Manika Plastech Limited

Manika Plastech Limited (New IPO): GMP, Price, Review, Profit

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Manika Plastech Limited is a design led, precision engineered manufacturer of rigid polymer packaging solutions serving diversified industries including energy storage (battery casings), dairy and edible food products, paints, lubricants and chemicals. Its end‑to‑end offerings cover everything from product design and development to raw material sourcing, manufacturing, heat sealing, labelling, quality assurance and delivery.

It supplies to major industrial customers such as Livguard, Luminous, UNO Minda, JSW & Indigo Paints across India and is among the top players in rigid polymer packaging with diversified industry reach.

Manika Plastech Limited was incorporated in 1996 & currently Mr. Munjal Nikunj Kapadia serves as the Managing Director of the company.

Manika Plastech Limited has filed its DRHP with SEBI for a proposed IPO featuring a Fresh Issue of ₹ 115 Crore and Offer for Sale (OFS) of 15,000,000 Equity Shares.

Subscription date to apply for the IPO is yet to be announced. Price band for the IPO is also pending to be declared.

Check DRHP
Check IPO Allotment
Visit Official Website
Issue Size:₹ 115 Cr + 15,000,000 Equity Shares
Fresh Issue:₹ 115 Cr
Offer for Sale:15,000,000 Equity Shares
Price Range:TBA
Lot Size:TBA
GMPPending

Manika Plastech Limited important data points

Revenue, PAT, EBITDA

YearFiscal 2024
Networth₹ 107.84 Cr
Revenue:₹ 360.77 Cr
EBITDA₹ 30.98 Cr
PAT₹ 11.54 Cr
EBITDA Margin:~8.59%
PAT Margin~ 3.13%
Face Value:₹ 02

IPO important dates

Open Date:TBA
Close Date:TBA
Anchor Investor BiddingTBA
Allotment Date:TBA
Refunds & Demat CreditTBA
Tentative Listing Date:TBA

Use of Proceeds

PurposeAmount
Purchase of plant & machinery₹ 59.82 Cr
Working Capital Requirement₹ 00 Cr
Borrowing prepayment/repayment₹ 25 Cr
General Corporate PurposeBalance

Manika Plastech Limited Financial Data

202220232024
Revenue (₹ Cr)₹ 332.8₹ 396.5₹ 360.8
PAT (₹ Cr)₹ 10.0₹ 11.3₹ 11.5
Asset (₹ Cr)₹ 198.7₹ 217.9₹ 252.2
Net Worth (₹ Cr)₹ 89.8₹ 98.3₹ 107.8

Manika Plastech Limited IPO Grey Market Premium

DateIPO PriceIPO GMPProfit per lot
25-May₹ –₹ –₹ –
24-May₹ –₹ –₹ –
23-May₹ –₹ –₹ –
22-May₹ –₹ –₹ –
21-May₹ –₹ –₹ –
Manika Plastech Limited

Manika Plastech Limited Pro’s and Con’s

Strengths:

  • Strong design‑led, precision polymer packaging business with diversified industry customers.
  • Integrated end‑to‑end manufacturing and quality controls drive custom solutions and customer retention.
  • Established long‑term relationships with reputable clients across energy storage, paints, chemicals, and food sectors.
  • Use of IPO funds to expand manufacturing capacity and repay debt strengthens the balance sheet.
  • Strategic plant locations near customers improve logistics and service responsiveness.

Risks:

  • Significant revenue concentration with top customers; losing any might impact financials.
  • Heavy reliance on battery casing segment demand, which is cyclical.
  • Raw material supply dependence with no long‑term contracts increases procurement risk.
  • Regional revenue concentration mostly to North India posseses a geographical risk.
  • Environmental regulations affecting plastics could pose future headwinds.

Manika Plastech Limited Promoters – Pre offer equity (Approx)

Promoters%Shares
VRIDAA Holding Trust~ 97 %
Nikunj Mohanlal Kapadia~ 0.75 %
Munjal Nikunj Kapadia~ 0.50 %
Mihir Nikunj Kapadia~ 0.50 %
Pratik Nikunj Kapadia~ 0.50 %
––

Manika Plastech Limited Lot Size details

Application TypeLot SizeNo. of LotNo. of SharesInvestment Amount
Retail (Min)–1–₹ –
Retail (Max)–13–₹ –
HNI (Min)–14–₹ –
HNI (Max)–66–₹ –
Big HNI (Min)–67–₹ –

Lead Managers / Registrars of Manika Plastech Limited

Lead / Book Running Lead ManagersPantomath Capital Advisors Private Limited
Registrar (RTA)MUFG Intime India Private Limited

Manika Plastech Limited FAQ’s

  • It is a design led, precision engineered rigid polymer packaging manufacturer for energy storage (battery casings), paints, chemicals, dairy/food and allied industries.
  • Manika Plastech is raising funds via IPO to fund capital expenditure (new plant/machinery), repay debt and support general corporate purposes for future growth.
  • The issue size of the IPO comprises of ₹ 115 Cr as a Fresh Issue + OFS of ~1.50 Cr equity shares. It will be listed on BSE and NSE platforms.
  • Key risks include revenue concentration with top customers and heavy dependence on battery casing demand could impact performance.
  • Upsides include diversified industry demand, registered designs and strong client base suggest long‑term growth potential.
  • Investors can apply for the IPO through ASBA via net banking or using UPI through registered stock brokers once the IPO opens for subscription.

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