Q1. What is the business of Manika Plastech Limited?

It is a design led, precision engineered rigid polymer packaging manufacturer for energy storage (battery casings), paints, chemicals, dairy/food and allied industries.

Q2. Why is the company raising funds via IPO?

Manika Plastech is raising funds via IPO to fund capital expenditure (new plant/machinery), repay debt and support general corporate purposes for future growth.

Q3. What is the size of the issue and where will it list?

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.

Q4. What are the key risks to an investor?

Key risks include revenue concentration with top customers and heavy dependence on battery casing demand could impact performance.

Q5. What are the potential upsides?

Upsides include diversified industry demand, registered designs and strong client base suggest long‑term growth potential.

Q6. How to apply for the IPO?

Investors can apply for the IPO through ASBA via net banking or using UPI through registered stock brokers once the IPO opens for subscription.

Manika Plastech Limited

Upcoming

Manika Plastech Limited

Market Cap

—

IPO Issue Size

₹ 115 Cr + 15,000,000 Equity Shares

Expected Price by IPOCorner

—

IPO Score

*Score varies on actual price

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.

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

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.

Subscription date to apply for Manika Plastech Limited is yet to be announced. Price band for the IPO is yet to be declared.

₹ 115 Cr + 15,000,000 Equity Shares

Fresh Issue

₹ 115 Cr

Offer for Sale

15,000,000 Equity Shares

Year	2025
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	Rs.02 per Equity Share

IPO Important Dates

#	Date
Open Date	TBA
Close Date	TBA
Anchor Investor Bidding	TBA
Allotment Date	TBA
Refunds& Demat Credit	TBA
Tentative Listing Date	TBA

Use Of Proceeds

Purpose	Amount
Purchase of plant & machinery	₹ 59.82 Cr
Repayment/pre‑payment of borrowings	₹ 25 Cr
-	-
-	-
-	-
General Corporate Purpose	Balance

Financial Data

#	2023	2024	2025
Revenue (₹ Cr)	332.82	396.5	360.77
PAT (₹ Cr)	9.96	11.31	11.54
Asset (₹ Cr)	198.67	217.86	252.21
Net Worth (₹ Cr)	89.76	98.26	107.84

IPO Grey Market Premium

Date	IPO Price	IPO GMP	Profit Per Lot
23-Aug	₹ –	₹ –	₹ –
22-Aug	₹ –	₹ –	₹ –
21-Aug	₹ –	₹ –	₹ –
20-Aug	₹ –	₹ –	₹ –
19-Aug	₹ –	₹ –	₹ –

Pros

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.

Cons

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

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 %
-	-

Lot Size details

Application Type	Lot Size	No. of Lot	No. of Shares	Investment Amount
Retail (Min)	–	1	–	₹ –
Retail (Max)	–	13	–	₹ –
HNI (Min)	–	14	–	₹ –
HNI (Max)	–	66	–	₹ –
Big HNI (Min)	–	67	–	₹ –

Key Performance Index (KPI)

ROE	00
ROCE	00
RoNW	00

Lead / Book Running Lead Managers

Pantomath Capital Advisors Private Limited

Registrar (RTA)

MUFG Intime India Private Limited

Q1. What is the business of Manika Plastech Limited?
It is a design led, precision engineered rigid polymer packaging manufacturer for energy storage (battery casings), paints, chemicals, dairy/food and allied industries.
Q2. Why is the company raising funds via IPO?
Manika Plastech is raising funds via IPO to fund capital expenditure (new plant/machinery), repay debt and support general corporate purposes for future growth.
Q3. What is the size of the issue and where will it list?
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.
Q4. What are the key risks to an investor?
Key risks include revenue concentration with top customers and heavy dependence on battery casing demand could impact performance.
Q5. What are the potential upsides?
Upsides include diversified industry demand, registered designs and strong client base suggest long‑term growth potential.
Q6. How to apply for the IPO?
Investors can apply for the IPO through ASBA via net banking or using UPI through registered stock brokers once the IPO opens for subscription.