Manika Plastech IPO
Plastic products • ₹125cr
High risk because:
- 5 material risk factors disclosed in DRHP
- Muted IPO demand (0.8x overall subscription)
- High dependency on the top five customers for the majority of operating revenue.
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹40-43
Lot Size
348 shares
Issue Size
₹125cr
Open
11 Sept 2026
Close
16 Sept 2026
Subscription
0.75×
GMP +₹10 → est. ₹53
IPO Schedule
| Issue Open Date | 11 Sept 2026 |
| Issue Close Date | 16 Sept 2026 |
| Allotment Date | 17 Sept 2026 |
| Listing Date | 21 Sept 2026 |
About Manika Plastech
Manika Plastech produces rigid plastic packaging products, concentrating primarily on battery casings, pails, and thin-wall containers. The company manufactures its product offerings using an injection moulding process and operates six manufacturing facilities located across Dehradun, Hosur, Panipat, Una, and Dadra, alongside a dedicated painting facility in Hosur. Revenue is primarily generated through the direct sale of its rigid plastic packaging products to various corporate customers. Additionally, the company earns revenue by offering specialized painting services for automotive components at its Hosur location. Manika Plastech caters to prominent original equipment manufacturers and customer accounts across sectors such as battery manufacturing, industrial chemicals, paints, and automotive components. The company positions its operating facilities in close physical proximity to the manufacturing plants of its primary customer accounts to support localized supply requirements.
Company Details
Founders / Promoters
Mr Munjal Nikunj Kapadia
Founded
1996
Registrar
LINK
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Subscription Status
0.75×
Total Subscription
Grey Market Premium (GMP)
Issue Price
₹43
GMP
+₹10
Est. Listing
₹53
Est. Gain
+23.3%
GMP is unofficial grey market data — not regulated by SEBI. Use only as a sentiment indicator alongside subscription data. View all IPO GMP →
Investment Analysis
Manika Plastech — IPOFins Verdict
QuantitativeDriven by overall subscription of 0.8x and elevated disclosed risk (7/10). The signals look weak — weigh the risks carefully. This is a quantitative flag, not a recommendation.
- Long-standing relationships with key clients across diversified industries.
- Manufacturing units located near major customers for reliable supply.
- Diverse product portfolio specializing in durable battery casings and pails.
- Advanced facilities equipped with automated injection moulding machinery.
- Experienced promoter group driving strategic expansion and operational growth.
Score breakdown — what drove this verdict
High risk from DRHP → score -0.8
Total demand signal → score −1.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
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FAQ
What is the price band of Manika Plastech IPO?
The price band is ₹40-43 per share with a lot size of 348 shares. Minimum investment: ₹14,964.
What does Manika Plastech do?
Manika Plastech produces rigid plastic packaging products, concentrating primarily on battery casings, pails, and thin-wall containers. The company manufactures its product offerings using an injection moulding process and operates six manufacturing facilities located across Dehradun, Hosur, Panipat, Una, and Dadra, alongside a dedicated painting facility in Hosur. Revenue is primarily generated through the direct sale of its rigid plastic packaging products to various corporate customers. Additionally, the company earns revenue by offering specialized painting services for automotive components at its Hosur location. Manika Plastech caters to prominent original equipment manufacturers and customer accounts across sectors such as battery manufacturing, industrial chemicals, paints, and automotive components. The company positions its operating facilities in close physical proximity to the manufacturing plants of its primary customer accounts to support localized supply requirements.
Should I apply for Manika Plastech IPO?
Manika Plastech is drawing muted interest at 0.8x overall subscription. IPOFins Score 3/10: Driven by overall subscription of 0.8x and elevated disclosed risk (7/10). The signals look weak — weigh the risks carefully. This is a quantitative flag, not a recommendation.
Who founded Manika Plastech?
Manika Plastech was founded by Mr Munjal Nikunj Kapadia in 1996.