Manika Plastech IPO GMP today is Rs 1. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
Mainboard IPO
MANIKA
Manika Plastech IPO GMP & Allotment
Manika Plastech produces rigid plastic packaging products, concentrating primarily on battery casings, pails, and thin-wall containers. The company manufactures its product offerings using an injection moulding process and operates six manufacturing facilities located across Dehradun, Hosur, Panipat, Una, and Dadra, alongside a dedicated painting facility in Hosur. Revenue is primarily generated through the direct sale of its rigid plastic packaging products to various corporate customers. Additionally, the company earns revenue by offering specialized painting services for automotive components at its Hosur location. Manika Plastech caters to prominent original equipment manufacturers and customer accounts across sectors such as battery manufacturing, industrial chemicals, paints, and automotive components. The company positions its operating facilities in close physical proximity to the manufacturing plants of its primary customer accounts to support localized supply requirements.
- IPO Price Band
- ₹40.00 - ₹43.00
- Lot Size
- 348 Shares
- Bidding Closes
- 16 Sept 2026
- Listing Date
- 21 Sept 2026
Current GMP Status
₹1
+2.33% vs upper band
Est. Listing Gain
-1.74%
Last Trend
21 Sept 2026
Listing Price
₹42.25
Retail Entry
₹14,964
IPO Details
Complete IPO information
| IPO Open Date | 11 Sept 2026 |
|---|---|
| IPO Close Date | 16 Sept 2026 |
| IPO Price Band | ₹40.00 - ₹43.00 |
| Lot Size | 348 Shares |
| Current GMP | ₹1 |
| Estimated Listing Gain | -1.74% |
| Issue Size | Approx ₹125.50 Cr |
| Fresh Issue | Approx ₹92.50 Cr |
| Issue Type | Mainboard |
| IPO Listing | BSE, NSE |
| Retail Quota | TBA |
| Registrar | MUFG Intime India Pvt. Ltd. |
| Overall Subscription | 28.14x |
| Minimum Investment | ₹14,964 |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
Demand Tracker
Subscription Status
| Category | Shares Reserved | Shares Applied | Subscription (x) |
|---|---|---|---|
| QIB | 59.87 | 654.79 | 10.94x |
| NII | 46.20 | 2914.65 | 63.09x |
| Retail | 107.80 | 2449.11 | 22.72x |
| Overall Subscription | 213.87 | 6018.55 | 28.14x |
Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, Manika Plastech is priced at ₹43 per share. With a minimum lot size of 348 shares, a retail investor applying for one lot would need approximately ₹14,964 to participate in this Mainboard issue.
The latest recorded Grey Market Premium for Manika Plastech stands at ₹1, implying an estimated listing gain of around 2.33% over the issue price if it holds until listing. This is down ₹1 from its previously recorded level. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
As of the latest update, Manika Plastech's IPO was subscribed 28.14x overall, with a category-wise breakdown of Retail 22.72x, QIB 10.94x, NII 63.09x.
Among the strengths highlighted in Manika Plastech's IPO documents: Long-standing relationships with key clients across diversified industries.; Manufacturing units located near major customers for reliable supply..
Investors should also weigh the risk factors Manika Plastech has disclosed, including: High dependency on the top five customers for the majority of operating revenue..
A share of Manika Plastech's issue proceeds is earmarked for Repayment Of Borrowings: 15 (16.22%).
Mainboard IPOs list on the main platform of BSE/NSE, typically involve larger issue sizes, and draw participation across retail, HNI and institutional (QIB) investor categories.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
11 Sept 2026
✓
Bidding Closes
16 Sept 2026
✓
Allotment
17 Sept 2026
✓
Listing
21 Sept 2026
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 21 Sept 2026 | ₹1.00 | -₹1.00 | 2.33% |
| 17 Sept 2026 | ₹2.00 | -₹1.00 | 4.65% |
| 16 Sept 2026 | ₹3.00 | -₹8.00 | 6.98% |
| 15 Sept 2026 | ₹11.00 | - | 25.58% |
| 14 Sept 2026 | ₹11.00 | -₹2.00 | 25.58% |
| 11 Sept 2026 | ₹13.00 | -₹4.00 | 30.23% |
| 10 Sept 2026 | ₹17.00 | - | 39.53% |
| 09 Sept 2026 | ₹17.00 | -₹3.00 | TBA |
| 08 Sept 2026 | ₹20.00 | +₹20.00 | TBA |
| 07 Sept 2026 | ₹0.00 | - | TBA |
| 06 Sept 2026 | ₹0.00 | - | TBA |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 Lot | 348 | ₹14,964 |
| Retail Maximum | 13 Lot | 4,524 | ₹1,94,532 |
| S-HNI Minimum | 14 Lot | 4,872 | ₹2,09,496 |
| S-HNI Maximum | 66 Lot | 22,968 | ₹9,87,624 |
| B-HNI Minimum | 67 Lot | 23,316 | ₹10,02,588 |
Swipe to see more →
Fund Utilization
Objects of the Issue & Official Documents
- Repayment Of Borrowings 15 (16.22%)
- General Corporate Purpose 22.57 (24.40%)
Issue Notes
Important takeaways before applying
Strengths
- Long-standing relationships with key clients across diversified industries.
