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Informist, Monday, Sept. 21, 2026

MUMBAI – Shares of Manika Plastech Ltd. ended at INR 43.14 on the National Stock Exchange Monday, up 0.3% from the issue price of INR 43. The stock listed at its issue price on the BSE. The intraday high was INR 43.50 while the low was INR 40.85. Over 9 million shares were traded on the NSE during the day.

The public issue comprised a fresh issue of shares of up to INR 925 million and an offer for sale of up to 7.67 million shares. As on the final day of bidding, which ended Wednesday, the public offer was subscribed over 28 times. The issue saw strong demand with bids for nearly 601.8 million shares against 21.39 million shares on offer. Ahead of the offer, the company had raised INR 376.5 million from anchor investors by allotting 8.76 million shares at INR 43 per share.

Manika Plastech is a design-led company manufacturing precision-engineered rigid polymer packaging that caters to diversified critical industries such as energy storage, dairy and edible food products, paints, and chemicals. For the June quarter, it had reported a consolidated net profit of INR 130.72 million on revenues of INR 1.62 billion. For the financial year 2025-26 (Apr-Mar), the company had reported a net profit of INR 224.02 million on revenues of INR 4.36 billion.  (Arundathi A R)

IPO Alert: Manika Plastech listing Mon, issue price set at 43 per share

MUMBAI – Manika Plastech Ltd. will be listed on the bourses Monday. The company has set the issue price at INR 43 per share, the upper end of the price band for its initial public offering. The public issue, which closed Wednesday, was subscribed over 28 times, with bids placed for 601.8 million shares against 21.39 million shares on offer.

The public issue comprises a fresh issue of shares of up to INR 925 million and an offer for sale of up to 7.67 million shares. Ahead of the offer, the company had raised INR 376.5 million from anchor investors by allotting 8.76 million shares at INR 43 per share.

Manika Plastech is a design-led company manufacturing precision-engineered rigid polymer packaging that caters to diversified critical industries such as energy storage, dairy and edible food products, paints, and chemicals. For the June quarter, it had reported a consolidated net profit of INR 130.72 million on revenues of INR 1.62 billion. For the financial year 2025-26 (Apr-Mar), the company had reported a net profit of INR 224.02 million on revenues of INR 4.36 billion.  (Diksha Singh)

IPO Alert: Manika Plastech offer ends with over 28 times subscription

Informist, Wednesday, Sept. 16, 2026

NEW DELHI – Manika Plastech Ltd.'s initial public offering was subscribed over 28 times as on the final day of bidding Wednesday. The issue saw robust demand with bids for nearly 601.8 million shares against 21.39 million shares on offer.

The participation was led by non-institutional investors, who subscribed over 63 times the shares reserved for them, with bids for 291.5 million shares against 4.62 million shares on offer. The next best demand came from retail investors who placed bids for 244.9 million shares, nearly 23 times the 10.8 million shares reserved for them. The portion reserved for qualified institutional buyers was subscribed almost 11 times, with bids for 65.48 million shares against 5.99 million on offer.

The public issue comprises a fresh issue of shares of up to INR 925 million and an offer for sale of up to 7.67 million shares. Ahead of the offer, the company had raised INR 376.5 million from anchor investors by allotting 8.76 million shares at INR 43 per share, the upper end of its price band.

Manika Plastech is a design-led company manufacturing precision-engineered rigid polymer packaging that caters to diversified critical industries such as energy storage, dairy and edible food products, paints, and chemicals. For the June quarter, it had reported a consolidated net profit of INR 130.72 million on revenues of INR 1.62 billion. For the financial year 2025-26 (Apr-Mar), the company had reported a net profit of INR 224.02 million on revenues of INR 4.36 billion.  (Pratyush Kumar)

IPO Alert: Manika Plastech offer subscribed 8.30 times as on second day

Informist, Tuesday, Sept. 15, 2026

MUMBAI – The initial public offering of Manika Plastech Ltd. was subscribed 8.30 times as on the second day of the issue, with bids for 177.61 million shares, against 21.39 million shares on offer. Retail investors showed the strongest demand, followed by non-institutional investors and qualified institutional buyers.

Retail investors bid for 123.40 million shares, or 11.45 times the 10.78 million shares reserved for the segment. Non-institutional investors placed bids for 49.40 million shares, or 10.69 times the 4.62 million shares reserved for them. Qualified institutional buyers bid for 4.80 million shares, or 0.80 times the 5.99 million shares reserved for the segment.

The public issue comprises a fresh issue of shares of up to INR 925 million and an offer for sale of up to 7.67 million shares. Ahead of the offer, the company had raised INR 376.5 million from anchor investors by allotting 8.76 million shares at INR 43 per share, the upper end of its price band.

