Manika Plastech IPO
ListedMainboardOpens 11 September 2026Closes 16 September 2026
Incorporated in 1996, Manika Plastech Limited is a specialized Indian manufacturer of rigid plastic packaging (RPP) solutions, primarily producing customized battery casings, pails, thinwall food packaging containers,…
Incorporated in 1996, Manika Plastech Limited is a specialized Indian manufacturer of rigid plastic packaging (RPP) solutions, primarily producing customized battery casings, pails, thinwall food packaging containers, and automotive components. The company provides integrated solutions spanning product design, mould development, injection moulding, and in-mould labelling (IML) across seven operating facilities in Dehradun (Uttarakhand), Hosur (Tamil Nadu), Panipat (Haryana), Una (Himachal Pradesh), and Dadra (Dadra and Nagar Haveli and Daman and Diu) with a combined installed capacity of 27,600 MTPA. Supported by five regional warehouses, Manika Plastech operates a customer-proximate manufacturing model serving major corporate clients across the energy storage, paints, chemicals, lubricants, and food & beverage industries.
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Key ratios
As per RHP / filingsTimeline
IPO Opens
11 Sept 2026
IPO Closes
16 Sept 2026
Allotment
17 Sept 2026
Listing
21 Sept 2026
IPO Timeline & Listing Details
| Event | Date |
|---|---|
| IPO Open Date | 11 September 2026 |
| IPO Close Date | 16 September 2026 |
| Allotment Date | 17 September 2026 |
| Listing Date | 21 September 2026 |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Retail (Min) | 1 | ₹14,964 |
Retail (Max)Just less than ₹2,00,000 | 13 | ₹1,94,532 |
SHNI (Min)Just above ₹2,00,000 | 14 | ₹2,09,496 |
SHNI (Max)Below ₹10,00,000 | 66 | ₹9,87,624 |
BHNIAbove ₹10,00,000 | 67 | ₹10,02,588 |
IPO Reservation Details
| Category | Reservation |
|---|---|
| QIB (Qualified Institutional Buyer) | 50.00% |
| NII (Non-Institutional Investor) | 15.00% |
| SHNI (Small Non-Institutional Investor) | 5.00% |
| BHNI (Big Non-Institutional Investor) | 10.00% |
| Retail | 35.00% |
| Total | 100.00% |
IPO Objectives
- Funding the capital expenditure towards purchase of plant and machinery (₹54.93 Cr).
- Repayment and/or pre-payment, in part or full, of certain borrowings availed by Company (₹15.00 Cr).
- General Corporate Purposes.
Strengths
- Strategic proximity of Operating Facilities and warehouses to key customer clusters, enabling flexible production planning and just-in-time delivery.
- High customer retention and exit barriers driven by tailored tooling, mould engineering, and stringent supplier qualification cycles.
- End-to-end integration across product design, mould manufacturing, injection moulding, painting, and in-mould labelling.
- Strong repeat client base including industry leaders such as Livguard, Luminous Power, Grasim Industries, JSW Paints, Kansai Nerolac, Indigo Paints, and TVS Motor Company.
Weaknesses
- Customer concentration risk, with top 5 customers accounting for 62.95% of operational revenue in FY26 and 58.75% in Q1 FY27.
- High revenue dependence on battery casings, which represented 56.54% of FY26 revenue and 54.38% of Q1 FY27 revenue.
- Vulnerability to raw material cost fluctuations, particularly polypropylene copolymer (PPCP) and crude oil derivatives.
- Absence of long-term purchase agreements with majority of customers, conducting business primarily on short-term purchase orders.
Financial Performance
| Period Ended | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets (₹ Cr.) | 317 | 323.69 | 320.99 | 252.93 |
| Revenue (₹ Cr.) | 162.71 | 437.26 | 412.59 | 368.76 |
| PAT (₹ Cr.) | 13.07 | 22.4 | 19.33 | 11.53 |
| Net Worth (₹ Cr.) | 156.78 | 147.62 | 125.17 | 107.99 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Manika Plastech | 2.77 | 22.4 | 15.18% | 147.62 |
| Shaily Engineering Plastics | 21.64 | 87.7 | 23.71% | 547.69 |
| Mold-Tek Packaging | 3.32 | 30.12 | 10.56% | 457.11 |
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.36x | 0.82x | 11.22x |
| NII | 1.26x | 11.32x | 66.58x |
| S-HNI | 2.55x | 17.27x | 51.42x |
| B-HNI | 0.61x | 8.34x | 74.16x |
| RII | 2.24x | 12.23x | 23.98x |
| Total | 1.49x | 8.78x | 29.46x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 58,37,210 | 6,54,79,332 | 281.56 |
| NII | 43,77,907 | 29,14,64,964 | 1,253.3 |
| Small NII | 14,59,302 | 7,50,32,628 | 322.64 |
| Big NII | 29,18,605 | 21,64,32,336 | 930.66 |
| RII | 1,02,15,116 | 24,49,10,568 | 1,053.12 |
| Total | 2,04,30,233 | 60,18,54,864 | 2,587.98 |
Company Details
- Manika Plastech Limited
- Gala Number C/22-26, First Tax Free Industrial Estate, Silvassa Khanvel Road, Village Saily, Silvassa - 396 230, Dadra & Nagar Haveli, India
- +91 22 4223 4300
- cs@manikaplastech.com
- https://www.manikaplastech.com
Registrar Details
- MUFG Intime India Private Limited
- +91 810 811 4949
- manikaplastech.ipo@in.mpms.mufg.com
- https://in.mpms.mufg.com/
Frequently Asked Questions
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Manika Plastech IPO News & Updates
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Manika Plastech IPO IPO Pages
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Manika Plastech IPO Details
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Manika Plastech IPO GMP
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Manika Plastech IPO Subscription
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Manika Plastech IPO Allotment
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Manika Plastech IPO Review
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Manika Plastech IPO FAQ
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Manika Plastech IPO Registrar
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Manika Plastech IPO Timeline
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Manika Plastech IPO News
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Sources
We match Manika Plastech IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- MUFG Intime India Private LimitedOfficial site to check allotment status for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.