Manika Plastech IPO is a mainboard book-building public issue with a total issue size of approximately ₹125.50 crore.
The public issue includes a fresh issue of 2.15 crore equity shares aggregating to around ₹92.50 crore and an offer for sale of approximately 76.74 lakh shares worth around ₹33 crore.
The IPO will open for subscription on 11 September 2026 and close on 16 September 2026. The equity shares are proposed to be listed on both NSE and BSE.
Manika Plastech IPO Details
Manika Plastech Limited is launching a ₹125.50 crore book-building IPO. The issue combines a fresh issue of shares with an offer for sale by an existing shareholder.
The fresh issue comprises approximately 2.15 crore shares aggregating to around ₹92.50 crore. The offer for sale consists of approximately 76.74 lakh shares valued at around ₹33 crore.
The IPO price band has been fixed at ₹40 to ₹43 per share. Investors can apply for a minimum of 348 shares and thereafter in multiples of the specified lot size.
At the upper price band of ₹43 per share, a retail investor needs ₹14,964 to apply for one lot.
Manika Plastech IPO Details
| Particulars | Details |
|---|---|
| IPO Open Date | 11 September 2026 |
| IPO Close Date | 16 September 2026 |
| IPO Size | ₹125.50 Crore |
| Price Band | ₹40 to ₹43 per share |
| Face Value | ₹2 per share |
| Lot Size | 348 Shares |
| Issue Type | Book Building |
| Issue Structure | Fresh Issue + Offer for Sale |
| Listing Exchange | NSE and BSE |
| Market Cap at Upper Band | ₹501.00 Crore |
| Expected Allotment | 17 September 2026 |
| Refund / Unblocking | 18 September 2026 |
| Demat Credit | 18 September 2026 |
| Tentative Listing Date | 21 September 2026 |
Manika Plastech IPO Issue Size
| Issue Component | Shares | Approx. Amount |
|---|---|---|
| Total Issue | 2,91,86,045 | Up to ₹125.50 Cr |
| Fresh Issue | 2,15,11,627 | Up to ₹92.50 Cr |
| Offer for Sale | 76,74,418 | Up to ₹33.00 Cr |
Manika Plastech IPO Timeline
| Event | Date |
|---|---|
| IPO Opens | Friday, 11 September 2026 |
| IPO Closes | Wednesday, 16 September 2026 |
| Allotment | Thursday, 17 September 2026 |
| Refund / Unblocking | Friday, 18 September 2026 |
| Shares Credited to Demat | Friday, 18 September 2026 |
| Listing | Monday, 21 September 2026 |
Manika Plastech IPO Reservation
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not more than 50% |
| Retail Investors | Not less than 35% |
| Non-Institutional Investors (NII) | Not less than 15% |
Manika Plastech IPO Lot Size
Investors can bid for a minimum of 348 shares and thereafter in multiples of 348 shares.
| Investor Category | Lots | Shares | Investment at ₹43 |
|---|---|---|---|
| Retail Minimum | 1 | 348 | ₹14,964 |
| Retail Maximum | 13 | 4,524 | ₹1,94,532 |
| S-HNI Minimum | 14 | 4,872 | ₹2,09,496 |
| S-HNI Maximum | 66 | 22,968 | ₹9,87,624 |
| B-HNI Minimum | 67 | 23,316 | ₹10,02,588 |
About Manika Plastech Ltd.
Manika Plastech Limited, incorporated in 1996, is engaged in the manufacture of rigid polymer packaging products. Its portfolio includes battery casings, pails and thinwall containers used across industrial and consumer markets.
The company manufactures packaging products for applications including paints, lubricants, industrial chemicals, dairy and edible food products. Its food-grade thinwall containers are designed for packaging and distribution requirements in the food and dairy sector.
Manika Plastech offers integrated packaging capabilities covering product design and development, raw-material sourcing, manufacturing, heat sealing, labelling, quality assurance and delivery.
The company also manufactures automotive battery casings according to customer requirements and technical standards such as JIS and DIN.
Its customers operate across several industries, including automotive, energy storage, telecommunications, paints, lubricants, agrochemicals, construction chemicals, food and dairy.
The company operates 7 facilities in India, comprising 6 manufacturing facilities and 1 painting facility. These facilities are located across Dehradun, Hosur, Panipat, Una and Dadra.
As of July 31, 2026, the company had 352 employees and 809 contract labourers. During the three months ended June 30, 2026 and the previous three financial years, it served customers across 24 states and union territories.
Manika Plastech Business Strengths
- Diversified rigid polymer packaging product portfolio serving multiple industries.
- Established manufacturing presence through multiple facilities across India.
- Long-term customer relationships, with the top 20 customers having an average relationship tenure of more than 10 years.
- Customer base spread across automotive, energy storage, paints, chemicals, food, dairy and other sectors.
- Integrated capabilities covering design, manufacturing, finishing, labelling and delivery.
- Experience in manufacturing battery casings and other specialised polymer packaging products.
- Presence across several geographic markets and end-user industries reduces dependence on a single business segment.
