as a subsidiary of Merck KGaA (Germany) in India. The company was known as Merck Limited's manufacturing and distribution entity before corporate restructurings in the Indian pharmaceutical sector. Merind has historically been associated with the manufacture and marketing of pharmaceutical formulations and specialty healthcare products. The company operated in the branded pharmaceutical generics segment, producing prescription drugs across therapeutic categories including cardiovascular, metabolic, oncology, and general medicine segments. Its historical association with Merck KGaA gave it access to global research compounds and European manufacturing standards. Over the decades, the Indian pharmaceutical landscape has seen significant M&A activity and restructuring of MNC pharma subsidiaries. Merind Limited has undergone corporate changes as part of broader group reorganisations. Current operational details and financial performance are not prominently available in public databases. As a pharmaceutical entity in India, the company would be subject to Drug Controller General of India (DCGI) licensing requirements and would maintain manufacturing authorisations for its product range. India's pharmaceutical sector is the world's third-largest by volume and a key exporter of generic medicines globally.

Key Milestones

1958 — Incorporated as a private limited company in Mumbai, Maharashtra

Common questions about unlisted shares

How do I buy Merind unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?
Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

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