Manika Plastech to launch Rs 125.5 crore IPO on September 11

Manika Plastech Limited, a manufacturer of plastic products, is scheduled to launch its Initial Public Offering (IPO) on September 11, 2026. The offering is set to close for subscription on September 16, 2026, with anchor investor bidding concluding on September 10.

The total issue size is approximately Rs 125.5 crore, consisting of a fresh issue of Rs 92.5 crore and an Offer for Sale (OFS) of 7,674,418 equity shares valued at approximately Rs 33 crore. The price band for the equity shares has been fixed between Rs 40 and Rs 43. At the upper end of this range, the company's valuation is estimated at around Rs 501 crore.

The company intends to use the net proceeds to fund capital expenditures for plant and machinery, repay or pre-pay certain borrowings, and for general corporate purposes. The shares are proposed to be listed on the BSE Limited and the National Stock Exchange of India Limited, with listing expected around September 21. Pantomath Capital Advisors Private Limited is serving as the book-running lead manager.