The Manika Plastech IPO is expected to finalise its share allotment today after the ₹125.50 crore issue was subscribed 29.5 times overall. According to The Economic Times, investors who subscribed to the IPO can check their allotment status through the registrar's website or NSE/BSE platforms. The company's shares are scheduled to list on both BSE and NSE on September 21, 2026, with the grey market premium currently indicating a potential 5% listing gain ahead of the debut. The IPO opened for subscription on September 11, 2026, and closed on September 16, 2026, with the retail portion subscribed 24 times, NII category at 67 times, and QIB category at 11.22 times.
The Manika Plastech IPO grey market premium has shown stability at 5%, indicating expectations of a potential 5% listing gain for investors. As per The Economic Times, the GMP serves as an unofficial market indicator that can fluctuate before the stock makes its debut. The current premium suggests modest investor expectations ahead of the scheduled listing, with the actual listing price potentially differing from GMP-based estimates due to market conditions and investor demand factors.
The Manika Plastech IPO comprises a fresh issue of ₹92.50 crore through 2.15 crore shares and an offer for sale of 76.74 lakh shares worth ₹33 crore. The company has fixed the IPO price band at ₹40-₹43 per share with a lot size of 348 shares, requiring retail investors to make a minimum investment of ₹14,964 at the upper end of the price band. Pantomath Capital Advisors Pvt. Ltd. serves as the book-running lead manager, while MUFG Intime India Pvt. Ltd. acts as the registrar. Investors can verify their allotment through the registrar's website or NSE/BSE platforms using their PAN, application number, or DP/Client ID.
During the three months ended June 30, 2026, the company served 168–242 customers across 24 states and union territories, with its top 20 customers maintaining an average relationship tenure of over 10 years. The company reported revenue of ₹436 crore for FY26 compared with ₹406.5 crore in the previous year, representing 7.3% growth. Profit rose 15.9% to ₹22.4 crore in FY26 from ₹19.3 crore in FY25. For the quarter ended June 2026, the company reported revenue of ₹162.4 crore and profit of ₹13 crore. The company operates seven facilities with an installed capacity of 29,200 MTPA and specialises in precision-engineered rigid polymer packaging for automotive, energy storage, telecommunications, paints, lubricants, agrochemicals, construction chemicals, food and dairy industries.
According to analysts at Kantilal Chhaganlal Securities, Manika Plastech Limited is suitable for high-risk appetite investors supported by improving profitability, deleveraging, and a diversified product portfolio. The company's shift toward higher-margin thin-wall containers and battery casings has driven sustained margin expansion, with EBITDA margin improving from 8.37% in FY24 to 13.30% in FY26. With a ~39.6% three-year profit CAGR and at the upper band, the issue is valued at P/E 22.4x, which analysts consider reasonable versus listed packaging peers. The company's in-house product development capabilities and 800+ customized moulds create entry barriers and support product customization, though investors should monitor volume growth and margin sustainability.
