Manika Plastech (Mainboard IPO)
📅 Dates: 11-16 September • 💰 Issue Size: ₹125.50 Cr.Complete guide to Manika Plastech Mainboard IPO: latest Grey Market Premium (GMP), live bidding subscription status, price band, lot size, financial report, and investment analysis.
📊 Overview & Key Highlights
| Parameter | Details |
|---|---|
| Issue Type | Mainboard IPO (BSE, NSE) |
| Issue Dates | 11-16 September |
| Price Band | ₹40 to ₹43 |
| Total Issue Size | ₹125.50 Cr. |
| Minimum Market Lot | 348 shares (Min. Inv: ₹14,964) |
| Listing Price (Debut) | ₹53.56 (+₹2.33 (+4.55%) 🚀) |
| Subscription Status | 29.46x (Final / Bidding Closed) |
| Investor Demand Rating | ⭐⭐⭐⭐☆ (4/5 - Strong Demand) |
📅 Tentative Timetable
| IPO Open Date: | September 11, 2026 |
| IPO Close Date: | September 16, 2026 |
| Basis of Allotment: | September 17, 2026 |
| Refunds: | September 18, 2026 |
| Credit to Demat Account: | September 18, 2026 |
| IPO Listing Date: | September 21, 2026 |
📈 Live Subscription Demand
| Category | Subscription Multiplier (x) |
|---|---|
| Qualified Institutional (QIB) | 11.22x |
| Non-Institutional / HNI | 66.58x |
| Retail Individual (RII) | 23.98x |
| Total Subscription | 29.46x (Updated: 07 Oct, 17:39) |
💼 Market Lot & Investment Sizing
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 348 | ₹14,964 |
| Retail Maximum | 13 | 4,524 | ₹1,94,532 |
| S-HNI Minimum | 14 | 4,872 | ₹2,09,496 |
| S-HNI Maximum | 66 | 22,968 | ₹9,87,624 |
| B-HNI Minimum | 67 | 23,316 | ₹10,02,588 |
💰 Financial Summary
| Period Ended | Revenue | Expense | PAT | Assets |
| 2024 | ₹368.76 | ₹352.40 | ₹11.53 | ₹252.93 |
| 2025 | ₹412.59 | ₹387.16 | ₹19.33 | ₹320.99 |
| 2026 | ₹437.26 | ₹406.83 | ₹22.40 | ₹323.69 |
| June 2026 | ₹162.71 | ₹145.16 | ₹13.07 | ₹317.00 |
🎯 Investment Analysis & Verdict
1. Business SummaryManika Plastech manufactures rigid polymer packaging products—including battery casings, pails, and thin-wall containers—serving diverse sectors like automotive, energy storage, paints, and food. The company earns its revenue by providing end-to-end polymer packaging solutions, handling everything from design, raw material sourcing, and manufacturing to heat sealing, labeling, and final delivery.
2. Key Strengths
• Established Pan-India Footprint: Operates 7 manufacturing facilities strategically located across Dehradun, Hosur, Panipat, Una, and Dadra, alongside a dedicated painting facility in Hosur, enabling efficient nationwide logistics.
• Diversified Blue-Chip Clientele: Serves a broad roster of 168 to 242 established industrial and consumer-facing customers across multiple sectors, mitigating single-industry cyclicality risks.
• Integrated Service Model: Offers complete lifecycle solutions from product design to delivery, creating higher customer stickiness and repeat business.
3. Key Risks & Watchouts
• Debt Burden: A significant portion of the IPO proceeds (₹25 crores) is earmarked for debt repayment, highlighting existing leverage that needs to be monitored.
• Capital Intensity: The heavy reliance on funding new plant and machinery (₹59.82 crores) indicates high ongoing capital expenditure requirements to sustain growth.
• Raw Material Volatility: As a polymer processor, the company's margins are vulnerable to fluctuations in crude oil and petrochemical raw material prices.
4. Retail Verdict
Manika Plastech offers a diversified play in the rigid packaging sector backed by a solid manufacturing footprint, but retail investors should carefully weigh the heavy capex and debt-reduction reliance against industry margin pressures before bidding.
🏢 About Manika Plastech | Dates: 11-16 September | Price: ₹40 to ₹43 | Lot: 348
Since its incorporation in 1996, Manika Plastech has been involved in the manufacturing of rigid polymer packaging products. Its product range includes the manufacturing of battery casings, pails, and thin-wall containers used in packaging, industrial, and consumer applications.Manika Plastech provides complete polymer packaging solutions, from design, development, sourcing of raw materials, manufacturing, heat sealing, labelling, and delivery. Moreover, the company operates 7 manufacturing facilities situated in Dehradun, Hosur, Panipat, Una, and Dadra, and 1 painting facility located in Hosur. As of June 2026, the company has served 168 to 242 customers across various industries such as automotive, energy storage, telecommunications, paints, lubricants, agrochemicals, construction chemicals, food, and dairy.
🎯 Objects of the Issue
• Funding the capital expenditure towards purchase of plant and machinery: ₹59.82 Cr• Repayment and/or pre-payment, in part or full, of certain borrowings availed by our Company: ₹25.00 Cr
• General Corporate Purposes
📬 Registrar & Allotment Information
MUFG Intime India Pvt. Ltd. Phone: 022-49186000 Email: [email protected] Website: MUFG Intime India Private Limited💬 Community Discussion & Views
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Disclaimer: All IPO details provided above are for educational and informational purposes only. Readers are advised to consult their financial advisors and review the Red Herring Prospectus (RHP) before investing.
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