Manilam Industries India Limited
Bookbuilding IPO · NSE
- Price band
- ₹65 - ₹69
- Lot size
- 2,000 shares
- Issue amount
- ₹39.95 cr
- Total subscription
- 6.33×
- Opens
- 20 Feb 2026
- Closes
- 24 Feb 2026
- Allotment
- 25 Feb 2026
- Listing
- 27 Feb 2026
Offer at a glance
Issue overview
- Issue size
- 57,90,000 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,30,000
- Fresh issue
- ₹32.42 cr
- Offer for sale
- ₹7.53 cr
- Registrar
- Mas Services Limited
- Listing exchange
- NSE
- Maximum investment
- ₹1,38,000
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,71,50,000
- Shares after issue
- 2,18,48,000
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 4,000 | ₹2,76,000 |
| sHNI | 3 | 6,000 | ₹4,14,000 |
| bHNI | 8 | 16,000 | ₹11,04,000 |
Share reservation
Subscription & GMP
Subscription by category
Reported 24 Feb 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| QIB | 0 | 7 |
| NIB | 0 | 898 |
| RETAIL | 482 | 2,834 |
| HNIs(10L +) | 92 | 478 |
| HNIs (2-10L) | 46 | 420 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 7.62 | 17.03 |
| Others | 0 | 17.03 |
| RETAIL | 13.3 | 78.22 |
| NIB | 5.71 | 73.36 |
| HNIs 2+ | 1.9 | 17.42 |
| HNIs 10+ | 3.81 | 55.95 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Sep-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| EPS | 1.85 | 4.58 | 1.93 | 0.95 |
| ROE | 8.22 | 24.46 | 12.46 | 6.76 |
| ROCE | 13.42 | 34.58 | 24.1 | 15.37 |
| RONW | 0 | 0 | 0 | 0 |
| PRE IPO(PE) | 0 | 16.04 | 0 | 0 |
| POST IPO(PE) | 23.85 | 0 | 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) (₹) |
|---|---|---|---|---|---|---|
| Manilam Industries India Limited | 16.04 | 69.00 | 10.00 | 0 | 8.35 | 1.88 |
| Archidply Industries Ltd | 52.41 | 84.90 | 10.00 | 0 | 3.05 | 1.62 |
| Rushil Decor Limited | 0 | 19.40 | 1.00 | 0 | -1.40 | -0.31 |
Company information
Company profile
Established in 2015, Manilam Industries India Limited is engaged in manufacturing decorative laminates and trading plywood products, catering mainly to industrial and commercial customers through a B2B model where distributors place orders directly with the factory. The company offers a wide range of laminate collections including Artistica, Vogue, Dwar, Magnificent, Chromatic Tales, Flute, ECP, Wood & Veneer, and Wall Cladding, designed for residential and commercial spaces with diverse designs, textures, and finishes. Its manufacturing facility is located at Village Manda, Bhojipura Nainital Road, Bareilly, Uttar Pradesh, spread across around 20,650 square meters. To enhance customer engagement and market presence, the company has established Experience Centres in Bangalore, Delhi, and Chennai, with the Bangalore and Chennai locations also operating as service depots that combine product display, inventory storage, dispatch, and customer support, allowing customers to explore products, receive design assistance, and place orders efficiently.
Strengths
- Strong Manufacturing Standards: Follows BIS specifications and uses advanced OCTA technology with multi-daylight presses to ensure quality and durability.
- Extensive Product Portfolio: Offers 1,000+ laminate designs and multiple plywood variants for residential and commercial needs.
- Established Distribution Network: Wide distribution reach ensures strong availability for architects, designers, and homeowners.
Risk factors
- Changing Design Preference Risk: Frequent shifts in customer tastes and laminate trends may impact demand if not addressed timely.
- Potential Conflict of Interest: Promoters or group entities operating in similar businesses may create strategic conflicts.
- Limited Control over Experience Centres: Centres in Delhi and Chennai are run by the corporate promoter, limiting direct operational control.
Promoters
Manilam Retail India Private Limited
Mr. Umesh Kumar Nemani
Mr. Manoj Kumar Agrawal
Mr. Aman Kumar Nemani
Registrar & documents
Lead manager
NEXGEN Financial Solutions Private Limited
Registrar & contacts
Mas Services Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
46 B. B. Ganguly Street 5th Floor, Room No-9 Kolkata, West Bengal, 700012
03335076903
[email protected]Company website ↗Understanding MANILAM 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.