Manika Plastech IPO Price: ₹40 to ₹43 per share
IPO Dates: 11 TO 16 Sept, 2026
Company Overview
Incorporated in 1996, Manika Plastech Limited is engaged in the manufacturing of rigid polymer packaging products, including battery casings, pails and thinwall containers.
Business Operations
The Company manufactures battery casings, pails and thinwall containers for various industrial and consumer applications. Its pails are used for packaging paints, lubricants and industrial chemicals, while its food-grade thinwall containers are used for the packaging and distribution of dairy and edible food products. Its products are designed to provide structural strength, protection and ease of handling throughout the expected product lifecycle.
Manika Plastech provides end-to-end rigid polymer packaging solutions covering design and development, sourcing of raw materials, manufacturing, heat sealing, labelling, quality assurance and delivery. The Company has capabilities to provide customized packaging products and designs its automotive battery casings in accordance with Japanese and German technical standards, including JIS and DIN standards, to meet customer-specific product specifications and quality requirements.
Product Portfolio
The Company’s product portfolio includes battery casings, pails, thinwall containers and automotive components. Battery casings cater to the automotive and energy storage sectors, while pails are used for packaging paints, lubricants and industrial chemicals. Food-grade thinwall containers are used for packaging and distribution of dairy and edible food products.
Customer Base & Market Presence
The Company serves a diversified customer base across multiple end-user industries, including automotive, energy storage, telecommunications, paints, lubricants, agrochemicals, construction chemicals, food and dairy, among others.
During the three-month period ended June 30, 2026 and the preceding three Fiscals, the Company served 168 to 242 customers across 24 states and union territories in India. Its top 20 customers had an average relationship tenure of over 10 years as of June 30, 2026. Its long operating history of over two decades has enabled it to build relationships across multiple industries and reduce dependence on any particular customer or industry segment.
Manufacturing & Operating Facilities
The Company has 7 operating facilities, comprising 6 manufacturing facilities located in Dehradun, Hosur, Panipat, Una and Dadra, and 1 paint facility located in Hosur. Its manufacturing units produce battery casings, pails, thinwall containers and automotive components, while the painting facility is used for painting automotive components.
Dadra
The Dadra facility manufactures pails and thinwall containers, serving Vadilal Industries Limited and other leading food and dairy product manufacturers.
Dehradun
The Dehradun facility manufactures battery casings for customers including Livguard Energy Technologies Private Limited, Luminous Power Technologies Private Limited, Genus Innovation Limited and HSD Batteries (India) Pvt. Ltd.
Hosur – Manufacturing
The Hosur manufacturing facility produces battery casings, pails, thinwall containers and automotive components for customers such as Luminous Power Technologies Private Limited, Kansai Nerolac Paints Limited, JSW Paints Limited, Sakthi Accumulators Private Limited, Surya Batteries and Zunax Energy Products LLP.
Hosur – Painting
The Hosur painting facility provides painting of automotive components for Ultraviolette Automotive Private Limited, TVS Motor Company Limited and other automotive component and commercial EV manufacturers.
Panipat
The Panipat facility manufactures pails and thinwall containers, with Grasim Industries Limited as a key customer.
Una
The Una facility manufactures battery casings, pails and thinwall containers for customers including Livguard Energy Technologies Private Limited, Luminous Power Technologies Private Limited and Kansai Nerolac Paints Limited.
Workforce
As of July 31, 2026, the Company had an employee base of 352 employees and 809 contract labourers.
Bidding Starts In
Manika Plastech Limited IPO Specifics:
| IPO Date | 11 to 16 Sep, 2026 |
| Listing Date | Mon, Sep 21, 2026T |
| Face Value | ₹2 per share |
| Price Band | ₹40 to ₹43 |
| Lot Size | 348 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,91,86,045 shares (agg. up to ₹125 Cr) |
| Fresh Issue | 2,15,11,627 shares (agg. up to ₹92 Cr) |
| Offer for Sale | 76,74,418 shares of ₹2 (agg. up to ₹33 Cr) |
| Share Holding Pre Issue | 9,50,00,000 shares |
| Share Holding Post Issue | 11,65,11,627 shares |
Manika Plastech IPO Timetable (Important Dates)
| Event | Date |
|---|---|
| IPO Open | Fri, Sep 11, 2026 |
| IPO Close | Wed, Sep 16, 2026 |
| Allotment | Thu, Sep 17, 2026 |
| Refund | Fri, Sep 18, 2026 |
| Credit of Shares | Fri, Sep 18, 2026 |
| Listing | Mon, Sep 21, 2026 |
Manika Plastech Limited IPO Lot Size
Bidders have the opportunity to bid for a minimum of 348 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 348 | ₹14,964 |
| Retail (Max) | 13 | 4,524 | ₹1,94,532 |
| S-HNI (Min) | 14 | 4,872 | ₹2,09,496 |
| S-HNI (Max) | 66 | 22,968 | ₹9,87,624 |
| B-HNI (Min) | 67 | 23,316 | ₹10,02,588 |
Manika Plastech Limited IPO Reservation
| Investor Category | Shares |
|---|---|
| QIB | Not more than 50% of the Offer size |
| Retail | Not less than 35% of the Offer |
| NII | Not less than 15% of the Offer |
Manika Plastech Limited IPO Financial Information
| Particulars (₹ Cr) | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 317.00 | 323.69 | 320.99 | 252.93 |
| Total Income | 162.71 | 437.26 | 412.59 | 368.76 |
| Profit After Tax | 13.07 | 22.40 | 19.33 | 11.53 |
| EBITDA | 24.38 | 58.14 | 45.30 | 30.86 |
| NET Worth | 156.78 | 147.62 | 125.17 | 107.99 |
| Reserves and Surplus | 136.97 | 127.69 | 105.29 | 88.05 |
| Total Borrowing | 92.46 | 88.19 | 97.45 | 93.06 |
Key Performance Indicator- Manika Plastech Limited IPO
| KPI | Jun 30, 2026 | Mar 31, 2026 |
|---|---|---|
| ROE | 8.34% | 15.18% |
| ROCE | 8.34% | 18.77% |
| Debt/Equity | 0.59 | 0.60 |
| RoNW | 8.34% | 15.18% |
| PAT Margin | 8.03% | 5.12% |
| EBITDA Margin | 15.01% | 13.34% |
| NAV | 16.50 | 15.54 |
| Price to Book Value | 2.61 | 2.77 |
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 2.36 | 4.49 |
| P/E (x) | 18.22 | 9.58 |
| Market Cap at Offer Price | ₹409Cr. | ₹501.00 Cr |
Prospectus Links:
Prospectus: Official documents that provide detailed information about the IPO and the company.
Manika Plastech Limited IPO RHP
Manika Plastech Limited IPO DRHP
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