Manika Plastech IPO
Market Sentiment
The overall score is a weighted average of the parts below, so one weak part can sit inside a strong overall reading.
IPO Details
Day-wise Subscription (times subscribed)
| Category | Day 1 | Day 4 | Day 5 | Final |
|---|---|---|---|---|
| QIB | 0.35x | 0.35x | 0.80x | 11.22x |
| NII | 1.19x | 1.20x | 10.69x | 66.58x |
| bNII > ₹10L | 0.58x | 0.58x | 7.90x | 74.16x |
| sNII 2-10L | 2.42x | 2.44x | 16.27x | 51.42x |
| Retail | 2.12x | 2.18x | 11.45x | 23.98x |
| Total | 1.43x | 1.46x | 8.30x | 29.46x |
Market Lot Size
IPO Reservation
Financial Analysis
Financial Data
Financial Performance
| Metric | 2024 | 2025 | 2026 | June 2026 |
|---|---|---|---|---|
| Revenue | 368.76 | 412.59 | 437.26 | 162.71 |
| Expense | 352.40 | 387.16 | 406.83 | 145.16 |
| Profit (PAT) | 11.53 | 19.33 | 22.40 | 13.07 |
| Total Assets | 252.93 | 320.99 | 323.69 | 317.00 |
Peer Comparison
| Company | EPS | P/E | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Manika Plastech This IPO | 4.49 | 9.58 | 15.18 | 15.54 | - |
| Hitech Corporation Limited | 8.84 | 37.85 | 5.34 | 165.72 | 640.40 Cr |
| Mold-Tek Packaging Limited | 21.93 | 32.34 | 10.56 | 207.64 | 886.61 Cr |
| Shaily Engineering Plastics Limited | 36.97 | 88.85 | 23.71 | 155.95 | 990.67 Cr |
Promoters & Holding Pattern
Promoters: Nikunj Mohanlal Kapadia, Munjal Nikunj Kapadia, Mihir Nikunj Kapadia, Pratik Nikunj Kapadia, Vridaa Holding Trust
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 9,50,00,000 | 100.00% |
| Promoter Holding Post Issue | 8,73,25,582 | 74.95% |
Strengths & Risks
- Heavily oversubscribed — 29.5x overall (final).
- Strong institutional (QIB) demand — 11.2x.
- Strong return on equity — 15%.
- Backed by anchor investors — Rs 38 crore committed pre-issue.
Our data checks haven't flagged a specific concern for Manika Plastech — but that isn't a clean bill of health. Read the risk-factors section of the RHP, which lists company-specific risks our data can't capture.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
About Manika Plastech
Since its incorporation in 1996, Manika Plastech has been involved in the manufacturing of rigid polymer packaging products. Its product range includes the manufacturing of battery casings, pails, and thin-wall containers used in packaging, industrial, and consumer applications. Manika Plastech provides complete polymer packaging solutions, from design, development, sourcing of raw materials, manufacturing, heat sealing, labelling, and delivery. Moreover, the company operates 7 manufacturing facilities situated in Dehradun, Hosur, Panipat, Una, and Dadra, and 1 painting facility located in Hosur. As of June 2026, the company has served 168 to 242 customers across various industries such as automotive, energy storage, telecommunications, paints, lubricants, agrochemicals, construction chemicals, food, and dairy.
Company Contact Information
Gala Number C/22-26, First Tax Free Industrial Estate, Silvassa Khanvel Road, Village Saily, Silvassa Dadra and Nagar Haveli and Daman and Diu
Objects of the Issue
| Purpose | Amount (Cr) |
|---|---|
| Funding the capital expenditure towards purchase of plant and machinery | 59.82 |
| Repayment and/or pre-payment, in part or full, of certain borrowings availed by our Company | 25.00 |
| General Corporate Purposes | - |
Resources & Documents
Anchor Investors
Manika Plastech IPO - Quick Take
Manika Plastech has set a price band of Rs 40–Rs 43 per share for an issue size of Rs 126 crore. The stock listed flat against its issue price.
The issue is promoted by Nikunj Mohanlal Kapadia, Munjal Nikunj Kapadia, Mihir Nikunj Kapadia, Pratik Nikunj Kapadia, Vridaa Holding Trust with Pantomath Capital Advisors Pvt.Ltd. acting as lead manager. Anchor investors have committed Rs 38 crore ahead of the public issue — about 30% of the total issue size. Anchor allocation was completed on August 10, 2026. Net proceeds will primarily be used towards funding the capital expenditure towards purchase of plant and machinery (Rs 60 crore) and repayment and/or pre-payment, in part or full, of certain borrowings availed by our Company (Rs 25 crore).
At the upper end of the price band, the issue is priced at a post-issue P/E of 9.58x. On fundamentals, the company is posting revenue growth of 6.0%, a profit margin of 5.1%, return on equity of 15.2% in its most recent reported period. Listed peers in this segment include Hitech Corporation Limited (P/E 37.85x) and Mold-Tek Packaging Limited (P/E 32.34x) — useful reference points when evaluating the issue's pricing relative to where the broader sector is trading.
On our data-signal score, the combined signals for this issue currently read strong — the composite picture tilts positive, though not without some caveats. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Frequently Asked Questions
Manika Plastech IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed. Its last GMP before listing was 4.7%. Of the 35 Mainboard IPOs we have tracked with a final GMP under 10%, 22 listed above, 6 flat and 7 below the issue price; Manika Plastech listed flat.
See the full Manika Plastech GMP history and trend, or learn how grey market premium works and how reliable it is.
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