Manika Plastech IPO To Open On September 11; Price Band Set At ₹40-43, Issue Size ₹125.5 Crore
· Free Press Journal
New Delhi, September 7, 2026: Plastic products manufacturer Manika Plastech Ltd is set to launch its Initial Public Offering (IPO) on September 11 to raise Rs 125.5 crore from investors.
The price band has been fixed at Rs 40-43 per share, valuing the company at around Rs 501 crore at the higher end.
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IPO Structure And Valuation
The public issue comprises a fresh issue of Rs 92.5 crore and an Offer For Sale (OFS) of 76.74 lakh shares aggregating Rs 33 crore at the higher end.
This takes the total issue size to Rs 125.5 crore.
Use Of IPO Proceeds
The company proposes to utilise the net proceeds from the issue for the purchase of plant and machinery; repayment and/or pre-payment, in part or full, of certain borrowings; and general corporate purposes.
The IPO will close for subscription on September 16 and the bidding for anchor investors will conclude on September 10, according to a public announcement.
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The shares are proposed to be listed on both BSE and NSE on September 21.
Pantmoth Capital Advisors is the book-running lead manager to the issue, while MUFG Intime India is the registrar.
(Disclaimer: Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)