Manika Plastech Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹40 - ₹43
- Lot size
- 348 shares
- Issue amount
- ₹125.5 cr
- Total subscription
- 29.46×
- Opens
- 11 Sept 2026
- Closes
- 16 Sept 2026
- Allotment
- 17 Sept 2026
- Listing
- 21 Sept 2026
Offer at a glance
Issue overview
- Issue size
- 2,91,86,046 shares
- Face value
- ₹2 per share
- Minimum investment
- ₹13,920
- Fresh issue
- ₹92.5 cr
- Offer for sale
- ₹33 cr
- Registrar
- Link Intime India Private Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,964
- Issue type
- Bookbuilding IPO
- Shares before issue
- 9,50,00,000
- Shares after issue
- 11,65,11,627
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail | 1 | 348 | ₹14,964 |
| sHNI | 14 | 4,872 | ₹2,09,496 |
| bHNI | 67 | 23,316 | ₹10,02,588 |
Share reservation
Subscription & GMP
Subscription by category
Reported 16 Sept 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 29,354 | 6,12,636 |
| HNIs(10L +) | 599 | 9,201 |
| HNIs (2-10L) | 300 | 14,819 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 25.1 | 281.56 |
| FIIs | 0 | 82.25 |
| FIs | 0 | 3.05 |
| Mutual Funds | 0 | 2.99 |
| Others | 0 | 193.27 |
| RETAIL | 43.92 | 1,053.26 |
| HNIs 2+ | 6.27 | 322.66 |
| HNIs 10+ | 12.55 | 930.66 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS | 2.36 | 2.03 | 2.03 |
| ROE | 0 | 0 | 0 |
| ROCE | 0 | 0 | 0 |
| RONW | 15.44 | 10.68 | 10.68 |
| PRE IPO(PE) | 0 | 18.22 | 0 |
| POST IPO(PE) | 9.58 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Hitech Corporation Limited | 37.85 | 334.6 | 10 | 165.72 | 5.34 | 8.84 |
| Mold-Tek Packaging Limited | 32.34 | 709.25 | 5 | 207.64 | 10.56 | 21.93 |
| Shaily Engineering Plastics Limited | 88.85 | 3,272.30 | 2 | 155.95 | 23.71 | 36.97 |
| Manika Plastech Limited | 18.22 | 43 | 2 | 15.54 | 15.18 | 2.36 |
Company information
Company profile
Manika Plastech Limited is an Indian company that manufactures specialized polymer-based packaging solutions, mainly producing multilayer barrier films and containers used in industries like food and beverages, pharmaceuticals, personal care, agrochemicals, and lubricants. Its products are designed to improve shelf life, maintain product quality, and protect against moisture, oxygen, and other external factors. The company uses advanced co-extrusion technology to create high-quality multilayer packaging and serves both domestic and international markets, building strong relationships with clients through customized and reliable solutions. It also focuses on sustainability, efficiency, and maintaining global quality standards in its operations. Currently, the company operates seven manufacturing facilities across locations like Dehradun, Hosur, Panipat, Una, and Dadra, covering around 51,000 square meters with an installed capacity of 27,600 MTPA, along with five warehouses in Hosur, Dehradun, Jodhpur, and Katni.
Strengths
- Proximity to Key Customers: The company’s facilities are located close to key customers, helping it provide faster service, respond quickly to customer needs and maintain strong relationships.
- Entry Barriers & Customer Retention: The company has strong operational capabilities and long-term customer relationships, making it difficult for competitors to enter and for customers to switch suppliers.
- Integrated Value-Added Services: Manika Plastech offers in-house design, product development, labelling and manufacturing services, enabling it to provide customised and complete rigid polymer packaging solutions.
Risk factors
- High Customer Concentration: Around 58%–69% of revenue comes from the top five customers. Losing a major customer or receiving fewer orders from them could significantly affect revenue and financial performance.
- Dependence on Key Customer Locations: The company usually sets up facilities or warehouses near its key customers. Any decline in these customers’ business or slowdown in their industries could affect the company’s operations.
- Dependence on Battery Casings: Battery casings contribute around 54%–68% of the company’s revenue. A significant decline in battery casing sales could negatively affect revenue, profitability and cash flow.
Promoters
Nikunj Mohanlal Kapadia
Munjal Nikunj Kapadia
Mihir Nikunj Kapadia
Pratik Nikunj Kapadia
Vridaa Holding Trust
Registrar & documents
Lead manager
Pantomath Capital Advisors Private Limited
Registrar & contacts
Link Intime India Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Manika Plastech Ltd., Gala Number C/22-26, First Tax Free Industrial Estate, Silvassa, Khanvel Road, Village Saily, Dadra and Nagar Haveli and Daman and Diu, 396230
+91 22 4223 4300
[email protected]Company website ↗Understanding MANIKA IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.