Manika Plastech is a design-led company manufacturing precision-engineered rigid polymer packaging that caters to diversified critical industries such as energy storage, dairy and edible food products, paints, and chemicals. For the June quarter, it had reported a consolidated net profit of INR 130.72 million on revenues of INR 1.62 billion. For the financial year 2025-26 (Apr-Mar), the company had reported a net profit of INR 224.02 million on revenues of INR 4.36 billion. (Rosalin Lenka)

IPO Alert: Manika Plastech subscribed 143% on day one; retail book leads

Informist, Friday, Sept. 11, 2026

MUMBAI – The initial public offering of Manika Plastech Ltd. was oversubscribed on the first day of bidding Friday. The issue was subscribed 1.43 times, with bids placed for 30.49 million against 21.39 shares reserved for them, according to BSE data. While retail investors and non-institutional investors fully booked their quotas, qualified institutional buyers showed muted interest.

Retail investors subscribed 2.12 times of the portion, with bids being placed for 22.88 million shares against 10.78 million reserved for them. The portion reserved for non-institutional investors was subscribed 1.19 times with bids placed of 5.51 million shares against 4.62 million shares on offer. Qualified institutional buyers placed bids for 2.1 million shares or subscribed to only 35% of the 5.99 million shares reserved for them.

The public issue comprises a fresh issue of shares of up to INR 925 million and an offer for sale of up to 7.67 million shares. Ahead of the offer, the company had raised INR 376.5 million from anchor investors by allotting 8.76 million shares at INR 43 per share, the upper end of its price band.

Manika Plastech is a design-led company manufacturing precision-engineered rigid polymer packaging that caters to diversified critical industries such as energy storage, dairy and edible food products, paints, and chemicals. For the June quarter, it had reported consolidated net profit of INR 130.72 million on revenues of INR 1.62 billion. For the financial year 2025-26 (Apr-Mar), the company had reported net profit of INR 224.02 million on revenues of INR 4.36 billion.  (Diksha Singh)

IPO Alert: Manika Plastech raises INR 376.5 mln from anchor investors

Informist, Thursday, Sept. 10, 2026

NEW DELHI – Manika Plastech Ltd. Thursday said it has raised INR 376.5 million from five anchor investors by allotting 8.76 million shares at INR 43 apiece. The Wealth Co. Alternates Trust secured the largest chunk of 4.1 million shares or 46.87% of the total allocation. Trust Mutual Fund, through its two schemes, was allotted a total of 2.33 million shares or 26.57% of the total allocation. Finavenue Growth Fund and Nova Global Opportunities Fund PCC-Touchstone received 1.16 million shares each or 13.28% each.

Out of the total anchor book, the allocation to domestic mutual funds was 25.57%. The initial public offering comprises a fresh issue of shares worth up to INR 925 million and an offer for sales of up to 7.67 million shares.

Manika Plastech is a design-led company manufacturing precision-engineered rigid polymer packaging that caters to diversified critical industries such as energy storage, dairy and edible food products, paints, and chemicals. For the June quarter, it had reported consolidated net profit of INR 130.72 million on revenues of INR 1.62 billion. For 2025-26 (Apr-Mar), the company had reported net profit of INR 224.02 million on revenues of INR 4.36 billion.  (Devanshu Singla)

IPO Alert: Manika Plastech sets price band at INR 40-INR 43 per share

Informist, Monday, Sept. 7, 2026

MUMBAI – Manika Plastech Ltd. has set the price for its initial public offering at INR 40-INR 43 per share. The issue will open for subscription Friday and close on Sept. 16. Anchor investors can bid for shares Thursday, according to an advertisement in the Financial Express newspaper.

The company has reduced the size of its fresh issue to INR 925 million from INR 1.15 billion earlier. Its offer for sale has nearly halved to 7.67 million shares from 15 million shares earlier. Of the fresh issue, the company will use INR 549.29 million to fund capital expenditure towards the purchase of plant and machinery and INR 150 million for the repayment of its borrowings.

Investors can bid for a minimum of 348 equity shares and in multiples of 348 thereafter. The face value of each share is INR 2. The price-to-earnings ratio based on diluted earnings per share for the financial year 2025-26 (Apr-Mar) is 16.96 times at the lower end of the price band and 18.23 times at the upper end.

Manika Plastech is a design-led company manufacturing precision-engineered rigid polymer packaging that caters to diversified critical industries such as energy storage, dairy and edible food products, paints, and chemicals. For the quarter ended June, it had reported a consolidated net profit of INR 130.72 million on revenues of INR 1.62 billion. For FY26, the company had reported a net profit of INR 224.02 million on revenues of INR 4.36 billion.  (Akash Tirlotkar)

IPO Alert: Manika Plastech gets SEBI's approval for fresh issue, OFS

Informist, Monday, Nov. 3, 2025

MUMBAI – The Securities and Exchange Board of India has approved the initial public offering of Manika Plastech Ltd., according to information on the regulator's website. The SEBI issued its observation letter on Wednesday. The company had filed its draft red herring prospectus for an initial public offering, which comprises a fresh issue of shares worth INR 1.15 billion and an offer-for-sale of up to 15 million shares.

