Archive · 7 Sep 2026
Manika Plastech Sets ₹40–43 IPO Band, Targets ₹125.5 Crore
Manika Plastech makes plastic packaging and other polymer products.
It plans to sell shares to the public through an IPO.
Each share will cost between ₹40 and ₹43.
Investors can apply from September 11 to September 16, 2026.
The company wants to raise ₹92.5 crore by issuing new shares.
VRIDAA Holding Trust will also sell up to 76.74 lakh existing shares.
Together, these parts make the IPO worth up to ₹125.5 crore at the highest price.
Most of the new money will be used to buy machinery, while some will repay debt.
The company has seven factories and supplies industries such as automotive, paints, food, and construction chemicals.
Manika Plastech has fixed its IPO price band at ₹40–₹43 per share, with a face value of ₹2.
The IPO will open on September 11 and close on September 16, 2026; anchor bidding is scheduled for September 10.
The issue comprises a ₹92.5 crore fresh share issue and an offer for sale of up to 76.74 lakh shares, taking the total size to ₹125.5 crore at the upper band.
The company will use ₹54.9 crore for plant and machinery, ₹15 crore for debt repayment, and the remaining proceeds for general corporate purposes.
Manika Plastech reported ₹13 crore profit on ₹162.4 crore revenue in the June 2026 quarter, while FY26 profit was ₹22.4 crore on ₹436 crore revenue.
- Who
- Manika Plastech Limited, a Mumbai-based rigid polymer packaging manufacturer promoted by the Kapadia family, is conducting the IPO.
- What
- The company is launching an IPO with a ₹40–₹43 price band, a ₹92.5 crore fresh issue, and an OFS of up to 76.74 lakh shares.
- When
- Subscription is scheduled for September 11–16, 2026; anchor bidding is on September 10, allotment is expected by September 17, and listing is proposed from September 21.
- Where
- Manika Plastech is based in Mumbai, and its shares are proposed to be listed on the BSE and NSE.
- Why
- The fresh-issue proceeds will fund plant and machinery, partial or full repayment of certain borrowings, and general corporate purposes.
- IPO price band
- ₹40–₹43 per share
- Face value
- ₹2 per share
- Total issue size
- ₹125.5 crore at the upper price band
- Fresh issue
- ₹92.5 crore
- Offer for sale
- Up to 76.74 lakh shares by VRIDAA Holding Trust
- Manufacturing capacity
- 29,200 MTPA across seven facilities
- FY26 performance
- ₹22.4 crore profit and ₹436 crore revenue from operations
