Investors looking at new opportunities in the primary market will soon have another option to consider. Manika Plastech Limited has announced that its Initial Public Offering (IPO) will open for public subscription on September 11, 2026. The company has fixed the price band for the issue at ₹40 to ₹43 per equity share.
Before the public issue opens, bidding for anchor investors is scheduled to begin on September 10. The IPO will remain open for subscription until September 16, giving investors several days to place their bids.
According to the company, investors can apply for a minimum of 348 equity shares. Applications can be made in multiples of 348 shares after the initial lot size. Each equity share carries a face value of ₹2.
The IPO consists of two parts. The first is a fresh issue of shares worth up to ₹92.5 crore. The second component is an Offer for Sale (OFS) of up to 7,674,418 equity shares. Through the fresh issue, the company will raise funds that will be used for business growth and financial strengthening. In the OFS portion, existing shareholders will sell part of their holdings.
Manika Plastech plans to use the proceeds from the fresh issue for several key purposes. A significant portion of the funds will be invested in capital expenditure, particularly for the purchase of plant and machinery. This is expected to support the company’s manufacturing capabilities and help it meet future business requirements.
The company also intends to use part of the proceeds for the repayment or prepayment of certain borrowings. Reducing debt can help improve financial flexibility and lower interest-related expenses over time. The remaining funds will be allocated towards general corporate purposes, which may include operational requirements and other business initiatives.
The IPO comes at a time when many companies are tapping the capital markets to fund expansion plans and strengthen their balance sheets. For businesses in the manufacturing sector, investments in modern machinery and production infrastructure are often seen as important steps towards improving efficiency and supporting long-term growth.
Manika Plastech has proposed to list its equity shares on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). A dual listing on India’s two major stock exchanges can provide wider visibility and liquidity for investors after the shares begin trading.
The book-running lead manager for the issue is Pantomath Capital Advisors Private Limited, which is overseeing the public offering process.
As the subscription window approaches, investors are expected to closely examine the company’s financial performance, business prospects, industry position and future growth plans before making investment decisions. With the IPO market continuing to attract attention from retail and institutional investors alike, Manika Plastech’s public issue will be another offering to watch in the coming days.
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