Manilam Industries India IPO: Manilam Industries has recently registered its presence on the NSE SME platform of the Indian stock exchange. This was a book build issue of ₹39.95 crore, in which the company issued fresh shares worth ₹32.42 crore and sold shares worth ₹7.53 crore through Offer for Sale. The application process for this IPO ran from 20 February to 24 February 2026, after which the shares were allotted among the successful investors on 25 February. Ultimately, its official listing on the stock exchange was completed on 27 February 2026.
From the investment point of view, the price band of this IPO was set at ₹ 69 per share. The minimum investment limit for retail investors started from a single lot of 2,000 shares to a maximum of ₹2,76,000 (4,000 shares), while a minimum of 3 lots was mandatory for the HNI category. The responsibility of managing the entire issue was taken over by Nexgen Financial Solutions as the lead manager, while Mass Services Ltd. was its registrar. Investors can consult the company’s Red Herring Prospectus (RHP) for a more detailed understanding.
Manilam Industries India IPOÂ Overview
This ₹39.95 crore IPO of Manilam Industries was open for investment between February 20 and February 24, 2026, with the price band fixed at ₹65 to ₹69 per share. The book build issue comprised both fresh issue of new shares and offer for sale, with the listing successfully taking place on the NSE SME platform on February 27, 2026. The company plans to utilize the proceeds from this public offering primarily for working capital requirements, purchase of machinery and repayment of old loans.
| Details | Descriptions |
|---|---|
| IPO Date | 20 to 24 Feb, 2026 |
| Listing Date | Fri, Feb 27, 2026 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹65 to ₹69 |
| Lot Size | 2,000Â Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 57,90,000 shares (agg. up to ₹40 Cr) |
| Reserved for Market Maker | 2,92,000 shares (agg. up to ₹2 Cr) |
| Fresh Issue | 44,06,000 shares (agg. up to ₹30 Cr) |
| Offer for Sale | 10,92,000 shares of ₹10 (agg. up to ₹8 Cr) |
| Net Offered to Public | 44,06,000 shares (agg. up to ₹30 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,71,50,000Â shares |
| Share Holding Post Issue | 2,18,48,000Â shares |
Manilam Industries India IPOÂ Schedule
This ₹39.95 crore IPO of Manilam Industries was open for investment between February 20 and February 24, 2026, with the price band fixed at ₹65 to ₹69 per share. The book build issue comprised both fresh issue of new shares and offer for sale, with the listing successfully taking place on the NSE SME platform on February 27, 2026. The company plans to utilize the proceeds from this public offering primarily for working capital requirements, purchase of machinery and repayment of old loans.
| Details | Description |
|---|---|
| IPO Open Date | Fri, Feb 20, 2026 |
| IPO Close Date | Tue, Feb 24, 2026 |
| Tentative Allotment | Wed, Feb 25, 2026 |
| Initiation of Refunds | Thu, Feb 26, 2026 |
| Credit of Shares to Demat | Thu, Feb 26, 2026 |
| Tentative Listing Date | Fri, Feb 27, 2026 |
Manilam Industries India IPO Lot Size Details
The minimum lot size for investors in Manilam Industries IPO has been set at 2,000 shares, for which it was mandatory for retail investors to invest at least ₹2,76,000 (2 lots or 4,000 shares). At the same time, the minimum investment limit for non-institutional investors (HNI) was fixed at 3 lots (6,000 shares), the total amount of which comes to ₹4,14,000. The IPO is listed on the NSE SME platform, where shares are traded and bid in multiples of fixed lot sizes.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 4,000 | ₹2,76,000 |
| Individual investors (Retail) (Max) | 2 | 4,000 | ₹2,76,000 |
| S-HNI (Min) | 3 | 6,000 | ₹4,14,000 |
| S-HNI (Max) | 7 | 14,000 | ₹9,66,000 |
| B-HNI (Min) | 8 | 16,000 | ₹11,04,000 |
Manilam Industries India IPO Allocation
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,92,000 (5.04%) |
| QIB Shares Offered | 27,42,000 (47.36%) |
| − Anchor Investor Shares Offered | 16,38,000 (28.29%) |
| − QIB (Ex. Anchor) Shares Offered | 11,04,000 (19.07%) |
| NII (HNI) Shares Offered | 8,28,000 (14.30%) |
| − bNII > ₹10L | 5,52,000 (9.53%) |
| − sNII < ₹10L | 2,76,000 (4.77%) |
| Retail Shares Offered | 19,28,000 (33.30%) |
| Total Shares Offered | 57,90,000 (100.00%) |
Manilam Industries India IPO Anchor Investors
| Details | Promoter Holding (%) |
|---|---|
| Bid Date | Thu, Feb 19, 2026 |
| Shares Offered | 16,38,000 |
| Anchor Portion (₹ Cr.) | 11.30 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Mar 27, 2026 |
Overview of Manilam Industries India
Established in the year 2015, Manilam Industries India Limited is a leading company in the field of manufacturing and selling of Decorative Laminates and Plywood. The company has developed several unique collections keeping in mind the market needs and feedback from distributors, prominent among which are the Artistica, Vogue, Dwar and Magnificent collections. Additionally, new collections such as Chromatic Tails, Flute, ECP, Wood & Laminate, and Wall Cladding have also been introduced, offering a wide range of designs and finishes for both residential and commercial projects. Apart from laminates, the company is also active in the trading of plywood, which is available in various grades and sizes and mainly caters to the needs of industrial sectors.
