Summary of this article
Manika Plastech shares debuted with a decent listing premium.
The public issue was heavily oversubscribed by twenty-eight times.
Proceeds will fund capital expenditure and repay outstanding borrowings.
Shares of Manika Plastech made their debut in the stock market on September 21, 2026, with no premium over the upper end of the price band as the stock listed at Rs 43 apiece on the NSE and BSE.
Applicants who were successfully allotted a minimum of one lot or 348 shares of Manika Plastech would have made no gains as the stock listed at the issue price.
Manika Plastech IPO: Offer Size
The initial public offering (IPO) of Manika Plastech was a book-built issue worth Rs 125.50 crore and consisted of a fresh issue of 21.51 million shares worth Rs 92.50 crore and an offer for sale (OFS) of 7.67 million shares amounting to Rs 33 crore.
The price band for the public issue was fixed at Rs 40-43 per share. The minimum lot size for retail investors was fixed at 348 shares, aggregating to an investment of Rs 14,964.
Manika Plastech IPO: Subscription
The IPO saw strong demand and was oversubscribed 28.14 times during its subscription period from September 11 to September 16. Investors across categories placed bids for 601.89 million shares compared to the total offer size of 21.38 million shares available.
Non-institutional investors (NIIs) booked their quota in the IPO, 63.09 times. In this category, 4.61 million shares were offered, and bids were received for 291.46 million shares.
Retail investors booked their quota 22.72 times, bidding for 244.94 million shares against the 10.77 million shares offered. The qualified institutional buyer (QIB) quota was subscribed 10.94 times, receiving bids for 65.47 million shares against the 5.98 million shares offered.
Manika Plastech: Promoters
The promoters of the company, Nikunj Mohanlal Kapadia, Munjal Nikunj Kapadia, Mihir Nikunj Kapadia, Pratik Nikunj Kapadia, and Vridaa Holding Trust, diluted a portion of their stakes through the OFS. Following the listing of the stock, the promoter shareholding reduced to 74.95 per cent, down from 100 per cent prior to the public issue.
Manika Plastech: Competitors
Manika Plastech operates within the rigid polymer packaging manufacturing market. The company’s listed peers in the domestic market include Hitech Corporation, Mold-Tek Packaging and Shaily Engineering Plastics.
Manika Plastech IPO: Objective
The company will use the proceeds from the fresh issue for funding capital expenditure towards the purchase of plant and machinery, the repayment or pre-payment of certain outstanding borrowings, and will allocate the remaining proceeds for general corporate purposes.
