Manika Plastech IPO opens on Sept 11; check price band, issue size, GMP and other key details
The IPO of Mumbai-based Manika Plastech will open for subscription on 11 September and close on 16 September.
- Sep 7, 2026,
- Updated Sep 7, 2026 12:49 PM IST
Mumbai-based plastic products manufacturer Manika Plastech has fixed the price band for its initial public offering at Rs 40 to Rs 43 per share. The shares have a face value of Rs 2, and the public issue will open for subscription on 11 September and close on 16 September.
The IPO comprises a fresh issue of equity shares worth Rs 92.5 crore and an offer for sale of up to 76.74 lakh shares by promoter entity VRIDAA Holding Trust. The company said Rs 54.9 crore from the net proceeds of the fresh issue will be used to buy plant and machinery, while Rs 15 crore will go towards debt repayment. The remaining amount will be used for general corporate purposes.
The anchor bidding window for institutional investors will open for one day on 10 September. Manika Plastech is expected to finalise the share allotment by 17 September, and its equity shares are likely to be listed on the stock exchanges from 21 September. Pantomath Capital Advisors has been appointed as the merchant banker for the issue.
Promoted by the Kapadia family, Manika Plastech is a design-focused and precision-engineered rigid polymer packaging company. It makes standard and customised products such as battery casings, pails and containers, automotive components, and thin-wall containers. The company has seven manufacturing facilities with a combined production capacity of 29,200 MTPA, serving industries including vehicle batteries, inverters, paints, agrochemicals, lubricants, food and dairy, and construction chemicals.
For the quarter ended June 2026, the company posted a profit of Rs 13 crore on revenue of Rs 162.4 crore. In FY26, its profit rose 15.9 per cent year-on-year to Rs 22.4 crore, while revenue from operations increased 7.3 per cent to Rs 436 crore. As of July 2026, Manika Plastech had total outstanding borrowings of Rs 77.9 crore.
Mumbai-based plastic products manufacturer Manika Plastech has fixed the price band for its initial public offering at Rs 40 to Rs 43 per share. The shares have a face value of Rs 2, and the public issue will open for subscription on 11 September and close on 16 September.
The IPO comprises a fresh issue of equity shares worth Rs 92.5 crore and an offer for sale of up to 76.74 lakh shares by promoter entity VRIDAA Holding Trust. The company said Rs 54.9 crore from the net proceeds of the fresh issue will be used to buy plant and machinery, while Rs 15 crore will go towards debt repayment. The remaining amount will be used for general corporate purposes.
The anchor bidding window for institutional investors will open for one day on 10 September. Manika Plastech is expected to finalise the share allotment by 17 September, and its equity shares are likely to be listed on the stock exchanges from 21 September. Pantomath Capital Advisors has been appointed as the merchant banker for the issue.
Promoted by the Kapadia family, Manika Plastech is a design-focused and precision-engineered rigid polymer packaging company. It makes standard and customised products such as battery casings, pails and containers, automotive components, and thin-wall containers. The company has seven manufacturing facilities with a combined production capacity of 29,200 MTPA, serving industries including vehicle batteries, inverters, paints, agrochemicals, lubricants, food and dairy, and construction chemicals.
For the quarter ended June 2026, the company posted a profit of Rs 13 crore on revenue of Rs 162.4 crore. In FY26, its profit rose 15.9 per cent year-on-year to Rs 22.4 crore, while revenue from operations increased 7.3 per cent to Rs 436 crore. As of July 2026, Manika Plastech had total outstanding borrowings of Rs 77.9 crore.