The company state-of-the-art manufacturing plant is located at Manda Village on Bhojipura Nainital Road in Bareilly, Uttar Pradesh, and spread over a vast area of ​​20,650 square meters. Manilam Industries works on a business-to-business (B2B) model, where small and large distributors across the country place orders directly to the manufacturing plant.
Through this well-organized supply chain the company ensures quality and timely delivery of products.
To further enhance customer engagement, the company has set up its experience centers in major metros such as Bangalore, Delhi and Chennai. In Bangalore and Chennai, the company has combined service depots and experience centers, providing displays, stock, and dispatch and customer interaction under one roof. This model allows customers to see the products first-hand, get expert guidance on color and design combinations, and fulfill their orders efficiently. As of 10 February 2026, the company workforce consists of 152 employees, including third-party contract workers.
Company Financials
Manilam Industries India Financial Information (Restated Standalone)
The company financial performance has seen a steady improvement, where its profit after tax (PAT) increased from ₹1.59 cr. in March 2023 to ₹3.14 cr. in March 2024 and then to ₹7.47 cr. in March 2025. During the same period, the company total assets also increased from ₹60.75 cr. to ₹73.49 cr., reflecting its strong infrastructure and growing business expansion. Also, the company has reported a profits of ₹140.03 cr. and an impressive Return on Equity (RoE) of 22.05% for FY 2024-25, Making it an attractive option for investors.
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 159.99 | 158.98 | 149.56 |
| Total Income | 60.53 | 142.16 | 138.04 |
| Profit After Tax | 3.16 | 7.38 | 3.10 |
| EBITDA | 8.67 | 17.75 | 14.18 |
| Net Worth | 43.08 | 33.87 | 26.38 |
| Reserves and Surplus | 25.93 | 31.57 | 24.08 |
| Total Borrowing | 58.05 | 62.44 | 73.49 |
Key Performance Indicator (KPI)
The market cap. of Manilam Industries India IPO is ₹150.75 Crores.
KPI as of Mon, Sep 30, 2025, & Mar 31, 2025
| KPI | Sep 30, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 8.35% | 24.80% |
| ROCE | 13.50% | 36.68% |
| Debt/Equity | – | – |
| RoNW | 8.35% | 24.80% |
| PAT Margin | 5.33% | 5.33% |
| EBITDA Margin | 14.39% | 12.67% |
| Price to Book Value | 2.75 | 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% |
Manilam Industries India IPOÂ Objectives
| Objects of the Issue | Expected Amount (₹ in cr.) |
|---|---|
| Funding working capital requirements of the company | 6.95 |
| Offer for Sale (OFS) | 7.53 |
| Working Capital Requirements of the Company | 16.65 |
| General corporate purposes | 4.82 |
| Total | 35.95 |
Manilam Industries India IPOÂ Contact Details
- Manilam Industries India Ltd.
- 46, B. B. Ganguly Street
- 5th Floor, Room No-9
- Kolkata, West Bengal, 700012
- 03335076903
- info@manilam.com
- Website: https://www.manilam.com/
Manilam Industries India IPOÂ Registrar
MAS Services Ltd.
| Details | Descriptions |
|---|---|
| Phone: | (011) 2610 4142 |
| Email: | ipo@masserv.com |
| Website: | https://www.masserv.com/opt.asp |
Manilam Industries India IPOÂ FAQs
When Manilam Industries India IPO become available?
The IPO will open on Fri, Feb 20, 2026.
What is the minimum lot size for the Manilam Industries India IPO?
The minimum lot size is 2,000 shares.
When will the shares for the Manilam Industries India IPO be allotted?
The allotment is expected to be finalized on Wed, Feb 25, 2026.
What is the expected listing date for the Manilam Industries India IPO?
The tentative listing date is Fri, Feb 27, 2026.
How can I apply for the Manilam Industries India IPO?
You can apply online through your bank or a broker using either the UPI or ASBA payment methods.
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