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Mumbai-based plastic products manufacturer Manika Plastech has announced the price for its upcoming initial public offering. The price band has been set at ₹40- ₹43 per share, with a face value of ₹2. The upcoming IPO will open for subscription on 11 September and close on 16 September. The company plans to raise ₹92.5 crore through a fresh issue of equity shares, while promoter entity VRIDAA Holding Trust will sell up to 76.74 lakh shares via an offer for sale (OFS). The anchor bidding window for institutional investors will remain open for one day on September 10. The company is expected to finalise the share allotment by September 17, with its equity shares likely to be listed on the stock exchanges from September 21. The company plans to allocate ₹54.9 crore from the net proceeds of the fresh issue towards the purchase of plant and machinery. Another ₹15 crore will be utilised for debt repayment, compared with total outstanding borrowings of ₹77.9 crore as of July 2026. The balance of the proceeds will be directed towards general corporate purposes. Pantomath Capital Advisors has been appointed as the merchant banker to oversee the Manika Plastech IPO. Promoted by the Kapadia family, Manika Plastech is a design-focused and precision-engineered rigid polymer packaging company. It manufactures both standard and customised products, including battery casings, pails and containers, automotive components, and thin-wall containers. The company has seven manufacturing facilities with a combined production capacity of 29,200 MTPA. Its products cater to a diverse range of industries, such as vehicle batteries, inverters, paints, agrochemicals, lubricants, food and dairy, and construction chemicals. For the quarter ended June 2026, Manika Plastech posted a profit of ₹13 crore on revenue of ₹162.4 crore. During FY26, the company’s profit rose 15.9% year-on-year to ₹22.4 crore, while revenue from operations grew 7.3% to ₹436 crore. Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions. Vaamanaa covers business and stock market news. Started in 2020, she has been producing news on digital platforms for over 4.5 years now. She writes on markets, commodities, IPOs, and industry. She has worked for news channels like Jagran New Media and Business Insider India. You can reach out to her at vaamanaa.sethi@htdigital.in. Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
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