Manika Plastech Limited IPO — Subscription & GMP
- Price band
- ₹40 – ₹43
- Lot size
- 348
- Issue size
- ₹125.5 Cr
- Bidding
- 11 Sept 2026 → 16 Sept 2026
- Allotment
- —
- Listing
- 21 Sept 2026
Listing outcome
Official exchange pricesGMP was out by 4.7 percentage points against the buyer — it implied +4.65% and the issue listed 0.00%. Counted in our running GMP accuracy record.
Schedule
- 11 Sept 2026IPO open date
- 16 Sept 2026IPO close date
- 17 Sept 2026Allotment date†
- 17 Sept 2026Funds unblock or debit†
- 21 Sept 2026Tentative listing date
† Derived from the close date using the T+3 working-day timeline. The exchanges publish the open and close dates; the rest are indicative until confirmed, and exchange holidays are not accounted for.
Fundamentals
The business, its valuation and returnsManika Plastech Limited - Business Model Summary
Manika Plastech Limited operates as a design-led, precision-engineered manufacturer of rigid polymer packaging solutions, specializing in injection-moulded industrial and consumer containers.
Core Segments & Product Portfolio
1. Polymer Packaging Segments: - Battery Casings: Produces high-performance plastic casings servicing the automotive, energy storage, and renewable energy sectors. - Industrial Pails: Manufactures heavy-duty containers used for packaging paints, lubricants, chemicals, and construction materials. - Thinwall Containers: Supplies food-grade, lightweight containers designed for the dairy, FMCG, and edible food markets. - Specialized Services: Offers dedicated painting services for plastic automotive and industrial components.
2. Integrated End-to-End Capabilities: - Handles the entire value chain internally—spanning proprietary product design and development (backed by an in-house design team and registered designs), mould coordination, precision injection-moulding, heat transfer labelling, in-mould labelling (IML), screen printing, and quality assurance.
Revenue Streams
- B2B Institutional Sales: Generates primary revenue through direct, high-volume contract manufacturing and long-term supply agreements with prominent domestic and international original equipment manufacturers (OEMs) across paint, lubricant, automotive, and energy sectors (such as Luminous, Livguard, and Indigo Paints).
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS | ₹2.36 | — |
| P/E ratio | 18.22× | — |
| NAV per share | ₹15.54 | — |
Promoter holding pre/post issue is in the offer document but we do not yet extract it. Left blank rather than estimated.
Read from the company’s offer document filed with SEBI. Figures are the latest reported financial year, as restated in that filing.
Figures are as reported and not independently audited, and are read 45 d ago.
Grey market premium
Unofficial · not from any exchangeSubscription status
Live from NSE · fetched 792 hr ago| Category | Shares offered | Shares bid for | Subscribed |
|---|---|---|---|
| 1Qualified Institutional Buyers(QIBs) | 59.87 L | 5.81 Cr | 9.71× |
| 1(a)Foreign Institutional Investors(FIIs) | — | 1.66 Cr | — |
| 1(b)Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) | — | 7.04 L | — |
| 1(c)Mutual funds | — | 6.96 L | — |
| 1(d)Others | — | 4.02 Cr | — |
| 2Non Institutional Investors | 46.20 L | 24.69 Cr | 53.45× |
| 2.1Non Institutional Investors(Bid amount of more than Ten Lakh Rupees) | 30.80 L | 18.88 Cr | 61.31× |
| 2.1(a)Corporates | — | 17.08 L | — |
| 2.1(b)Individuals(Other than RIIs) | — | 18.14 Cr | — |
| 2.2Non Institutional Investors(Bid amount of more than Two Lakh Rupees upto Ten Lakh Rupees) | 15.40 L | 5.81 Cr | 37.72× |
| 3Retail Individual Investors(RIIs) | 1.08 Cr | 17.00 Cr | 15.77× |
| 3(a)Cut Off | — | 15.45 Cr | — |
| 3(b)Price bids | — | 1.55 Cr | — |
| Total | 2.14 Cr | 47.50 Cr | 22.21× |
Source: NSE issue information · BSE public issue
Demand curve
Shares bid at each price point · BSE₹40 → ₹43 · peak 60.25 Cr shares bid
Anchor investors
From NSE's anchor allocation filingAnchor investors are institutions allotted shares one working day before public bidding opens, in exchange for a lock-in. Up to 60% of the QIB portion can go to them, which reduces the QIB shares left for everyone else — and their participation is widely read as a confidence signal.
| # | Anchor investor | Shares | % of anchor | Amount |
|---|---|---|---|---|
| 1 | Allocation THEWEALTH COMPANY ALTERNATES TRUST-BHARAT VALUE FUND-SERIES III | 41.04 L | 46.87% | ₹17.65 Cr |
| 2 | TRUSTMF MULTI CAP FUND | 13.95 L | 15.94% | ₹6.00 Cr |
| 3 | FINAVENUE CAPITAL TRUST-FINAVENUE GROWTH FUND | 11.63 L | 13.28% | ₹5.00 Cr |
| 4 | NOVA GLOBAL OPPORTUNITIES FUND PCC-TOUCHSTONE | 11.63 L | 13.28% | ₹5.00 Cr |
| 5 | TRUSTMF LARGE & MID CAP FUND | 9.31 L | 10.63% | ₹4.00 Cr |
Read from NSE's anchor allocation report · 44 d ago. Published only because the 5 rows reconcile exactly against the 87.56 L shares the filing itself declares.
Equity split
Fresh equity vs offer for sale- Fresh equity
- ₹92.50 Cr 73.7%
- Offer for sale
- ₹33.00 Cr 26.3%
- Total issue size
- ₹125.50 Cr
Read from the issue size stated in NSE's filing. The filing quotes the offer for sale as 76.74 L shares rather than a rupee amount, so it is valued here at the cap price of ₹43 — the final figure moves with the issue price.
Allotment status
You will need your PAN, application number or DP/client ID. These links go to the registrar and exchanges directly — UpcomingIPO never asks for those details.
Issue details
- Price band
- ₹40 – ₹43
- Lot size
- 348 shares
- Min. bid quantity
- 348
- Face value
- ₹2.00
- Tick size
- ₹1.00
- Shares offered
- 2.14 Cr
- Issue size
- ₹125.5 Cr
- Max bid · QIB
- 2.14 Cr
- Max bid · NII
- 1.54 Cr
Timeline & process
- Bidding opens
- 11 Sept 2026
- Bidding closes
- 16 Sept 2026
- Bidding hours
- 10.00 a.m. to 5.00 p.m.
- UPI mandate cutoff
- 16-Sep-2026 (upto 5:00 PM) The new cut-off time for UPI mandate acceptance is 05:00 PM on last day of IPO bidding. Further bids with confirmed status of mandate amount blocked (RC100) shall be considered as valid applications and hence, investors are advised to submit their UPI applications in IPO well in advance to avoid any last minute technical/systemic constraints that may hamper their ability to participate in IPOs by successfully accepting the mandate.
- Allotment
- —
- Listing
- 21 Sept 2026
Intermediaries
- Registrar
- MUFG Intime India Private Limited
- Sponsor bank
- ICICI BANK
- Lead managers
- Pantomath Capital Advisors Private Limited