Manika Plastech Ltd. made a flat market debut on Monday, opening at Rs 43 on the NSE and BSE. Ahead of the listing, its IPO grey market premium (GMP) was at a marginal Rs 1, or 2.22%, indicating a listing price of Rs 44 per share.
The initial public offer of Manika Plastech Ltd. received 28.14 times subscription on the final day of bidding on Wednesday. The company's IPO received bids for 60,18,61,476 shares against 2,13,86,919 shares on offer, according to data available with the NSE.
The portion for non-institutional investors was subscribed 63.09 times and the category for retail investors received 22.72 times subscription. The quota for Qualified Institutional Buyers (QIBs) was subscribed 10.94 times.
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The IPO has a fresh issue aggregating up to Rs 92.5 crore and an offer for sale of up to 76,74,418 equity shares.
Manika Plastech is a design-led, precision engineered, rigid polymer packaging manufacturing company and caters to diversified critical industries such as energy storage, dairy and edible food products, paints and chemicals.
Pantomath Capital Advisors Pvt Ltd is the book running lead manager to the offer.
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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