Home >> IPO >> Manilam Industries India IPO : GMP, Price, Analysis, And Details
Manilam Industries India IPO : GMP, Price, Analysis, And Details
Table of Contents
Manilam Industries IPO- Company Analysis
Manilam Industries IPO under the SME IPO category is a bookbuild issue of Rs. 39.95 Cr by Manilam Industries Limited and is involved in the production and distribution of plywood and decorative laminates.
The Artistica Collection, the Vogue Collection, the Dwar Collection, and the Magnificent Collection are just a few of the laminate collections that the company has created and introduced. Other collections, such as Chromatic Tales, Flute, ECP, Wood & Veneer, and Wall Cladding, have also been released in response to distributor input and market need. These collections offer a wide variety of designs and finishes to suit both residential and commercial applications.
The business mainly serves the commercial and industrial sectors by trading plywood in various grades and sizes, in addition to laminates. The company's 20,650 square meter production facility is situated at Village Manda, Bhojipura Nainital Road, Bareilly, Uttar Pradesh.
Manilam Industries IPO Details
The Manilam Industries IPO date of opening is 20 Feb 2026, its initial public offering will end on 24 Feb, IPO allotment on Feb 25 and refund initiation on Feb 26, 2026.
The Rs. 39.95 crore new SME IPO comprises a combination of fresh issue of 0.47 crore shares (Rs. 32.42 Cr) and offer for sale of 0.11 crore shares (Rs. 7.53 Cr).
The Manilam Industries IPO listing date (expected) might be on Friday, Feb 27, 2026, and listing at the NSE and SME.
The Manilam Industries IPO price band is Rs. 65 to Rs. 69.
IPO Timetable (Tentative)
|
Events |
Date |
|
IPO Opening Date |
Feb 20, 2026 |
|
IPO Closing Date |
Feb 24, 2026 |
|
IPO Allotment Date |
Feb 25, 2026 |
|
Refund Initiation |
Feb 26, 2026 |
|
IPO Listing Date |
Feb 27, 2026 |
Click to open demat account and apply for the IPO.
Company Financials
(Amount in Cr)
|
Particulars |
31 Mar 2025 |
31 Mar 2024 |
31 Mar 2023 |
|
Assets |
158.98 |
149.56 |
133.55 |
|
Total Income |
142.16 |
138.04 |
148.82 |
|
Profit After Tax |
7.38 |
3.10 |
1.53 |
|
EBITDA |
17.75 |
14.18 |
9.12 |
|
Net Worth |
33.87 |
26.38 |
23.24 |
|
Reserves and Surplus |
31.57 |
24.08 |
|
|
Total Borrowing |
158.98 |
149.56 |
133.55 |
Cash Flows
(Amount in lac)
|
Net Cash Flow |
31 Mar 2025 |
31 Mar 2024 |
31 Mar 2023 |
|
Net Cash Flow Operating Activities |
1,649.98 |
(419.41) |
(285.18) |
|
Net Cash Flow Investing Activities |
81.11 |
(122.39) |
(504.85) |
|
Net Cash Flow Financing Activities |
(1,733.94) |
559.72 |
784.43 |
Revenue Bifurcation
(Rs. in Lac)
(Source: RHP)
The Objective of the Issue
The company desires to use the Net Proceeds from the Issue to fulfill its following goals:
- Capital Expenditure - Purchase of equipment/machinery. ~ Rs. 1.25 Cr.
- Capital Expenditure - Purchase and installation of Solar Panel at the Manufacturing Plant. ~ Rs. 2.20 Cr.
- Repayment in full or in part of certain loans availed by the Company. ~ Rs. 3.50 Cr.
- Working Capital Requirements of the Company. ~ Rs. 16.65 Cr.
- General Corporate Purposes.
Listed Peers of Manilam Industries Ltd.
|
Name of Company |
Face Value (₹) |
Basic EPS (₹) |
PE Ratio (x) |
|
Archidply Industries Ltd |
10 |
1.62 |
52.41 |
|
Rushil Decor Limited |
1 |
(0.31) |
Nil |
Valuation
|
KPI |
Value |
|
ROE |
24.80% |
|
ROCE |
36.68% |
|
RoNW |
24.80% |
|
PAT Margin |
5.33% |
|
EBITDA Margin |
12.67% |
|
Price to Book Value |
0.47 |
Evaluation of P/E Ratio
Considering the period ended on FY 2025 with an EPS of Rs. 4.58 from the last year, the resulting P/E ratio is 15.06x.
