Manika Plastech's ₹125.50 crore initial public offering (IPO) entered for its second day of public subscription today, September 15, 2026, with a price band of ₹40 to ₹43 per share. As of 10:50 A.M on the second day of bidding, the issue had been subscribed 3.46 times.

The IPO will remain open for subscription until September 16, 2026. The basis of allotment is expected to be finalised on September 17, 2026, while the shares are tentatively scheduled to be listed on the NSE and BSE on September 21, 2026.

Manika Plastech IPO - Issue Details

Issue Type: Book Built Issue (Fresh Issue + OFS)
Total Issue Size: Up to ₹125.50 crore
Fresh Issue: Up to ₹92.50 crore
Offer for Sale (OFS): Up to ₹33.00 crore
Face Value: ₹2 per equity share
Price Band: ₹40 to ₹43 per share
Lot Size: 348 shares
Minimum Investment Amount (Retail Investor): ₹14,964 (348 shares at the upper price)
Listing: BSE, NSE
Book Running Lead Managers: Pantomath Capital Advisors Private Limited
Registrar: MUFG Intime India Private Limited

Manika Plastech IPO Timeline (Tentative)

The expected IPO schedule is as follows:

Event	Date
Subscription Opening Date	11 September 2026
Subscription Closing Date	16 September 2026
Basis of Allotment Date	17 September 2026
Refund Initiation Date	18 September 2026
Credit of Shares	18 September 2026
Listing on BSE and NSE	21 September 2026

Note: The allotment and listing dates are tentative and may be revised.

Explore other Upcoming IPOs on BSE and NSE.

Manika Plastech IPO Day 2 Subscription Status

[September 15, 2026, 10:50 A.M.]

Category	Subscription (x)
Qualified Institutional Buyers (QIBs)	0.35x
Non-Institutional Investors (NIIs)	3.71x
Retail Individual Investors (RIIs)	5.08x
Total	3.46x

Utilisation of IPO Proceeds

The company intends to utilise the net proceeds from the fresh issue towards:

Funding the capital expenditure towards purchase of plant and machinery
Repayment and or pre-payment, in part or full, of certain borrowings availed by the company
General corporate purposes.

About Manika Plastech Limited

Manika Plastech Limited develops and manufactures precision-engineered rigid polymer packaging for industries such as energy storage, dairy, food, paints, chemicals, and automotive. With an in-house product development setup and 30 registered industrial designs, the company offers products including battery casings, pails, and food-grade thin-wall containers for industrial and consumer applications.

Its operations cover the complete packaging value chain, from product development and raw material procurement to manufacturing, labelling, quality checks, and delivery. The company's battery casings are manufactured to meet Japanese (JIS) and German (DIN) standards. Manika Plastech caters to a diverse customer base spanning telecommunications, lubricants, agrochemicals, construction chemicals, and food packaging.

Key Financial Highlights

Particulars	FY26 (in ₹ crore)	FY25 (in ₹ crore)	FY24 (in ₹ crore)
Revenue from operations	435.98	406.50	360.77
EBITDA	58.14	45.30	30.89
Profit After Tax (PAT)	22.40	19.31	11.53