Manika Plastech IPO 2026 is a book-built public issue of Manika Plastech Limited. The IPO opened for subscription on September 11, 2026, and is scheduled to close on September 16, 2026. The company aims to raise approximately ₹125.50 crore through a combination of a fresh issue and an offer for sale.
The IPO has a price band of ₹40 to ₹43 per share, with a minimum lot size of 348 shares. The shares are proposed to be listed on the BSE and NSE.
Manika Plastech IPO open date is September 11, 2026 and the IPO will close on September 16, 2026. Manika Plastech IPO is a Book build Issue. The company to raise around ₹125.50 crores via IPO that comprises fresh issue of ₹92.5 crores and offer for sale up to 76,74,418 equity shares with face value of ₹2 each.
Manika Plastech IPO price band is ₹40 to ₹43 per share. The retail quota is 35%, QIB is 50%, and HNI is 15%. Manika Plastech IPO to list on BSE, NSE on September 21, 2026. The allotment of Manika Plastech IPO date is September 17, 2026.
The company reported revenue of ₹437.26 crores in 2026 against ₹412.59 crores in 2025. The company reported profit of ₹22.40 crores in 2026 against profit of ₹19.33 crores in 2025. As per the financials, the IPO investors should apply the IPO for a long term.
Manika Plastech IPO Details
| Particulars | Details |
|---|---|
| IPO Name | Manika Plastech IPO |
| IPO Type | Mainboard IPO |
| Issue Size | ₹125.50 Crore |
| Fresh Issue | ₹92.50 Crore |
| Offer for Sale | ₹33.00 Crore |
| Price Band | ₹40 – ₹43 per share |
| Face Value | ₹2 per share |
| IPO Open Date | September 11, 2026 |
| IPO Close Date | September 16, 2026 |
| Lot Size | 348 Shares |
| Minimum Investment | ₹14,964 |
| Listing | BSE & NSE |
| Basis of Allotment | September 17, 2026 |
| Share Credit/Refund | September 18, 2026 |
| Expected Listing Date | September 21, 2026 |
| Registrar | MUFG Intime India Pvt. Ltd. |
| Lead Manager | Pantomath Capital Advisors Pvt. Ltd. |
| Subscription Details (No. of Shares) | |||
|---|---|---|---|
| Category | Offered | Applied | Times |
| QIBs | 5837210 | 2098440 | 0.36 |
| HNIs | 4377907 | 5544684 | 1.27 |
| HNIs 10+ | 2918605 | 1785588 | 0.61 |
| HNIs 2+ | 1459302 | 3759096 | 2.58 |
| Retail | 10215116 | 23532456 | 2.3 |
| Total | 20430233 | 31175580 | 1.53 |
| Application-Wise Breakup (Approx. no. of Apps) | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (10L+) | 599 | 73 | 0.12 |
| HNIs (2-10L) | 300 | 720 | 2.4 |
| Retail | 29354 | 56448 | 1.92 |
Total Applications: 57241
| Subscription Demand (in ₹ crore) | |||
|---|---|---|---|
| Category | Offered | Applied | Times |
| QIBs | 25.1 | 9.02 | 0.36 |
| FIIs | - | 0 | - |
| DIIs | - | 0 | - |
| Mutual funds | - | 0 | - |
| Others | - | 9.02 | - |
| HNIs | 18.83 | 23.84 | 1.27 |
| HNIs 10+ | 12.55 | 7.68 | 0.61 |
| HNIs 2+ | 6.27 | 16.16 | 2.58 |
| Retail | 43.92 | 101.19 | 2.3 |
| Total | 87.85 | 134.05 | 1.53 |
| 7% | 8% | 9% | 10% | 11% | 12% |
|---|---|---|---|---|---|
| ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
Lot Size & Investment
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 348 | 14964 | 29354 |
| sHNI | 14 | 4872 | 209496 | 300 |
| bHNI | 67 | 23316 | 1002588 | 599 |
Share Reservation
| Category | Shares Offered | % |
|---|---|---|
| Total | 29186046 | 100% |
| Anchor | 8755813 | 30% |
| QIB | 5837210 | 20% |
| HNI | 4377907 | 15% |
| Retail | 10215116 | 35% |
Key Performance Indicators (KPI)
| KPI | Jun-26 | Mar-26 | Mar-25 |
|---|---|---|---|
| RONW | 15.18% | 15.44% | 10.68% |
| EPS (BASIC) | 1.38 | 2.36 | 2.03 |
| P/E PRE IPO | 18.22 | ||
| P/E POST IPO | 9.58 |
Company Financial (In ₹Crore)
| Period Ended | Jun-26 | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|---|
| Assets | 317.00 | 323.69 | 320.99 | 252.93 |
| Total Income | 162.71 | 437.26 | 412.59 | 368.76 |
| Profit After Tax | 13.07 | 22.4 | 19.33 | 11.53 |
| EBITDA | 24.38 | 58.14 | 45.3 | 30.86 |
| NET Worth | 156.78 | 147.62 | 125.17 | 107.99 |
| Reserves and Surplus | 136.97 | 127.69 | 105.29 | 88.05 |
| Total Borrowing | 92.46 | 88.19 | 97.45 | 93.06 |
Peer Comparision (Valuation)
| Company | P/E (x) | CMP (₹) | Face value (₹) |
|---|---|---|---|
| Manika Plastech Limited | 18.22 | 43 | 2 |
| Hitech Corporation Limited | 37.85 | 334.6 | 10 |
| Mold-Tek Packaging Limited | 32.34 | 709.25 | 5 |
| Shaily Engineering Plastics Limited | 88.85 | 3,272.30 | 2 |
Source: RHP, Price/earnings ratio for the peer group has been computed based on the closing market price of equity shares on stock exchanges as on August 31, 2026, divided by the earnings per share for the Fiscal 2026.