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IPO's Strengths
- Wide market reach.
- It's diverse product portfolio.
- Advanced OCTA technology.
IPO's Weaknesses
- Despite profitability improvements, revenue has been inconsistent.
- Interest coverage, though improving (1.42x in FY2023 to 2.57x in FY2025), still reflects a limited cushion to service debt.
- High short-term borrowings.
Manilam Industries IPO GMP (Grey Market Premium)
Manilam Industries IPO GMP today is Rs. 0 as of 19 Feb 2026 while writing this information. A price band set at Rs. 69 suggests that the estimated listing price of the IPO could be around Rs. 69, indicating a gain/loss of 0%.
Manilam Industries IPO Summary
|
IPO Opening & Closing Date |
20 Feb, 2026 to 24 Feb, 2026 |
|
Face Value |
Rs. 10 per Share |
|
Issue Price |
Rs. 65 to Rs. 69 per Share. |
|
Lot Size |
2000 Shares |
|
Issue Size |
57,90,000 Shares (Rs. 40 Cr) |
|
Offer for Sale |
- |
|
Fresh Issue |
44,06,000 Shares (Rs. 30 Cr) |
|
Listing at |
NSE, SME |
|
Issue Type |
Bookbuild issue IPO |
|
Registrar |
MAS Services Ltd. |
IPO Lot Details
Retail investors can invest in a minimum and maximum of 2 Lots (4000 Shares) for Rs. 2,76,000, and in multiples thereof, while HNI investors can invest in a minimum of 3 Lots (6000 Shares) for Rs. 4,14,000.
|
Minimum Lot Investment (Retail) |
2 Lots |
|
Maximum Lot Investment (Retail) |
2 Lots |
|
HNI (Min) |
3 Lots |
Manilam Industries IPO Allotment Status
To check the Manilam Industries IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.
Using BSE Website - "‹BSE IPO allotment status
Promoters And Management of Manilam Industries Ltd.
- Manilam Retail India Private Limited
- Mr. Umesh Kumar Nemani
- Mr. Manoj Kumar Agrawal
- Mr. Aman Kumar Nemani.
|
Pre-Issue Promoter Shareholding |
78.79% |
|
Post-Issue Promoter Shareholding |
61.85% |
IPO Lead Managers
- NEXGEN Financial Solutions Pvt. Ltd.
Dividend Policy
The company has not paid a dividend since its incorporation.
Conclusion
With a price range of Rs. 65–69 per share, Manilam Industries IPO is an SME bookbuild issuance in the plywood and decorative laminates sector. For SME investors, the IPO seems reasonably priced with improved FY25 financials, a 24.80% ROE, and a respectable P/E of 15.06x. High borrowing costs and erratic income growth, however, continue to be significant concerns that investors should thoroughly consider before applying.
Finowings IPO Analysis
Hope you enjoyed the Finowings IPO Analysis. We have done our best to provide all the necessary details about the company that you should know before applying for the IPO.
You must consult your financial advisor before making any financial decisions.
To Apply for the IPO, Click Here.
To Read the Prospectus of the Company, Click Here to Download the DRHP.
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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.
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Frequently Asked Questions
Feb 20, 2026.
On Feb 27, 2026, this IPO can be listed.
To apply for the Manilam Industries IPO, you need to have a demat account. If not, click to open demat account, then log in to the app and search for IPO, fill in the necessary details, bids, DOB, etc, during the IPO open date and submit your request.
- To check the allotment status of any IPO, follow the simple guide below-
- Go to the Registrar's website (e.g. KFintech, Link Intime, Bigshare). For your reference, the websites of these Registrars are provided below-
Link Intime IPO allotment status
Kfintech IPO allotment status​
- From the menu, choose the IPO name.
- Enter your DP/Client ID, Application No., or PAN.
- Click "Search" or "Submit" to see the status of your allocation.
- Feb 25, 2026.
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