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Manilam Industries IPO
Price Band
₹65.0–69.0
Issue Size
₹39.95 Cr
Lot Size
2,000 shares
Min Investment
₹276,000
2 LOTS MIN
GMP
—
Issue Price
₹69.0
Manilam Industries IPO AI Summary
- Manilam Industries IPO is listed on NSE SME in the Plywood Boards/ Laminates sector.
- Price band: ₹65.0–₹69.0 per share, lot size 2,000 shares (min. investment ₹276,000, 2 lots minimum).
- Subscription window: 20 Feb–24 Feb 2026, listing on 27 Feb 2026.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Manilam Industries IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
About the Company
Incorporated in 2015, Manilam Industries India Limited is engaged in the manufacturing and sale of Decorative Laminates and Plywood. The company has developed and launched several laminate collections, including the Artistica Collection, the Vogue Collection, the Dwar Collection, and the Magnificent Collection. In response to market demand and distributor feedback, additional collections such as Chromatic Tales, Flute, ECP, Wood & Veneer, and Wall Cladding have also been introduced. These collections cater to both residential and commercial applications, providing a wide range of designs and finishes. In addition to laminates, the company is involved in the trading of plywood in different grades and sizes, primarily serving industrial and commercial sectors. The company’s manufacturing plant is located at Village Manda, Bhojipura Nainital Road, Bareilly, Uttar Pradesh, covering an area of 20,650 square meters. It operates on a business-to-business (B2B) model, with distributors—both large and small—placing orders directly with the manufacturing plant. To enhance customer engagement, Manilam Industries India Limited has established Experience Centres in major cities including Bangalore, Delhi, and Chennai. In Bangalore and Chennai, the company follows an integrated setup combining Service Depots with Experience Centres, offering display, stock, dispatch, and customer interaction from a single location. This setup enables customers to view products, receive expert guidance on colour and design combinations, and fulfil orders efficiently. As of the date of the Draft Red Herring Prospectus, the company employed a total of 149 individuals, including workers on third-party contracts.
Company Financials (₹ Cr)
As of 2025-09-30
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 159.99 | 158.98 | 149.56 | 133.55 |
| Total Income | 60.53 | 142.16 | 138.04 | 148.82 |
| Profit After Tax | 3.16 | 7.38 | 3.10 | 1.53 |
| EBITDA | 8.67 | 17.75 | 14.18 | 9.12 |
| NET Worth | 43.08 | 33.87 | 26.38 | 23.24 |
| Reserves and Surplus | 25.93 | 31.57 | 24.08 | 20.94 |
| Total Borrowing | 58.05 | 62.44 | 73.49 | 60.75 |
Key Ratios
EPS
₹4.30
NAV
₹147.27
ROE
24.80%
ROCE
36.68%
RoNW
24.80%
P/B Value
0.47
P/E Ratio
16.04
Market Cap
₹150.75 Cr
PAT Margin
5.33%
Promoters
Manilam Retail India Pvt.Ltd., Umesh Kumar Nemani, Manoj Kumar Agrawal and Aman Kumar Nemani
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 Capital Expenditure-Purchase of equipment/machineries 1.25 2 Capital Expenditure-Purchase and installation of Solar Panel at the Manufacturing Plant 2.20 3 Repayment in full or in part, of certain loans availed by the Company 3.50 4 Working Capital Requirements of the Company 16.65 5 Expenses for General Corporate Purposes 4.82 6 Issue Expenses 4.00 Total 32.42
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹148.82 Cr in the year ending 31 Mar 2023, slightly declining to ₹138.04 Cr by 31 Mar 2024, and then increasing to ₹142.16 Cr by 31 Mar 2025. However, by the latest period ending 30 Sep 2025, total income dropped to ₹60.53 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax was ₹1.53 Cr for the year ending 31 Mar 2023, rising to ₹3.10 Cr by 31 Mar 2024. This further increased to ₹7.38 Cr in the year ending 31 Mar 2025, but then fell to ₹3.16 Cr by 30 Sep 2025, which is also a 9-month figure and not directly comparable to full fiscal years.
Grey Market Premium, Explained
The Grey Market Premium (GMP) refers to the unofficial trading of shares before they are listed on the stock exchange. It gives an indication of the expected listing price based on demand and supply dynamics in the grey market. A positive GMP suggests that the shares may list at a higher price than the issue price, while a negative GMP indicates the opposite.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy and market conditions. It's important to consider the company's fundamentals, market position, and growth prospects.
Who May Want to Wait
Investors who prefer stable and established companies with predictable returns may want to avoid IPOs like this, which can be subject to market fluctuations and uncertainties. Those with a low risk tolerance might find this investment unsuitable.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when shares are listed on the stock exchange and traded for the first time. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and the company's performance. It is important to be aware that shares may also decline in value after listing.
This evaluation is generated from Manilam Industries'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 the price band of Manilam Industries IPO?
The price band of Manilam Industries IPO is ₹65.0–₹69.0 per share.
When does Manilam Industries IPO open and close?
Manilam Industries IPO opens on 20 February 2026 and closes on 24 February 2026.
When does Manilam Industries IPO list on the stock exchange?
Manilam Industries IPO listed on 27 February 2026 at ₹69.0.
What is the lot size for Manilam Industries IPO?
The lot size for Manilam Industries IPO is 2000 shares, requiring a minimum investment of ₹276,000 (2 lots).
What is the price band for the IPO?
The price band for the IPO is ₹65.0 to ₹69.0.
What is the minimum investment required?
The minimum investment required is ₹276,000.
What is the lot size for the IPO?
The lot size for the IPO is 2000 shares.
When is the IPO open for subscription?
The IPO is open for subscription from 20 February 2026 to 24 February 2026.
When is the listing date for the IPO?
The listing date for the IPO is 27 February 2026.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
20 Feb 2026
Close
24 Feb 2026
Allotment
25 Feb 2026
Listing
27 Feb 2026
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