Manika Plastech Financial Performance
Manika Plastech reported improvement in its financial performance during FY2026. Total income increased to ₹437.26 crore from ₹412.59 crore in FY2025, while profit after tax rose to ₹22.40 crore from ₹19.33 crore.
| Particulars (₹ Crore) | FY2026 | FY2025 | FY2024 |
|---|---|---|---|
| Total Income | 437.26 | 412.59 | 368.76 |
| Profit After Tax | 22.40 | 19.33 | 11.53 |
| EBITDA | 58.14 | 45.30 | 30.86 |
| Net Worth | 147.62 | 125.17 | 107.99 |
| Total Borrowings | 88.19 | 97.45 | 93.06 |
| Assets | 323.69 | 320.99 | 252.93 |
Manika Plastech Financials for June 2026
| Particulars | 30 June 2026 |
|---|---|
| Total Income | ₹162.71 Cr |
| Profit After Tax | ₹13.07 Cr |
| EBITDA | ₹24.38 Cr |
| Net Worth | ₹156.78 Cr |
| Total Borrowings | ₹92.46 Cr |
| Assets | ₹317.00 Cr |
Manika Plastech IPO Objects of the Issue
The company intends to deploy the net proceeds from the fresh issue towards expanding its manufacturing capabilities, reducing debt and meeting general corporate requirements.
| No. | Use of IPO Funds | Amount |
|---|---|---|
| 1 | Purchase of plant and machinery as part of the company’s capital expenditure. | ₹54.93 Cr |
| 2 | Repayment and/or pre-payment, in full or in part, of selected borrowings. | ₹15.00 Cr |
| 3 | General corporate purposes. | Balance Amount |
| Total Identified Proceeds | ₹69.93 Cr | |
Manika Plastech IPO Key Performance Indicators
| KPI | 30 Jun 2026 | 31 Mar 2026 |
|---|---|---|
| ROE | 8.34% | 15.18% |
| ROCE | 8.34% | 18.77% |
| Debt/Equity | 0.59 | 0.60 |
| RoNW | 8.34% | 15.18% |
| PAT Margin | 8.03% | 5.12% |
| EBITDA Margin | 15.01% | 13.34% |
| NAV | ₹16.50 | ₹15.54 |
| Price to Book Value | 2.61 | 2.77 |
Manika Plastech IPO Valuation
At the upper IPO price of ₹43 per share, the company’s post-issue market capitalization is estimated at around ₹501 crore.
| Valuation Metric | Pre-IPO | Post-IPO |
|---|---|---|
| EPS | ₹2.36 | ₹4.49 |
| P/E | 18.22x | 9.58x |
| Market Capitalisation | ₹409 Cr | ₹501 Cr |
| Price to Book Value | 2.77x | 2.61x |
Manika Plastech Shareholding Pattern
| Category | Pre-IPO | Post-IPO |
|---|---|---|
| Promoter & Promoter Group | 100% | 74.95% |
| Public | — | 25.05% |
| Total | 100% | 100% |
Company Promoters: Nikunj Mohanlal Kapadia, Munjal Nikunj Kapadia, Mihir Nikunj Kapadia, Pratik Nikunj Kapadia and Vridaa Holding Trust.
Manika Plastech IPO Offer for Sale
The offer for sale component consists of shares offered by VRIDAA Holding Trust, a promoter-category shareholder. The proceeds from the OFS will be received by the selling shareholder and will not form part of the company’s fresh capital.
| Selling Shareholder | Category | Shares Offered | Amount |
|---|---|---|---|
| VRIDAA Holding Trust | Promoter | 76,74,418 | ₹33.00 Cr |
| Total OFS | 76,74,418 | ₹33.00 Cr |
Manika Plastech IPO Registrar & Lead Manager
IPO Registrar: MUFG Intime India Pvt. Ltd.
Book Running Lead Manager:
- Pantomath Capital Advisors Pvt. Ltd.
Manika Plastech Ltd. Contact Details
Registered Office:
Gala Number C/22-26,
First Tax Free Industrial Estate,
Silvassa, Khanvel Road, Village Saily,
Dadra and Nagar Haveli and Daman and Diu – 396230
Phone: +91 22 4223 4300
Email: cs@manikaplastech.com
Manika Plastech IPO Quick Summary
Manika Plastech IPO is a mainboard public issue of approximately ₹125.50 crore. The IPO opens on 11 September 2026 and closes on 16 September 2026.
The IPO price band is fixed at ₹40 to ₹43 per share, while the minimum lot size is 348 shares. At the upper price band, one retail lot requires an investment of ₹14,964.
The issue comprises a fresh issue of approximately ₹92.50 crore and an offer for sale of around ₹33 crore. The shares are proposed to be listed on both NSE and BSE.
Manika Plastech IPO FAQs
Disclaimer
This IPO information is intended for educational and informational purposes only. Investing in an IPO involves market risk, and historical financial results should not be considered a guarantee of future performance. Investors should read the company’s RHP, financial statements and other official disclosures carefully and make investment decisions based on their own research and risk assessment.
