Plastic products manufacturer Manika Plastech Ltd. will launch its Initial Public Offering (IPO) on Friday, September 11 to raise Rs 125.5 crore from investors. The price band has been fixed at Rs 40-43 per share, valuing the company at around Rs 501 crore at the higher end.
The public issue comprises a fresh issue of Rs 92.5 crore and an Offer For Sale (OFS) of 76.74 lakh shares aggregating Rs 33 crore at the higher end. This takes the total issue size to Rs 125.5 crore. Pantmoth Capital Advisors is the book-running lead manager to the issue, while MUFG Intime India is the registrar.
The shares are proposed to be listed on both BSE and NSE on September 21.
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Manika Plastech Ltd. IPO Day 1 Subscription Status
The Manika Plastech Ltd. IPO has been booked 100% as of Day 1 at 2:27 pm. The IPO is fully subscribed
- Qualified Institutional Buyers: 0.00 times
- Non Institutional Investors: 0.68 times
- Retail Individual Investors: 1.69 times
- Employee Reserved: 0.00 times
Manika Plastech Ltd. IPO GMP
Manika Plastech IPO last GMP is Rs 10 as of Sept 11, 02:30 pm . With the upper price band of Rs 43.00, Manika Plastech IPO's estimated listing price is Rs 53. The expected percentage gain per share is 23.26%, as per Investorgain.
Manika Plastech Ltd. Financials
The company proposes to utilise the net proceeds from the issue for the purchase of plant and machinery; repayment and/or pre-payment, in part or full, of certain borrowings; and general corporate purposes.
About The Company
Manika Plastech Ltd. is a design-led, precision-engineered rigid polymer packaging manufacturer serving a range of critical industries, including energy storage, dairy and edible food products, paints, and chemicals. The company focuses on application-specific performance, durability, product safety, and operational efficiency through its portfolio of precision-engineered products such as high-performance battery casings, pails, and thin-wall containers for both industrial and consumer applications.
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