MANIKA PLASTECH IPO
MANIKA PLASTECH is a MAINBOARD IPO with a current status of OPEN. The price band is 40 - 43. The issue opens on 11 SEP and closes on 16 SEP. The listing date is 21 SEP.
Price Band
40 - 43
Unofficial GMP
₹12
Lot Size
348 shares
Minimum Investment
₹₹14,964
MANIKA PLASTECH IPO GMP
The latest available GMP is ₹12. Grey Market Premium is unofficial, may change frequently and does not guarantee the listing price, listing gains or investment returns.
Estimated Listing Price
₹55.00
Estimated Gain
+27.9%
MANIKA PLASTECH IPO GMP History
13
09 SEP
13
10 SEP
11
11 SEP
15
12 SEP
11
13 SEP
12
14 SEP
MANIKA PLASTECH IPO Details
- IPO Type
- MAINBOARD
- Status
- OPEN
- Price Band
- 40 - 43
- Issue Size
- 125.50 CR
- Issue Type
- Book Build Issue
- Fresh Issue
- ₹92.50 Cr
- Offer for Sale
- ₹33.00 Cr
- Face Value
- 2
- Lot Size
- 348
- Minimum Investment
- ₹14,964
- Exchange
- BSE, NSE
- Registrar
- MUFG Intime India Pvt.Ltd.
- Lead Managers
- Pantomath Capital Advisors Pvt.Ltd.
MANIKA PLASTECH IPO Dates
- Open Date
- 11 SEP
- Close Date
- 16 SEP
- Allotment Date
- 17 SEP
- Refund Date
- 18 SEP
- Demat Credit Date
- 18 SEP
- Listing Date
- 21 SEP
MANIKA PLASTECH IPO Subscription
- QIB
- 0.36x
- NII / HNI
- 1.26x
- Retail
- 2.24x
- Total
- 1.49x
MANIKA PLASTECH IPO Financials
Revenue
FY2026
₹435.98 Cr
+7.25% vs FY2025
PAT
FY2026
₹22.40 Cr
+15.88% vs FY2025
Total Assets
FY2026
₹323.69 Cr
+0.84% vs FY2025
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue | 360.77 | 406.50 | 435.98 |
| Net Profit | 11.53 | 19.33 | 22.40 |
| Total Assets | 252.93 | 320.98 | 323.69 |
MANIKA PLASTECH IPO Valuation
- Market Cap (Post IPO)
- ₹501.00 Cr
- EPS
- 2.36
- P/E Ratio
- 18.22x
- Price to Book Value
- 2.61
- Industry P/E
- 35.10x
- ROE
- 8.34%
- ROCE
- 8.34%
- RONW
- 8.34%
- Debt / Equity
- 0.59%
- PAT Margin
- 8.03%
- EBITDA Margin
- 15.01%
- Valuation
- ATTRACTIVE
MANIKA PLASTECH Peer Comparison
| Peer | Revenue | PAT | EPS | P/E | ROE | RONW | Debt / Equity |
|---|---|---|---|---|---|---|---|
| Hitech Corporation Ltd | 640.40 CR | 15.19 CR | 8.84 | 37.85x | 5.34% | 5.34% | -- |
| Mold-Tek Packaging Ltd | 886.61 CR | 72.87 cr | 21.93 | 32.34x | 10.56% | 10.56% | -- |
| Shaily Engineering Plastics Ltd | 990.67 CR | 169.91 CR | 36.97 | 88.55x | 23.71% | 23.71% | -- |
MANIKA PLASTECH IPO Market Lot
| Category | Lots | Shares | Investment |
|---|---|---|---|
| Retail Minimum | 1 | 348 | ₹14,964 |
| Retail Maximum | 13 | 4,524 | ₹1,94,532 |
| Small HNI | 14 | 4,872 | ₹2,09,496 |
| Big HNI | 67 | 23,316 | ₹10,02,588 |
MANIKA PLASTECH IPO Reservation
- QIB
- 50%
- NII / HNI
- 15%
- Retail
- 35%
MANIKA PLASTECH Promoter Holding and Anchor Allocation
- Pre-IPO Promoter Holding
- 100%
- Post-IPO Promoter Holding
- 74.95%
- Anchor Allocation
- 87,55,813 SHARE
MANIKA PLASTECH Company Overview
Manika Plastech Limited is an Indian precision-engineered rigid plastic packaging and polymer products manufacturer with a diversified product portfolio catering to several end-use industries. The company manufactures products such as battery casings, plastic pails, thin-wall containers and other injection-moulded components. Its products find applications across automobiles, railways, power and solar energy storage, paints, inks, distempers, agrochemicals, dairy and food packaging, among other industries. The company also operates a paint-shop business catering to automotive components. A key aspect of Manika Plastech's operating model is its focus on product customization, design and development, manufacturing efficiency and proximity to customers. The company has dedicated design and development capabilities and manufactures products based on specific customer requirements. This is particularly relevant for products such as battery casings and industrial packaging, where specifications, durability and consistent quality are important. The company has established a geographically diversified manufacturing footprint. According to its disclosures, it operates seven facilities, including manufacturing units in Dehradun, Hosur, Panipat, Una and Dadra, along with a painting facility in Hosur. Its manufacturing facilities generally operate in multiple shifts, helping the company utilize installed capacity and service customers across different regions of India. Manika Plastech's diversified end-user exposure, customized product capabilities and strategically located manufacturing facilities provide it with an established position in India's rigid plastic packaging and injection-moulded products industry. SEBI records show that the company's final RHP was filed on September 7, 2026.
