Manilam Industries IPO

Listed SME
Open Feb 20
Close Feb 24
Allotment Feb 25
Refund Feb 26
Listing Feb 27

Market Sentiment

Grey Market Premium What is GMP?
+Rs 0
+0.0%
Est. Listing: Rs 69
Updated: Feb 26, 2026 12:00 am
View Full GMP History →
Subscription Status
QIB
2.24x
bNII (>10L)
14.69x
sNII (2-10L)
9.14x
Retail
5.88x
Total
6.33x
Updated: Mar 02, 2026 10:46 pm IST
Analysis Score 36 / 100
Avoid
Data: 80%
GMP Score 40
Subscription Score 25
Financial Health 51

Market Lot Size

Category Lots Shares Amount (₹)
Retail Minimum 2 4,000 ₹2,76,000
Retail Maximum 2 4,000 ₹2,76,000
S-HNI Minimum 3 6,000 ₹4,14,000
S-HNI Maximum 7 14,000 ₹9,66,000
B-HNI Minimum 8 16,000 ₹11,04,000

IPO Details

Issue Price₹65-69 per equity share
Face Value₹10 Per Equity Share
Lot Size 4000 shares (Min ₹2,76,000)
Total Issue Size ₹40.00 crore
Fresh Share₹32.42 crore
Offer For Sale₹7.58 crore
Issue TypeBook build Issue
Lead ManagerNEXGEN Financial Solutions Pvt. Ltd.
RegistrarMAS Services Ltd.
Listing atNSE
NSE SymbolMANILAM
ISININE1ERK01013
Listing Price₹55.20
Listing Gain-20.00%

IPO Reservation

Category Shares Offered
QIB11,04,000
NII (HNI)8,28,000
bNII > ₹10L5,52,000
sNII < ₹10L2,76,000
Retail19,28,000
Anchor16,38,000

Financial Analysis

Financial Data
ROE
24.46%
ROCE
34.58%
Debt/Equity
1.84
NAV/Share
Rs 147.27
Revenue Growth
2.98%
Profit Margin
5.19%
Financial Performance
Metric 2023 2024 2025 Sep 2025
Revenue 148.82 138.04 142.16 60.53
Expense 146.64 133.61 131.71 56.13
Profit (PAT) 1.53 3.10 7.38 3.16
Total Assets 133.55 149.56 158.98 159.99
Values in Crores (₹)
Peer Comparison
Company P/E EPS Market Cap (Cr)
Archidply Industries Ltd 52.41 1.62 3
Rushil Decor Limited - -0.31 -1
Promoters & Holding Pattern

Promoters: Manilam Retail India Private Limited, Mr. Umesh Kumar Nemani, Mr. Manoj Kumar Agrawal and Mr. Aman Kumar Nemani

Shareholding No. of Shares Holding %
Promoter Holding Pre Issue 1,71,50,000 78.79%
Promoter Holding Post Issue 2,18,48,000 61.85%

Company Information

About Manilam Industries

Manilam Industries India, founded in 2015, is one of the leading companies engaged in the manufacturing and sale of Decorative Laminates and Plywood. Its product laminates include Artistica, Vogue, Dwar, Magnificent, Chromatic Tales, Flute, ECP, Wood & Veneer, and Wall Cladding. Along with laminates, the firm is also involved in the trading of plywood in different sizes and grades. Its product mainly serves the industrial and commercial sectors. Moreover, its manufacturing facility is situated in Manda, Bhojipura Nainital Road, Bareilly, Uttar Pradesh, covering 20,650 sq meters of area. It runs its business in a B2B model, involving distributors placing orders directly from the manufacturing unit. Moreover, the firm also built experience centers in major citites like cities like Bangalore, Delhi, and Chennai. Allowing customers to decide the color, size, designs, and of the products.

Objects of the Issue
Purpose Amount (Cr)
A. Capital Expenditure – Purchase of equipment/machinery of the Company. B. Capital Expenditure – Purchase and installation of Solar Panel Panels at the manufacturing plant. 1.25
Repayment in full or in part, of certain loans availed by the Company 2.20
Working Capital Requirements of the Company 3.50
General Corporate Purpose 16.65

Resources & Documents

Anchor Investors
Anchor Bidding Date
February 19, 2026
Shares Offered to Anchors
16,38,000
Lock-in End (30 Days, 50%)
March 27, 2026
Lock-in End (90 Days, 50%)
May 26, 2026
Company Contact Information

Manilam Industries India Ltd., 46, B. B. Ganguly Street, 5th Floor, Room No. 9, Kolkata, West Bengal, 700012

Frequently Asked Questions

Manilam Industries IPO is SME IPO. The company is going to raise ₹40 Crores via IPO. The issue is priced at ₹65 to ₹69 per equity share. The IPO is to be listed on NSE.

The IPO is to open on February 20, 2026 for QIB, NII, and Retail Investors. The IPO will close on February 24, 2026.

The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.

You can apply for Manilam Industries IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form.

Manilam Industries IPO issue size is ₹40 crores.

Manilam Industries IPO Price Band is ₹65 to ₹69.

The minimum bid is 4,000 Shares with ₹2,76,000 amount.

Manilam Industries IPO allotment date is February 25, 2026.

Manilam Industries IPO listing date is February 27, 2026. The IPO is to list on NSE.

Understanding Grey Market Premium (GMP)

The Grey Market Premium (GMP) is an unofficial indicator of how an IPO's shares are trading in the grey market before they are officially listed on a stock exchange. It reflects investor sentiment and demand for the IPO shares ahead of listing day.

How does it work? The grey market is an informal, over-the-counter market where investors buy and sell IPO shares before the official listing date. If an IPO has a positive GMP, it suggests that investors expect the stock to list above its issue price. A negative GMP indicates expectations of a listing below the issue price.

Example: If an IPO has an issue price of ₹100 and the GMP is ₹50, the expected listing price would be approximately ₹150 (issue price + GMP). This translates to an estimated listing gain of 50%.

Factors that influence GMP:

  • Subscription levels — Higher subscription typically drives GMP up
  • Market conditions — Bullish markets tend to boost GMP across all IPOs
  • Company fundamentals — Strong financials and growth potential attract premium
  • Industry sentiment — Positive outlook for the sector can increase demand
  • IPO pricing — Reasonably priced IPOs relative to peers tend to command higher GMP

Disclaimer: GMP is an unofficial metric from the grey market and is not regulated by SEBI or any stock exchange. GMP values fluctuate frequently and should not be the sole basis for investment decisions. Always consider company fundamentals, financial health, and your own risk appetite before investing in any IPO.

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