- Manufacturing units located near major customers for reliable supply.
- Diverse product portfolio specializing in durable battery casings and pails.
- Advanced facilities equipped with automated injection moulding machinery.
- Experienced promoter group driving strategic expansion and operational growth.
Risks
- High dependency on the top five customers for the majority of operating revenue.
- Substantial sales concentration in a single product segment, battery casings.
- Exposure to raw material price volatility, particularly for polymer resins.
- Operation of several manufacturing and warehouse facilities on leased land.
- Substantial working capital needed to finance receivables and inventory levels.
Analysis
Manika Plastech IPO Reservation
The Manika Plastech IPO reservation is divided among qualified institutional buyers, non-institutional investors and retail investors. The allocation provides a clear view of how the IPO shares are proposed to be distributed across the major investor categories.
QIB investors excluding the anchor portion are reserved 50% of the offered shares, while NII investors have a 15% allocation. Retail investors are entitled to 35% of the issue. The anchor investor share count and percentage are currently shown as not available in the provided allocation details.
| Investor Category | Share Offered | -% Shares |
|---|---|---|
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
Note: Reservation figures are based on the IPO allocation details provided for Manika Plastech IPO.
Analysis
Manika Plastech IPO Dates
The Manika Plastech IPO is scheduled to open on September 11, 2026, and close on September 16, 2026. The basis of allotment is expected to be finalized on September 17, followed by refunds and credit of shares to eligible investors on September 18.
The Manika Plastech IPO listing is scheduled for September 21, 2026. Investors can follow the timeline below to track each important stage of the IPO process, from subscription and allotment to demat credit and listing.
| Particular | Details |
|---|---|
| IPO Open Date | September 11, 2026 |
| IPO Close Date | September 16, 2026 |
| Basis of Allotment | September 17, 2026 |
| Refunds | September 18, 2026 |
| Credit to Demat Account | September 18, 2026 |
| IPO Listing Date | September 21, 2026 |
Note: IPO dates are based on the schedule provided for Manika Plastech IPO.
Analysis
Manika Plastech IPO Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 11 Sept 2026 |
| IPO Close Date | 16 Sept 2026 |
| Basis of Allotment | 17 Sept 2026 |
| Refunds | 18 Sept 2026 |
| Credit to Demat Account | 18 Sept 2026 |
| IPO Listing Date | 21 Sept 2026 |
Note: The timeline for Manika Plastech IPO is tentative and subject to change.
Analysis
Manika Plastech Objects of the Issue & Utilisation of Proceeds
The proceeds raised through the Manika Plastech IPO are primarily planned to support the company's capital expenditure requirements and strengthen its financial position. A major portion of the funds will be used for purchasing plant and machinery to support the company's operational and manufacturing requirements.
The company also proposes to use part of the IPO proceeds for the repayment and/or pre-payment of certain borrowings. The remaining amount, if any, will be available for general corporate purposes. The proposed utilisation of the issue proceeds is given below.
| Particular | Details |
|---|---|
| Plant and Machinery | ₹59.82 Cr |
| Repayment / Pre-payment of Borrowings | ₹25.00 Cr |
| General Corporate Purposes | ₹- |
Note: The utilisation amounts are based on the IPO issue details provided for Manika Plastech.
Analysis
Manika Plastech Objects of the Issue & Utilisation of Proceeds
| Purpose | Crores |
|---|---|
| Purpose | INR crores (%) |
| Funding capital expenditure for the purchase of plant and machinery | 54.93 (59.38%) |
| Repayment and/or prepayment of certain borrowings | 15 (16.22%) |
| General corporate purposes | 22.57 (24.40%) |
Note: Objectives are as specified in the DRHP/RHP documents of Manika Plastech.