Peer Comparision (Financial Performance)
| Company | NAV/Share (₹) | RoNW (%) | EPS (Basic) (₹) |
|---|---|---|---|
| Manika Plastech Limited | 15.54 | 15.18% | 2.36 |
| Hitech Corporation Limited | 165.72 | 5.34% | 8.84 |
| Mold-Tek Packaging Limited | 207.64 | 10.56% | 21.93 |
| Shaily Engineering Plastics Limited | 155.95 | 23.71% | 36.97 |
About Company
Incorporated in 1996, Manika Plastech Limited is engaged in the manufacturing of rigid polymer packaging products, including battery casings, pails and thinwall containers. Its products cater to diverse industrial and consumer applications, including automotive, energy storage, paints, lubricants, agrochemicals, construction chemicals, food and dairy.
The company provides end-to-end packaging solutions covering design and development, raw material sourcing, manufacturing, heat sealing, labelling, quality assurance and delivery. It also offers customised packaging solutions and manufactures automotive battery casings according to Japanese and German technical standards, including JIS and DIN standards.
Manika Plastech operates six manufacturing facilities and one painting facility across India, located in Dadra, Dehradun, Hosur, Panipat and Una. Its facilities manufacture battery casings, pails, thinwall containers and automotive components, while the Hosur painting facility provides painting services for automotive components.
The company serves a diversified customer base across multiple industries. During the three-month period ended June 30, 2026 and the preceding three Fiscals, it served between 168 and 242 customers across 24 states and union territories. Its top 20 customers had an average relationship tenure of over 10 years as of June 30, 2026.
As of July 31, 2026, the company had 352 employees and 809 contract labourers. Its long operating history and manufacturing footprint have enabled it to build relationships across multiple industries and provide customised packaging and component solutions close to key customers.
Strengths
Proximity to Key Customers: The company's facilities are strategically located close to the manufacturing units of key customers. This operational flexibility supports customer retention, responsiveness and efficient customer service.
Entry Barriers & Customer Retention: The company has established operational capabilities and customer relationships that can create entry barriers for competitors and make it more difficult for customers to switch suppliers. Its longstanding customer relationships further support business continuity.
Integrated Value-Added Services: Manika Plastech provides integrated services covering in-house design, product development and labelling in addition to manufacturing. These capabilities enable the company to offer customised, end-to-end rigid polymer packaging solutions.
Risk Factors
High Customer Concentration: Around 58%–69% of operating revenue was derived from the top five customers during the three months ended June 30, 2026 and the preceding three Fiscals. The loss of any major customer or a significant reduction in revenue from them could materially affect the company's business and financial performance.
Dependence on Key Customer Locations: The company generally establishes operating facilities or warehouses near the manufacturing units of key customers to serve their requirements. Any fluctuations in the scale of business of these customers or adverse trends in their respective industries could therefore affect the company's operations.
Dependence on Battery Casings:Battery casings contributed approximately 54%–68% of revenue from operations during the three months ended June 30, 2026 and the preceding three Fiscals. A significant decline in battery casing sales could adversely affect the company's business, financial condition, results of operations and cash flows.
Conclusion
The Manika Plastech IPO 2026 is a ₹125.50 crore public issue with a price band of ₹40–₹43 per share and a lot size of 348 shares. The issue combines a fresh issue and an offer for sale and is proposed to list on BSE and NSE.
Investors should study the company's financials, valuation, business prospects and risk factors before applying. GMP can provide an indication of market sentiment, but it should not be treated as a reliable prediction of the listing price.
Manika Plastech IPO – FAQs
What is the Manika Plastech IPO date?
The Manika Plastech IPO opened on September 11, 2026, and is scheduled to close on September 16, 2026.
What is the Manika Plastech IPO price band?
The price band is ₹40 to ₹43 per equity share.
What is the Manika Plastech IPO lot size?
The minimum IPO lot size is 348 shares.
What is the minimum investment in Manika Plastech IPO?
At the upper price band of ₹43, the minimum investment for one lot is ₹14,964.
What is the Manika Plastech IPO issue size?
The total issue size is approximately ₹125.50 crore, comprising a fresh issue of ₹92.50 crore and an offer for sale of ₹33 crore.
Where will Manika Plastech shares be listed?
The shares are proposed to be listed on BSE and NSE.
What is Manika Plastech IPO GMP today?
Manika Plastech IPO GMP is unofficial and can change throughout the day. Investors should check the latest GMP before making any decision and should not consider it a guaranteed listing gain.
When is Manika Plastech IPO allotment?
The tentative basis of allotment date is September 17, 2026. Shares are expected to be credited on September 18, with listing scheduled for September 21.