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Manika Plastech IPOLISTED
Manika Plastech Limited manufactures rigid polymer packaging products, including battery casings, pails and thinwall containers for industrial and consumer applications.
Listing price
₹43
Listing gain
+0.00%
Current
₹43
Listed
21 Sept 26
Opens
11 Sept 26Closes
16 Sept 26Allotment
17 Sept 26Refund
18 Sept 26Demat
18 Sept 26Listing
21 Sept 26Overview
Price band
₹40-43
Lot size
348 shares
Min. investment
₹14,964
Issue size
₹125.50 Cr
2.92 Cr shares
Fresh issue
₹92.5 Cr
2.15 Cr shares
Offer for sale
₹33 Cr
76.74 L shares
Face value
₹2 / share
Issue type
Book Built Issue
Listing at
NSE, BSE
Reservation
| Category | Shares offered | % of issue |
|---|---|---|
| Anchor Investor | 87,55,813 | 30% |
| QIB | 58,37,210 | 20% |
| NII (HNI) | 43,77,907 | 15% |
| B-HNI | 29,18,605 | 10% |
| S-HNI | 14,59,302 | 5% |
| Individual | 1,02,15,116 | 35% |
| Total | 2,91,86,046 | 100% |
Lot size & investment
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 348 | ₹14,964 |
| Retail (Max) | 13 | 4,524 | ₹1,94,532 |
| S-HNI (Min) | 14 | 4,872 | ₹2,09,496 |
| S-HNI (Max) | 66 | 22,968 | ₹9,87,624 |
| B-HNI (Min) | 67 | 23,316 | ₹10,02,588 |
Listing performance
NSE/BSE: MANIKAListing gain
0.00%
Gain per retail lot
₹0
Latest vs issue
—
GMP was
₹1 (+2.33%)
Issue price
GMP estimate
Listing price
Latest price appears here during market hours.
Manika Plastech Live GMP
Not enough GMP history yet to draw a trend.
Subscription
16 Sept, 08:37 pmOversubscribed 29.46 times · 6,37,326 applications
Total applications
6,37,326
Total bid amount
₹2,588 Cr
Category breakdown
| Category | Shares offered | Shares bid | Times | Bid amount |
|---|---|---|---|---|
| QIB | 58,37,210 | 6,54,79,332 | 11.22x | ₹282 Cr |
| NII (HNI) | 43,77,907 | 29,14,69,836 | 66.58x | ₹1,253 Cr |
| B-HNI | 29,18,605 | 21,64,32,336 | 74.16x | ₹931 Cr |
| S-HNI | 14,59,302 | 7,50,37,500 | 51.42x | ₹323 Cr |
| Retail | 1,02,15,116 | 24,49,45,368 | 23.98x | ₹1,053 Cr |
| Total | 2,04,30,233 | 60,18,94,536 | 29.46x | ₹2,588 Cr |
Application-wise breakup
| Category | Applications reserved | Applied | Times |
|---|---|---|---|
| B-HNI | 599 | 9,201 | 15.36x |
| S-HNI | 300 | 14,819 | 49.40x |
| Retail | 29,354 | 6,12,637 | 20.87x |
Allotment chance per application is roughly 1 ÷ times for the category (lottery for retail and S-HNI).
Financials
(₹ in crores)
Key performance indicators
As of 30 Jun 2026ROE
8.34%
PAT Margin
8.03%
ROCE
8.34%
EBITDA Margin
15.01%
Debt to Equity Ratio
0.59
Price to Book Value
2.61
RoNW
8.34%
Valuation vs listed peers
EPS Pre IPO
₹2.36
EPS Post IPO
₹4.49
P/E Pre IPO
18.22
P/E Post IPO
9.58
Price-to-earnings
| Company | P/E | P/B | RoNW | Face value |
|---|---|---|---|---|
| Hitech Corporation Limited | 37.85 | — | — | — |
| Mold-Tek Packaging Limited | 32.34 | — | — | — |
| Shaily Engineering Plastics Limited | 88.85 | — | — | — |
Peer median P/E 37.9× · Ratios as disclosed in the offer document.
Buzz AI analysis
From this IPO's filings and market data · educational, not investment advice
Revenue growth FY24 → FY26
+18.6%
Profit growth FY24 → FY26
+94.3%
P/E vs peer median
9.6× vs 37.9×
- PAT margin 8.0% and ROCE 8.3%.
- Priced below its listed-peer median P/E.
Strengths & risks
- Diversified Product Portfolio across battery casings, pails and thinwall containers serving multiple industries.
- Longstanding Customer Relationships with a high proportion of repeat customers and several relationships spanning over a decade.
- Wide Manufacturing Network with six manufacturing facilities across multiple regions and 29,200 MTPA installed capacity.
- Capacity Expansion Plans to increase installed capacity to 38,000 MTPA and diversify product offerings.
Buzz score · Neutral
From GMP, subscription and issue size
Objects of the issue
| Purpose | Amount (₹ Cr) |
|---|---|
| Funding the capital expenditure towards purchase of plant and machinery. | 54.93 |
| Repayment and/or pre-payment, in part or full, of certain borrowings availed by Company. | 15 |
| General Corporate Purposes. | - |
Company & documents
Manika Plastech Limited is engaged in the manufacturing of rigid polymer packaging products, primarily including battery casings, pails and thinwall containers. The Company also manufactures automotive components and provides painting services for automotive components.
Its products cater to diverse industries, including automobiles, railways, renewable energy, power back-up, paints, lubricants, construction chemicals, agrochemicals and FMCG.
The Company provides customised packaging solutions and has product design and development capabilities. Its automotive battery casings are manufactured according to customer requirements and standards such as JIS and DIN, along with customised labelling solutions.
During the three-month period ended June 30, 2026 and the preceding three fiscals, the Company sold over 2,700 SKUs of battery casings, 2,900 SKUs of pails and 1,000 SKUs of thinwall containers. It has manufactured 6,773 products across its product segments and owns over 800 moulds.
The Company served 168 to 242 customers across 24 states and union territories during the three-month period ended June 30, 2026 and the preceding three fiscals. Its top 20 customers had an average relationship tenure of over 10 years as of June 30, 2026.
Manika Plastech operates seven operating facilities, comprising six manufacturing facilities and one painting facility, located across Dadra, Dehradun, Hosur, Panipat and Una. Its manufacturing infrastructure had an aggregate installed capacity of 29,200 MTPA.
Registrar
MUFG Intime India Pvt. Ltd.
Phone: 022-49186000
Email: manikaplastech.ipo@in.mpms.mufg.com
Web: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
Company contact
Manika Plastech Ltd.
Gala Number C/22-26, First Tax Free Industrial Estate, Silvassa Khanvel Road, Village Saily, Dadra and Nagar Haveli, Daman and Diu, 396230
Phone: +91 22 4223 4300
Email: cs@manikaplastech.com
Book running lead managers
- Pantomath Capital Advisors Pvt. Ltd.
Promoters
- Nikunj Mohanlal Kapadia
- Munjal Nikunj Kapadia
- Mihir Nikunj Kapadia
- Pratik Nikunj Kapadia
- Vridaa Holding Trust