Manika Plastech IPO Opens 11 September; Price Band Fixed At ₹40-₹43 Per Share
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Manika Plastech will open its IPO for subscription on 11 September, with the price band fixed at ₹40–₹43 per share. The issue includes a ₹92.5 crore fresh issue and an offer for sale of up to 76.74 lakh shares by VRIDAA Holding Trust.
Mumbai-based rigid polymer packaging manufacturer Manika Plastech has fixed the price band for its upcoming initial public offering at ₹40-₹43 per share.
The issue will open for public subscription on 11 September and close on 16 September. Shares in the company carry a face value of ₹2 each.
The IPO includes a fresh issue through which Manika Plastech plans to raise ₹92.5 crore. There is also an offer for sale (OFS), with promoter entity VRIDAA Holding Trust set to offload up to 76.74 lakh equity shares.
Manika Plastech IPO: Important Dates
The anchor book for institutional investors will open on 10 September for one day.
Share allotment is expected to be finalised by 17 September. The company's shares are likely to make their stock market debut on 21 September, subject to the completion of the IPO process.
Pantomath Capital Advisors is the merchant banker managing the public issue.
How Will The Company Use The Fresh Issue Proceeds?
A major portion of the money raised through the fresh issue has been earmarked for expanding the company's manufacturing capabilities.
Manika Plastech plans to spend ₹54.9 crore on purchasing plant and machinery. Another ₹15 crore has been allocated for repayment of borrowings. The company had an outstanding debt of ₹77.9 crore as of July 2026.
The remaining funds from the fresh issue will be used for general corporate purposes. Money raised through the offer for sale will go to the selling shareholder.
About Manika Plastech
Promoted by the Kapadia family, Manika Plastech makes precision-engineered rigid polymer packaging products for a range of industries.
Its portfolio includes battery casings, pails and containers, automotive components and thin-wall containers. The company manufactures both standard products and customised packaging solutions.
Manika Plastech currently operates seven manufacturing facilities with a combined production capacity of 29,200 metric tonnes per annum (MTPA). Its products are used in applications across sectors such as automotive, paints, agrochemicals, lubricants, food and dairy, and construction chemicals.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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