Manika Plastech IPO 2026: Date, Price Band, GMP and Details

Dates, price band, lot size, financials and full details of the Manika Plastech Limited IPO, sourced from the company's Red Herring Prospectus (RHP).

Manika Plastech IPO at a glance

Manika Plastech Limited is bringing a Book Built Mainboard IPO worth ₹125.50 crore. It is a mix of a fresh issue of shares worth ₹92.50 crore and an Offer for Sale (OFS) worth ₹33.00 crore. The IPO is open from 11 September to 16 September 2026 and is proposed to list on the BSE and the NSE.

Manika Plastech IPO Details

Manika Plastech IPO Timelines

Dates are tentative and may change.

Manika Plastech IPO GMP

GMP stands for Grey Market Premium. It is the extra amount some traders are willing to pay for IPO shares in an informal market before listing, on top of the issue price. This market runs outside the stock exchanges, so the figure is unregulated, unverified, and can move sharply within a single day. A high GMP does not confirm a listing gain, and a low one does not rule it out, because it tracks short-term sentiment rather than the worth of the business. A steadier read on the IPO comes from the company's financials, how it plans to use the money, its valuation, and the risk factors set out in the Red Herring Prospectus (RHP).

About Manika Plastech Limited

Incorporated in 1996, Manika Plastech Limited is a design-led, precision-engineered rigid polymer (plastic) packaging manufacturer based in Silvassa, Dadra and Nagar Haveli. It designs and manufactures products such as battery casings, pails, and thin-wall containers for industries including energy storage and vehicle batteries, paints, lubricants, agrochemicals, food and dairy, and construction chemicals. Battery casings are its largest revenue contributor, at 56.54% of revenue from operations in FY 2026.

Its products are designed and developed in-house, with 30 designs registered as intellectual property under the Designs Act. As of the date of the RHP, it operates seven operating facilities across Silvassa, Dehradun, Hosur, Una, and Panipat, comprising six manufacturing facilities and one painting facility in Hosur, with an aggregate installed capacity of 29,200 MTPA (metric tonnes per annum). In FY 2026, it served 242 customers.

The company's promoters are Nikunj Mohanlal Kapadia, Munjal Nikunj Kapadia, Mihir Nikunj Kapadia, Pratik Nikunj Kapadia, and the VRIDAA Holding Trust.

What are the Key Strengths of Manika Plastech (as stated in the RHP)

• Proximity to key customer locations, with operational flexibility that enables customer retention.
• Entry barriers for competitors and retention drivers for customers.
• Integrated value-added services through in-house design, development, and labelling capabilities.
• De-risked business model with diverse industry applications, customer base, suppliers, locations, and products.
• Longstanding relationships with well-known customers and a well-established supply chain.
• Integrated quality assurance infrastructure.
• Commitment to sustainable packaging and adherence to Environmental, Social, and Governance (ESG) standards.
• Experienced promoters and management team with domain knowledge.

What the Money Will Be Used For

The IPO is a fresh issue of ₹92.50 crore and an Offer for Sale (OFS) of ₹33.00 crore. The OFS money goes to the selling shareholder, VRIDAA Holding Trust. The company will use the money from the fresh issue for the following:

What are the Company Financials of Manika Plastech

Restated consolidated figures, in ₹ crore.

2-Yr Compound Annual Growth Rate (CAGR) is calculated from FY 2024 to FY 2026.

Who Can Apply

The offer is split across investor categories as follows:

How to Apply for the Manika Plastech IPO

You can apply online through your broker app or through your bank's net banking using the Application Supported by Blocked Amount (ASBA) facility.

1. Log in to your broker app or your bank's net banking.
2. Open the IPO section and select Manika Plastech IPO.
3. Enter the number of lots and your bid price, or select the cut-off price.
4. Enter your Unified Payments Interface (UPI) ID, or confirm your bank account for the ASBA route.
5. Submit the application form.
6. Approve the mandate request in your UPI app to block the funds until allotment.

How to Check Allotment Status

The basis of allotment is expected to be finalised on 17 September 2026. Once it is out, you can check your allotment status in three ways. You will need your PAN, application number, or DP/Client ID.

• On the registrar's website, MUFG Intime India, at the public issues page.
• On the BSE or NSE website under the IPO allotment section.
• Inside your broker app, under orders or IPO history.

Key Risk Factors

The RHP lists several risk factors. A few of the key ones are summarised below. Please read the full RHP for the complete list.

• Revenue is concentrated among its top customers; its top five customers contributed 62.95% of revenue from operations in FY 2026.
• A significant portion of revenue is derived from battery casings, which contributed 56.54% of revenue from operations in FY 2026.
• Its subsidiary, Manika Automotive Private Limited, has incurred losses and negative cash flows in the past.
• The company does not own certain premises used in its business.
• Only a few of its key customer relationships are backed by long-term supply agreements.
• A downgrade in its credit rating could affect its ability to raise capital in the future.
• Certain of its corporate records and filings are not traceable or have discrepancies.
• Some of its individual promoters have extended personal guarantees for the company's loan facilities.
• It receives benefits under certain government schemes, which may not continue.
• It has in the past entered into related party transactions and may continue to do so.

Frequently Asked Questions (FAQs)

1. When does the Manika Plastech IPO open and close?

The IPO opens on 11 September 2026 and closes on 16 September 2026.

2. What is the price band of the IPO?

The price band is ₹40 to ₹43 per share.

3. What is the lot size?

One lot is 348 shares. Applications are made in multiples of 348 shares.

4. What is the minimum investment for retail investors?

The minimum investment is ₹14,964 at the upper price band (1 lot of 348 shares).

5. When is the allotment date?

The allotment is expected to be finalised on 17 September 2026, with shares credited to demat accounts by 18 September 2026.

6. When is the listing date?

The shares are proposed to be listed on the BSE and the NSE on 21 September 2026 (tentative).

7. What does Manika Plastech do?

It is a design-led, precision-engineered rigid polymer (plastic) packaging manufacturer, making products such as battery casings, pails, and thin-wall containers for industries including energy storage, paints, chemicals, and food.

8. What is the GMP of the Manika Plastech IPO?

GMP, or Grey Market Premium, is an informal pre-listing price that sits outside the stock exchanges and is neither regulated nor verified. It shifts with day-to-day sentiment and does not confirm how the shares will list. A more reliable picture comes from the company's financials, valuation, and the risks in the RHP.

9. Who is the registrar for the IPO?

MUFG Intime India Private Limited is the registrar. Allotment status can be checked on its website.

Read the full Red Herring Prospectus (RHP): View the official RHP filed with SEBI and the exchanges.

Disclaimer: This page is for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any securities. All figures are sourced from the company's Red Herring Prospectus and public filings and may change. Investments in securities are subject to market risks. Please read all offer documents carefully and consult a registered financial advisor before making any investment decision.