Archive · 21 Sep 2026
Manika Plastech Shares Slide After Flat IPO Market Debut
Manika Plastech sold shares to the public through an IPO.
Many investors wanted to buy the shares, so the IPO was subscribed more than 28 times.
However, the shares did not rise when trading began.
They opened at ₹43, which was the highest IPO price.
Soon afterward, the shares fell by about 5%.
This means investors did not receive an immediate profit from the listing.
The company makes strong plastic packaging for several industries.
Investors may now watch its business performance and future growth.
Manika Plastech shares opened at ₹43 on both BSE and NSE, matching the IPO’s upper price band.
The stock later fell nearly 5% to ₹40.86 on BSE and ₹40.85 on NSE.
The company’s ₹125.49-crore IPO was subscribed 28.14 times on the final bidding day.
The IPO included a fresh issue of up to ₹92.50 crore and an offer for sale of 76,74,418 shares.
Manika Plastech makes rigid polymer packaging for industries including energy storage, dairy, food, paints and chemicals.
- Who
- Manika Plastech, a rigid polymer packaging manufacturer, and investors in its IPO.
- What
- Manika Plastech shares made a flat market debut before falling nearly 5%.
- When
- Monday; the article does not provide a specific date.
- Where
- The shares began trading on the BSE and NSE; the report is from Mumbai.
- Why
- Selling pressure emerged after listing despite the IPO receiving strong demand, with 28.14-times subscription.
- IPO size
- ₹125.49 crore
- IPO price band
- ₹40–₹43 per equity share
- Opening price
- ₹43 on both BSE and NSE
- Post-listing decline
- 4.97% on BSE and 5% on NSE
- Final subscription
- 28.14 times
- Market capitalisation after listing
- Approximately ₹476.07 crore
- Business
- Design-led rigid polymer packaging manufacturing