Manas Polymers IPO

Manas Polymers is involved in the manufacturing and supply of premium food-grade polyethylene terephthalate (PET preforms), PET bottles, jars, and closure caps, primarily catering to the PET plastics industry. The company also engages in renewable energy generation and distribution. Initially founded as Manas Power and Infrastructure in 2015 by the Late Anju Bhadauria, the company later expanded its operations under the name Manas Polymers in 2017. The business was formally incorporated as Manas Polymers in January 2024 to further expand its operations in PET plastics and renewable energy. Manas Polymers acquired the businesses of its predecessor concerns in January 2024, consolidating its activities under one entity to optimise resource usage. The company’s manufacturing activities are centered around producing high-quality PET products for the plastics industry. Use of proceeds: This is a fresh issue of shares. Therefore, the net proceeds from the fresh issue will go to the company. They will be utilised for the following purposes: To fund the capital expenditure requirements for setting up a solar power plant—Rs 13.5 crore. To fund the capital expenditure requirements for purchasing fixed assets—Rs 2.97 crore. General corporate purposes. ;