Analysis
Manika Plastech Company Financials
Manika Plastech has shown steady growth in revenue and profitability across the reported financial periods. Revenue increased from ₹368.76 Crores in 2024 to ₹437.26 Crores in 2026, while profit after tax also improved during the same period.
The company reported a PAT of ₹22.40 Crores in 2026 compared with ₹11.53 Crores in 2024. The June 2026 figures provide an additional view of the company's financial performance during the latest reported period.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | ₹368.76 Cr | ₹352.40 Cr | ₹11.53 Cr | ₹252.93 Cr |
| 2025 | ₹412.59 Cr | ₹387.16 Cr | ₹19.33 Cr | ₹320.99 Cr |
| 2026 | ₹437.26 Cr | ₹406.83 Cr | ₹22.40 Cr | ₹323.69 Cr |
| June 2026 | ₹162.71 Cr | ₹145.16 Cr | ₹13.07 Cr | ₹317.00 Cr |
Note: Amounts are presented in ₹ Crores. June 2026 represents the latest reported interim period.
Analysis
Manika Plastech Company Financials
| Period | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | 368.76 Cr. | 352.40 Cr. | 11.53 Cr. | 252.93 Cr. |
| 2025 | 412.59 Cr. | 387.16 Cr. | 19.33 Cr. | 320.99 Cr. |
| 2026 | 437.26 Cr. | 406.83 Cr. | 22.40 Cr. | 323.69 Cr. |
| June 2026 | 162.71 Cr. | 145.16 Cr. | 13.07 Cr. | 317.00 Cr. |
Note: Financial numbers for Manika Plastech are in ₹ Crores unless stated otherwise.
Analysis
Manika Plastech Company Valuation – FY2026
| KPI | Values |
|---|---|
| ROE | 15.18% |
| ROCE | 18.77% |
| EBITDA Margin | 13.34% |
| PAT Margin | 5.12% |
| Debt to Equity Ratio | 0.60 |
| Earning Per Share (EPS) | 2.36 (Basic) |
| Price/Earning P/E Ratio | - |
| Return on Net Worth (RoNW) | 15.18% |
| Net Asset Value (NAV) | 15.54 |
Note: Valuation KPIs for Manika Plastech are computed for FY2026.
Analysis
Manika Plastech IPO Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Hitech Corporation Limited | 8.84 | 37.85 | 5.34% | 165.72 | 640.40 Cr. |
| Mold-Tek Packaging Limited | 21.93 | 32.34 | 10.56% | 207.64 | 886.61 Cr. |
| Shaily Engineering Plastics Limited | 36.97 | 88.85 | 23.71% | 155.95 | 990.67 Cr. |
Note: Peer group comparisons for Manika Plastech are sourced from DRHP filings.
Comparison
Compare Manika Plastech IPO with similar IPOs
FAQ
Manika Plastech IPO FAQs
Manika Plastech IPO price band is Rs 40.00 to Rs 43.00. Check the latest issue price, lot size and GMP together before applying.
Manika Plastech IPO open date is 11 Sept 2026, close date is 16 Sept 2026, and listing date is 21 Sept 2026.
Manika Plastech IPO lot size is 348 shares. The minimum retail investment is Rs 14,964.
Manika Plastech is classified as a Mainboard IPO. This helps investors quickly understand the issue category and exchange segment.
Manika Plastech IPO subscription status currently shows Retail 22.72x, QIB 10.94x, NII 63.09x, Overall 28.14x.
Manika Plastech produces rigid plastic packaging products, concentrating primarily on battery casings, pails, and thin-wall containers. The company manufactures its product offerings using an injection moulding process and operates six manufacturing facilities located across Dehradun, Hosur, Panipat, Una, and Dadra, alongside a dedicated painting facility in Hosur. Revenue is primarily generated through the direct sale of its rigid plastic packaging products to various corporate customers. Additionally, the company earns revenue by offering specialized painting services for automotive components at its Hosur location. Manika Plastech caters to prominent original equipment manufacturers and customer accounts across sectors such as battery manufacturing, industrial chemicals, paints, and automotive components. The company positions its operating facilities in close physical proximity to the manufacturing plants of its primary customer accounts to support localized supply requirements.
Manika Plastech IPO issue size is 125.5 and the expected allotment date is 17 Sept 2026.
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