Manika Plastech Concludes ₹125.50 Crore IPO with Listing Slated for September 21 on BSE and NSE

Mumbai-headquartered rigid polymer packaging solutions provider Manika Plastech Limited has successfully concluded its initial public offering (IPO), raising ₹125.50 crore as it heads toward listing on Indian stock exchanges on September 21, 2026.

The public offer, which was open for subscription from September 11 to September 16, 2026, saw robust participation across investor segments. The basis of allotment was finalized on September 17, followed by the initiation of refunds and share credits to demat accounts on September 18.

Issue Structure and Financials

The book-built issue consisted of a fresh issue of 2.15 crore equity shares amounting to ₹92.50 crore and an offer for sale (OFS) of 76.74 lakh shares valued at ₹33.00 crore. Shares were offered in a price band of ₹40 to ₹43 per share, with the final issue price established at the upper cap of ₹43 per share. The lot size was set at 348 shares, requiring a minimum retail commitment of ₹14,964. Prior to the opening of the issue, the company secured ₹37.65 crore from anchor investors on September 10.

Subscription Highlights:

• Non-Institutional Investors (NII): Subscribed 66.58 times.
• Retail Individual Investors (RII): Subscribed 23.98 times.
• Qualified Institutional Buyers (QIB): Subscribed 11.22 times (excluding anchor portion).
• Total Bidding: The overall issue was subscribed 29.46 times.

Market Debut and Trading Rules

Equity shares of Manika Plastech are scheduled to commence trading on both the National Stock Exchange of India (NSE) and BSE Limited on Monday, September 21, 2026. The company has been assigned the NSE trading symbol MANIKA and ISIN INE0KWF01020.

Because the total issue size is under ₹250 crore, the equity shares will initially be admitted to trade in the BE series (trade-for-trade segment). Under this framework, every transaction must result in delivery and cannot be squared off intraday, a standard regulatory mechanism by Indian exchanges designed to curb excessive initial volatility and enhance settlement discipline.

Operations and Use of Proceeds

Incorporated in 1996, Manika Plastech operates manufacturing units across locations including Dehradun, Hosur, Panipat, Una, and Dadra. The company designs and produces injection-moulded rigid plastic solutions, primarily supplying:

• High-performance battery casings engineered for industrial and automotive energy storage systems.
• Heavy-duty plastic pails used across paint, lubricant, and specialty chemical industries.
• Food-grade thinwall containers catering to dairy and packaged food producers.

The net fresh proceeds will be directed toward capital expenditure for procuring new plant and machinery to expand capacity, the repayment or pre-payment of outstanding debt facilities, and general corporate requirements. Pantomath Capital Advisors acted as the book-running lead manager for the issue, with MUFG Intime India serving as registrar.

Tags: Manika Plastech NSE BSE Primary Markets Packaging Sector SEBI