Manilam Industries India IPO
Bookbuilding IPO | ₹40.00 Cr | Listing at NSE SME
Closed
IPO Open
Fri, Feb 20, 2026
IPO Close
Tue, Feb 24, 2026
Price Band
₹65.00 to ₹69.00
Market Cap (Pre-IPO)
₹150.75 Cr
IPO Details
| IPO Date | Feb 20, 2026 to Feb 24, 2026 |
| Listing Date | Tentative: Feb 27, 2026 |
| Face Value | ₹10.00 per share |
| Price Band | ₹65.00 to ₹69.00 |
| Lot Size | 2000 Shares (Minimum: ₹138,000.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Issue Size | ₹40.00 Crores |
| Total Shares Offered | 5,790,000 shares |
| Fresh Issue | 4,406,000 shares |
| Offer For Sale | 1,092,000 shares |
Manilam Industries India IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 27,42,000 (47.36%) |
| Retail Shares Offered | 19,28,000 (33.30%) |
| NII Shares Offered | 8,28,000 (14.30%) |
Manilam Industries India IPO Lot Size
Investors can bid for a minimum of 4,000 shares and in multiples of 2,000 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 4,000 | ₹276,000 |
| Retail (Max) | 2 | 4,000 | ₹276,000 |
| S-HNI (Min) | 3 | 6,000 | ₹414,000 |
| S-HNI (Max) | 7 | 14,000 | ₹966,000 |
| B-HNI (Min) | 8 | 16,000 | ₹1,104,000 |
Manilam Industries India Financial Information (Restated Consolidated)
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 159.99 | 158.98 | 149.56 | 133.55 |
| Total Income | 60.53 | 142.16 | 138.04 | 148.82 |
| Profit After Tax | 3.16 | 7.38 | 3.10 | 1.53 |
| EBITDA | 8.67 | 17.75 | 14.18 | 9.12 |
| NET Worth | 43.08 | 33.87 | 26.38 | 23.24 |
| Reserves and Surplus | 25.93 | 31.57 | 24.08 | 20.94 |
| Total Borrowing | 58.05 | 62.44 | 73.49 | 60.75 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 24.80% |
| ROCE (Return on Capital Employed) | 36.68% |
| RoNW (Return on Net Worth) | 24.80% |
| PAT Margin (Profit After Tax Margin) | 5.33% |
| EBITDA Margin | 12.67% |
| Price to Book Value | 0.47 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 4.30 | 2.89 |
| P/E (x) | 16.04 | 23.85 |
| Promoter Holding | 78.79% | 61.85% |
Company Promoters
- Manilam Retail India Private Limited
- Mr. Umesh Kumar Nemani
- Mr. Manoj Kumar Agrawal and Mr. Aman Kumar Nemani are the company promoters.
Company Overview
Manilam Industries India – Company Overview
- Incorporated in 2015; engaged in manufacturing and sale of Decorative Laminates and Plywood.
- Offers multiple laminate collections including Artistica, Vogue, Dwar, Magnificent, Chromatic Tales, Flute, ECP, Wood & Veneer, and Wall Cladding.
- Products cater to both residential and commercial interior applications.
- Also involved in trading of plywood in various grades and sizes for industrial and commercial sectors.
- Manufacturing plant located at Village Manda, Bhojipura Nainital Road, Bareilly, Uttar Pradesh, spread over 20,650 sq. meters.
- Operates on a B2B business model, supplying through a distributor network.
- Established Experience Centres in Bangalore, Delhi, and Chennai for product display and customer engagement.
- Integrated Service Depot + Experience Centre model in Bangalore and Chennai for display, stock, and dispatch under one roof.
- As of February 10, 2026, the company had 152 employees, including contractual workers.
Use of Proceeds
| 1) | A. Capital Expenditure - Purchase of equipment/machinery of the Company. B. Capital Expenditure - Purchase and installation of Solar Panel Panels at the manufacturing plant. | 1.25 |
| 2) | Repayment in full or in part, of certain loans availed by the Company | 2.20 |
| 3) | Working Capital Requirements of the Company | 3.50 |
| 4) | General Corporate Purposes | 16.65 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Manilam Industries India IPO Peer Comparison
Manilam Industries India peer comparison with similar listed entities. (As on March 31, 2025)| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Manilam Industries India | 1.88 | - | - | - | 8.35 | - | - |
| Archidply Industries | 1.62 | - | - | 52.41 | 52.41 | - | - |
Quick Info
| Sector | manufacturing |
| Exchange | NSE SME |
| Market Cap (Pre-IPO) | ₹150.75 Cr |
Important Dates
| IPO Open | Feb 20, 2026 |
| IPO Close | Feb 24, 2026 |
| Allotment Date | Feb 25, 2026 |
| Credit to Demat | Feb 26, 2026 |
| Listing Date | Tentative: Feb 27, 2026 |
Lead Manager(s)
NEXGEN Financial Solutions Pvt. Ltd.
Registrar
Description
- IPO Type: Manilam Industries IPO is a book build issue worth ₹39.95 crores, comprising a fresh issue of 0.47 crore equity shares aggregating to ₹32.42 crores and an offer for sale (OFS) of 0.11 crore shares amounting to ₹7.53 crores. The proceeds from the fresh issue are intended to support business growth and operational requirements.
- IPO Dates: The IPO opens for public subscription on February 20, 2026 and closes on February 24, 2026, providing a limited window for investors to participate in this SME offering.
- Allotment & Listing: The basis of allotment for Manilam Industries IPO is expected to be finalized on February 25, 2026. The equity shares are proposed to be listed on the NSE SME platform with a tentative listing date of February 27, 2026.
- Price Band: The IPO price band is fixed at ₹65 to ₹69 per equity share, making it a moderately priced SME IPO suitable for investors seeking exposure to emerging Indian companies.
- Lot Size: The minimum application size is 2,000 equity shares, which defines the entry threshold for retail and non-institutional investors.
- Retail Investment Requirement: Retail investors are required to invest a minimum of ₹2,76,000, calculated for 4,000 shares at the upper end of the price band.
- HNI Investment Requirement: High Net-worth Individuals (HNIs) must apply for a minimum of 3 lots (6,000 shares), translating into an investment of approximately ₹4,14,000 at the upper price band.
- Investor Focus: This IPO may be of interest to investors tracking SME IPOs on NSE, companies with mixed fresh issue and OFS structures, and those looking for medium-risk opportunities in India’s growing SME segment.