Manika Plastech is a design-led, precision engineered, rigid polymer packaging manufacturing company, catering to diversified critical industries such as energy storage, dairy and edible food products, paints, and chemicals. Manika Plastech had reported a consolidated net profit of INR 116.90 million for the nine months ended Dec. 31, 2024, on revenue of INR 2.96 billion.  (Arundathi A R)

IPO Alert: Manika Plastech files draft papers with SEBI for fresh issue, OFS

Informist, Wednesday, Jun. 25, 2025

MUMBAI – Manika Plastech Ltd. has filed a draft red herring prospectus with the Securities and Exchange Board of India for an initial public offering. The offer includes a fresh issue of shares worth INR 1.15 billion and an offer-for-sale of up to 15 million shares by promoter selling shareholder VRIDAA Holding Trust. The face value of each share is INR 2.  

Of the net proceeds from the fresh issue, the company proposes to use INR 598.21 million for capital expenditure to purchase plant and machinery, INR 250 million for repayment/pre-payment, in part or full, of certain borrowings availed by the company, and general corporate purposes. The promoter selling shareholder will be entitled to the proceeds of the offer for sale, after deducting its proportion of the offer expenses and relevant taxes thereon. The company will not receive any proceeds from the offer for sale, according to the draft red herring prospectus. 

Manika Plastech is a design-led, precision engineered, rigid polymer packaging manufacturing company, catering to diversified critical industries such as energy storage, dairy and edible food products, paints, and chemicals. The company's products are designed and developed in-house, with 36 designs registered as unique intellectual property, out of which two have been applied for renewal. It undertakes production in injection moulded, rigid polymer components, such as precision battery casings that are integral to the performance and durability of energy storage systems.

Manika Plastech serves as an end-to-end provider of reinforced polypropylene solutions for its products to customers, starting from design to development, sourcing raw materials, manufacturing, heat sealing, labelling, quality assurance and to delivery. The company's facilities are equipped to design automotive battery casings compliant with Japanese and German technical standards developed and published by Japanese Industrial Standards and Deutsches Institut Fur Normung, respectively, which enables it to align its products with the final product specifications and quality requirements of customers.

Manika Plastech had reported a consolidated net profit of INR 116.90 million for the nine months ended Dec. 31, 2024, on revenue of INR 2.96 billion. For 2023-24 (Apr-Mar), the company had reported a consolidated net profit of INR 115.45 million on revenue of INR 3.61 billion. For FY23, the company had reported a consolidated net profit of INR 113.19 million on revenue of INR 3.97 billion. For FY22, it reported a consolidated net profit of INR 99.66 million on revenue of INR 3.33 billion.

Among the internal risk factors for the company, of its diversified product portfolio, approximately 67-74% of revenue was derived from the sale of battery casings during the nine-month period ended Dec. 31, 2024, and the preceding three fiscals. Any loss of sales in battery casings due to reduction in demand for such products or a downturn in its end-use industries, could have an adverse effect on the business, financial condition, results of operations and cash flows. Majority of the raw material purchases, sourced from well-known suppliers, are not under any long-term purchase agreements. Any reduction of supplies, or discontinuation of supplies from top suppliers, could have a material adverse effect on the business, financial condition, results of operations and cash flows. Any fluctuation in prices of raw materials, may have a material adverse effect on its business, results of operations, prospects and financial condition.

The company's expansion into new product categories and an increase in the number of products offered by them may expose to new challenges and additional risks. The company has been expanding its product portfolio historically and has recently ventured into the manufacturing of thin wall containers and painting of automotive components in the year 2024. Therefore, it has a limited operating history in these operations. It may be unable to adequately address risks arising from such operations, which may impact the business and financial condition. The company's operating facilities are subject to operating risks. Any shutdown of its operating facilities, or other production problems caused by unforeseen events, may reduce sales and adversely affect the business, cash flows, results of operations and financial condition.

The company's proposed capacity expansion plans are subject to the risk of unanticipated delays in implementation and cost overruns. It may not be able to obtain, renew or maintain statutory and regulatory permits and approvals required to operate the businesses on time or at all. Any failure to obtain, maintain or renew the required approvals, licenses, registrations or permits, may adversely affect the operations, and among others are the risk factors of the company. 

The offer is being made through the book-building process, wherein not more than 50% of the net offer will be allocated to qualified institutional buyers, not less than 15% of the net offer will be allotted to non-institutional bidders, and not less than 35% of the net offer will be allotted to retail individual bidders.

Pantomath Capital Advisors Pvt. Ltd. is the only book-running lead manager of the issue, and MUFG Intime India Pvt. Ltd. is the registrar. The shares are proposed to be listed on the National Stock Exchange of India Ltd. and BSE Ltd.  (Pooja Sawant) 

End

Edited by Akul Nishant Akhoury

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