Manika Plastech IPO
Manika Plastech Limited (MANIKA) · mainboard IPO on NSE and BSE · Book Building. Listed on 21 September 2026.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +1.7% (likely range -12% to +9%), day's high +3.3%, chance of a gain 51%. Actual: 0.0% at the open, +1.2% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 59,87,209 | 6,54,79,332 | 10.9x | |
| NII (HNI) total | 46,19,913 | 29,14,69,836 | 63.1x | |
| Big NII (above ₹10 lakh) | 30,79,942 | 21,64,32,336 | 70.3x | |
| Small NII (₹2-10 lakh) | 15,39,971 | 7,50,37,500 | 48.7x | |
| Retail | 1,07,79,797 | 24,49,44,672 | 22.7x | |
| Total | 2,13,86,919 | 60,18,93,840 | 28.1x |
Bids on NSE and BSE together, as published by NSE, as of 16 Sep 2026, 07:00 PM. Shares offered exclude the anchor portion. 36% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Manika Plastech's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Valiant LaboratoriesOct 2023 | 20.8x | 73.6x | 16.1x | 29.8x | ₹152 Cr | +15.8% | +21.6% |
| Deepak Builders & Engineers IndiaOct 2024 | 13.9x | 82.5x | 39.8x | 41.5x | ₹260 Cr | -1.5% | -1.5% |
| Vidya WiresDec 2025 | 5.12x | 52.0x | 27.9x | 26.6x | ₹321 Cr | 0.0% | +12.4% |
| Pyramid TechnoplastAug 2023 | 9.94x | 32.2x | 14.7x | 18.3x | ₹153 Cr | +12.7% | +13.2% |
| Stove KraftJan 2021 | 8.02x | 32.7x | 26.0x | 18.0x | ₹413 Cr | +29.4% | +29.4% |
| R K SwamyMar 2024 | 20.6x | 34.4x | 34.0x | 25.9x | ₹424 Cr | -13.2% | -1.1% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Pantomath Capital Advisors | 19 | +20.0% | 79% |
Offer documents (NSE)
Frequently asked
What is the Manika Plastech IPO price band and lot size? ₹40.0–43.0 per share, with a lot of 348 shares, so the smallest retail bid is ₹14,964.
How many times has it been subscribed? 28.1x overall: QIB 10.9x, NII 63.1x, retail 22.7x.
How did it list? It opened at ₹43.0, +0.0% against the issue price of ₹43.0, and closed its first day +0.3%.
