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IPO ·
NSE, BSE
Manika Plastech Ltd
Listed
Makes rigid plastic packaging such as battery casings, pails and thin-wall containers for auto, energy, paint and food industries.
Issue details
Price band
₹40 – ₹43
Face value
₹2
Lot size
348 shares
Minimum investment
₹14,964
Issue size
₹125.50 Cr
Fresh issue
₹92.50 Cr
Offer for sale
₹33 Cr
Issue type
Book Built
Exchange
NSE, BSE
Key dates
Opens
11 Sep 2026
Closes
16 Sep 2026
UPI mandate cut-off
5:00 PM on 16 Sep 2026
Allotment
17 Sep 2026
Refunds
18 Sep 2026
Shares in demat
18 Sep 2026
Listing
21 Sep 2026
Subscription and listing
Subscription
20.54x
Listing price
₹43
Registrar
TBA
Lead manager
TBA
Subscription by category
Total
20.54x
Total applications
6,19,876
Anchor investors
Amount raised
₹37.65 Cr
Bid date
10 Sep 2026
50% lock-in ends
17 Oct 2026
Rest lock-in ends
16 Dec 2026
Listing day
Issue price
₹43
Open
₹43.00
High
₹43.50
Low
₹40.85
Day close
₹43.14
Listing gain at open
0.00%
Issue structure
Shares reserved per category and share of the total issue
QIB
1,45,93,022
50.00%
Anchor Investor
87,55,813
30.00%
QIB (Ex. Anchor)
58,37,209
20.00%
NII
43,77,907
15.00%
bNII > ₹10L
29,18,605
10.00%
sNII < ₹10L
14,59,302
5.00%
Retail
1,02,15,116
35.00%
Total
2,91,86,045
100.00%
Finaccle’s quick read
Apply for long term
PAT rose from ₹11.53 Cr to ₹22.40 Cr over two years, with D/E of 0.60 and ROE of 15.18%. Income grew only 6% in FY26, PAT margin is about 5%, and about a quarter of the issue is OFS.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
Manika Plastech makes rigid plastic packaging, such as battery casings, pails and thin-wall containers, as well as automotive components. Its registered office is in Silvassa, and it runs six plants in Dehradun, Hosur, Panipat, Una and Dadra, plus a paint unit in Hosur. It supplies customers in automotive, energy storage, paints and food and dairy across 24 states and UTs, with FY26 income of about ₹437 Cr.
Founded
Promoters
Products and segments
Promoter holding
Financial performance
Period
PAT
ROE
15.18%
ROCE
18.77%
Debt / equity
0.60
PAT margin
5.12%
P/E post issue
9.58
Market cap
₹501.00 Cr
Use of IPO money
Capex for plant and machinery
₹54.93 Cr
Repayment/prepayment of borrowings
₹15.00 Cr
General corporate purposes
₹11.71 Cr
Offer expenses
₹14.72 Cr
Strengths
✓
Three decades of operations across six plants
✓
Diverse customers in auto, batteries, paints and dairy
✓
Top 20 customers have stayed over 10 years on average
✓
EBITDA nearly doubled from FY24 to FY26
✓
Moderate debt/equity of 0.60
Risks to watch
!
Slow income growth of 6% in FY26
!
Thin PAT margin of about 5% in FY26
!
About ₹33 Cr of the ₹125 Cr issue is OFS
!
Exposed to polymer raw material price swings
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.