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Manika Plastech IPO
Price Band
₹40.0–43.0
Issue Size
₹125.5 Cr
Lot Size
348 shares
Min Investment
₹14,964
GMP
+₹1.0 (2.33%)
Issue Price
₹43.0
Subject to Sauda
₹300
Paid only if allotted
Manika Plastech IPO AI Summary
- Manika Plastech IPO is listed on BSE, NSE in the Packaging sector.
- Price band: ₹40.0–₹43.0 per share, lot size 348 shares (min. investment ₹14,964).
- Subscription window: 11 Sep–16 Sep 2026, listing on 21 Sep 2026.
- Current GMP is +₹1.0 (2.33%), an estimated listing price of ₹44 — unofficial and can change daily.
Manika Plastech Limited is set to offer its shares through an IPO with a price band of ₹40.0 to ₹43.0. The company is focused on specialized packaging solutions and has shown growth in its financials. The IPO has received strong interest from various investor categories, indicating positive market sentiment.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Manika Plastech IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 16 Sep 2026 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Overall Subscription
29.46x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
11.22x
|
11x ✓ |
| NII (HNI) |
66.58x
|
67x ✓ |
| ↳ bNII (>₹10L) |
74.16x
|
74x ✓ |
| ↳ sNII (<₹10L) |
51.42x
|
51x ✓ |
| Retail (RII) |
23.98x
|
24x ✓ |
| Total | 29.46x | 29.46x |
Auto-updated every 5 min · As of 16th Sep 2026 18:56
Manika Plastech IPO Grey Market Premium (GMP) Today
GMP
+₹1.0
GMP %
+2.33%
Est. Listing
₹44.0
Updated: 21 Sep 2026 06:15
GMP Trend (Last 15 Days)
About the Company
Manika Plastech Limited is an Indian company engaged in the manufacturing of specialized polymer-based packaging solutions. The company primarily produces multilayer barrier films and containers, which are widely used in industries such as food and beverages, pharmaceuticals, personal care, agrochemicals, and lubricants. These packaging solutions are designed to enhance product shelf life, maintain quality, and provide protection from moisture, oxygen, and other environmental factors. Manika Plastech is known for using advanced co-extrusion technology to manufacture high-barrier multilayer containers and films. It serves both domestic and international markets and has built long-term partnerships with major clients by offering customized, reliable, and innovative packaging products. The company emphasizes sustainability, efficiency, and adherence to global quality standards in its manufacturing processes. Currently, it has seven operating facilities in Dehradun, Hosur, Panipat, Una and Dadra across 51,000 square meters with an installed capacity of 27,600 MTPA. Also, the company has five warehouses in Hosur, Dehradun, Jodhpur and Katni. Competitive strengths Proximity to key customers locations with operational flexibility Entry Barriers for Competitors and Retention Drivers/Exit Barriers for customers Integrated value-added services through in-house design, development, and labelling capabilities Diverse industry applications / customer base / suppliers / location / product portfolio Longstanding relationships with well-known customers and well-established supply chain Integrated quality assurance infrastructure
Company Financials (₹ Cr)
As of 2026-06-30
| Period Ended | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 317.00 | 323.69 | 320.99 | 252.93 |
| Total Income | 162.71 | 437.26 | 412.59 | 368.76 |
| Profit After Tax | 13.07 | 22.40 | 19.33 | 11.53 |
| EBITDA | 24.38 | 58.14 | 45.30 | 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 |
Key Ratios
EPS
₹2.36
NAV
₹15.54
ROE
15.18%
ROCE
18.77%
RoNW
15.18%
P/B Value
2.77
P/E Ratio
18.22
Market Cap
₹501.00 Cr
PAT Margin
5.12%
Debt/Equity
0.60
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Shaily Engineering Plastics | 155.95 | 23.71% | 88.85 | 36.97 | 36.83 |
| Mold-Tek Packaging | 207.64 | 10.56% | 32.34 | 21.93 | 21.93 |
| Hitech Corporation | 165.72 | 5.34% | 37.85 | 8.84 | 8.84 |
| Manika Plastech This IPO | 15.54 | 15.18% | — | 2.36 | 2.36 |
Promoters