MANIKA PLASTECH Business Model
Manika Plastech operates primarily through multiple product verticals comprising the Battery Division, Pail Division, Thinwall Division and Paintshop Division. The Battery Division manufactures plastic battery casings used in applications such as automobiles, railways, power systems and solar energy storage. These products require precise manufacturing specifications because they form an important structural component of batteries. The Pail Division manufactures rigid plastic containers used by industries such as paints, inks, distempers and agrochemicals. Its Thinwall Division manufactures lightweight plastic packaging primarily for applications such as ice cream, dairy and other food products. This allows Manika Plastech to participate in consumer-oriented packaging demand in addition to industrial packaging. The Paintshop Division provides painting solutions for automotive components, expanding the company's presence beyond conventional plastic packaging. The company also manufactures automotive plastic parts such as floor boards, cover frames, body fenders and seat bases. The company's business model combines design, product development, tooling/customization, manufacturing and technical support. It aims to manufacture customized products according to customer specifications while maintaining production facilities near important customer clusters. Its manufacturing footprint across northern, western and southern India supports this strategy. However, despite serving a relatively broad customer base, the business has meaningful customer concentration. The DRHP states that more than 64% of revenue from operations was generated from the top five customers during the periods disclosed. Therefore, maintaining long-term customer relationships, product quality and competitive pricing remains critical to the company's operating performance.
MANIKA PLASTECH Objects of the Issue
1 Funding the capital expenditure towards purchase of plant and machinery 54.93 2 Repayment and/or pre-payment, in part or full, of certain borrowings availed by Company 15.00 3 General Corporate Purposes Total 69.93
MANIKA PLASTECH Strengths
One of Manika Plastech's principal strengths is its diversified product portfolio and exposure to multiple industries. Instead of depending entirely on a single plastic-product category, the company participates in battery casings, rigid pails, thin-wall food packaging and automotive component painting. Its products therefore serve industries including automobiles, energy storage, railways, solar power, paints, agrochemicals, dairy and food. This diversification can reduce dependence on demand conditions in any one end-user industry. Another important strength is its strategically distributed manufacturing footprint. The company has facilities across Dehradun, Una, Panipat, Dadra and Hosur, together with its Hosur painting facility. This gives it manufacturing presence across northern, western and southern India and can help reduce transportation time and improve responsiveness to customers located near these manufacturing clusters. The company also emphasizes customization and in-house design and development. Industrial customers often require products manufactured according to specific dimensions, performance requirements and designs. Manika Plastech's dedicated design and development capabilities can therefore help deepen customer relationships and support repeat orders. Quality-management infrastructure is another positive factor. The company reports multiple certifications across its manufacturing locations, including ISO-related certifications and IATF 16949 at its Hosur facility. Finally, its presence across both industrial and consumer-facing packaging applications provides opportunities to benefit from the longer-term growth of organized rigid plastic packaging, automotive components and energy-storage applications in India.
MANIKA PLASTECH Risks
The most important risk for Manika Plastech is customer concentration. According to its offer-document disclosures, more than 64% of revenue from operations came from its top five customers during the periods disclosed. Even though the company served roughly 178–200 customers during the relevant periods, losing a major customer or experiencing a substantial reduction in orders from one or more key customers could materially affect revenue, profitability and cash flows. The company is also exposed to raw-material price and supply risks. Plastic manufacturing depends significantly on polymer-based raw materials, whose prices may fluctuate because of crude-oil movements, global supply-demand conditions and other factors. If input costs rise sharply and the company cannot pass these increases on to customers promptly, operating margins could come under pressure. Manufacturing concentration and operational disruptions are additional risks. The company operates several manufacturing facilities, and production can be affected by equipment breakdowns, labour issues, electricity disruptions, logistics problems, regulatory issues or other unexpected events. There is also competition from domestic rigid-plastic packaging and injection-moulding manufacturers. Maintaining customer relationships requires consistent product quality, competitive pricing, timely delivery and continuous product development. Finally, Manika Plastech operates a working-capital-intensive manufacturing business. Growth can require additional investment in inventories, receivables, machinery and manufacturing capacity. Higher borrowing requirements or slower customer collections could consequently affect cash flows and leverage.
MANIKA PLASTECH Frequently Asked Questions
What is the MANIKA PLASTECH IPO price band?
The MANIKA PLASTECH IPO price band is 40 - 43.
What is the latest MANIKA PLASTECH IPO GMP?
The latest available MANIKA PLASTECH IPO GMP in the IPOWEB database is ₹12. GMP is unofficial and does not guarantee a listing gain.
When does the MANIKA PLASTECH IPO open and close?
The MANIKA PLASTECH IPO opens on 11 SEP and closes on 16 SEP.
When is the MANIKA PLASTECH IPO allotment date?
The MANIKA PLASTECH IPO allotment date is 17 SEP.
When is the MANIKA PLASTECH IPO listing date?
The MANIKA PLASTECH IPO listing date is 21 SEP.
What is the MANIKA PLASTECH IPO subscription?
The latest total subscription available for the MANIKA PLASTECH IPO is 1.49x.