Nikunj Mohanlal Kapadia, Munjal Nikunj Kapadia, Mihir Nikunj Kapadia, Pratik Nikunj Kapadia, Vridaa Holding Trust
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding the capital expenditure towards purchase of plant and machinery 54.93 2 Repayment and/or pre-payment, in part or full, of certain borrowings availed by Company 15.00 3 General Corporate Purposes 11.71 4 Offer Expense 14.72 Total 96.36
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹368.76 Cr in the period ending 31 Mar 2024, increasing to ₹412.59 Cr by 31 Mar 2025, and further rising to ₹437.26 Cr by 31 Mar 2026. However, the most recent figure of ₹162.71 Cr for the period ending 30 Jun 2026 is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax was ₹11.53 Cr in the period ending 31 Mar 2024, which grew to ₹19.33 Cr by 31 Mar 2025, and further increased to ₹22.40 Cr by 31 Mar 2026. The latest figure for the period ending 30 Jun 2026 is ₹13.07 Cr, which is also a 9-month figure, not a full year, so isn't directly comparable.
Valuation
Manika Plastech has an EPS of ₹2.36. At the issue price of ₹43.0, this implies a P/E ratio of approximately 18.22. This is lower than peers such as Mold-Tek Packaging, which has a P/E of 32.34, and Hitech Corporation at 37.85.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected premium at which shares are likely to trade on the stock exchange compared to the issue price. A positive GMP suggests that the market sentiment is favorable towards the IPO, while a negative GMP may indicate the opposite.
Subscription Demand
As of 16th September 2026, the IPO was subscribed 29.46 times overall. The QIB category saw a subscription of 11.22 times, while the NII category was heavily oversubscribed at 66.58 times. Retail investors subscribed 23.98 times.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their risk tolerance and investment goals. It's important to consider the company's fundamentals and market conditions.
Who May Want to Wait
Investors with a low-risk appetite or those seeking guaranteed returns may want to avoid IPOs, as they can be subject to significant price fluctuations and market uncertainties.
IPO Timeline, Explained
The IPO process involves several key dates: the opening date for subscription is 11th September 2026, closing on 16th September 2026. Allotment of shares will be done on 17th September 2026, with the listing date set for 21st September 2026.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when shares are listed on the stock exchange at a price higher than the issue price. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and overall demand for the stock.
This evaluation is generated from Manika Plastech's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Manika Plastech IPO GMP today?
Manika Plastech IPO GMP today is +₹1.0 (2.33%), indicating an estimated listing price of ₹44. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Manika Plastech IPO?
The price band of Manika Plastech IPO is ₹40.0–₹43.0 per share.
When does Manika Plastech IPO open and close?
Manika Plastech IPO opens on 11 September 2026 and closes on 16 September 2026.
When does Manika Plastech IPO list on the stock exchange?
Manika Plastech IPO listed on 21 September 2026 at ₹44.0.
What is the lot size for Manika Plastech IPO?
The lot size for Manika Plastech IPO is 348 shares, requiring a minimum investment of ₹14,964.
What is the lot size for the Manika Plastech IPO?
The lot size for the Manika Plastech IPO is 348 shares.
What is the minimum investment required for this IPO?
The minimum investment required is ₹14,964.
What is the price band for the Manika Plastech IPO?
The price band for the IPO is between ₹40.0 and ₹43.0.
When is the listing date for the Manika Plastech shares?
The listing date is set for 21st September 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium at which shares may trade on the stock exchange compared to the issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
11 Sep 2026
Close
16 Sep 2026
Allotment
17 Sep 2026
Listing
21 Sep 2026
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