Bookbuilding IPO | ₹40 Cr | Listed at NSE SME | Fri, Feb 20, 2026 - Tue, Feb 24, 2026
Manilam Industries IPO is a book build issue of ₹39.95 crores. The issue is a combination of fresh issue of 0.47 crore shares aggregating to ₹32.42 crores and offer for sale of 0.11 crore shares aggregating to ₹7.53 crores.
Manilam Industries IPO bidding started from Feb 20, 2026 and ended on Feb 24, 2026. The allotment for Manilam Industries IPO was finalized on Feb 25, 2026. The shares got listed on the NSE SME on Feb 27, 2026.
Manilam Industries IPO is set final issue price at ₹69 per share. The lot size for an application is 2,000 shares. The minimum amount of investment required by an individual investor (retail) is ₹2,76,000 (4,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (6,000 shares), amounting to ₹4,14,000.
NEXGEN Financial Solutions Pvt. Ltd. is the book running lead manager and MAS Services Ltd. is the registrar of the issue. The Market Maker of the company is Nikunj Stock Brokers Ltd..
Refer to Manilam Industries IPO RHP for detailed Information.
IPO Open
Fri, Feb 20, 2026
IPO Close
Tue, Feb 24, 2026
Issue Price
₹69 per share
Market Cap (Pre-IPO)
₹150.75 Cr
| IPO Date | 20 to 24 Feb, 2026 |
| Listed on | Fri, Feb 27, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹65 to ₹69 |
| Issue Price | ₹69 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 57,90,000 shares (agg. up to ₹40 Cr) |
| Reserved for Market Maker | 2,92,000 shares Nikunj Stock Brokers Ltd. (agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 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 | 54,98,000 shares (agg. up to ₹38 Cr) |
| Share Holding Pre Issue | 1,71,50,000 shares |
| Share Holding Post Issue | 2,18,48,000 shares |
| NSE Symbol | MANILAM |
| ISIN | INE1ERK01013 |
Manilam Industries IPO comprises a total issue size of 57,90,000 shares. The net offer to the public is 54,98,000 shares, after excluding 2,92,000 shares allotted on a firm basis. Of the Net offer 27,42,000 (49.87%) are allocated to QIB, 8,28,000 (15.06%) allocated to NII 19,28,000 (35.07%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 27,42,000 | 49.87% | 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 | 15.06% | 14.30% |
| − bNII > ₹10L | 5,52,000 | 9.53% | |
| − sNII < ₹10L | 2,76,000 | 4.77% | |
| Retail Shares Offered | 19,28,000 | 35.07% | 33.30% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,92,000 | 5.04% | |
| Total Shares Offered | 57,90,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 4,000 shares and in multiples of 2,000 shares thereof.
| 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 IPO raises ₹11.30 crore from anchor investors. Manilam Industries IPO Anchor bid date is February 19, 2026.
📝 Anchor Investors Letter (PDF)
| 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 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, May 26, 2026 |
Incorporated in 2015, Manilam Industries India Limited is engaged in the manufacturing and sale of Decorative Laminates and Plywood.
The company has developed and launched several laminate collections, including the Artistica Collection, the Vogue Collection, the Dwar Collection, and the Magnificent Collection. In response to market demand and distributor feedback, additional collections such as Chromatic Tales, Flute, ECP, Wood & Veneer, and Wall Cladding have also been introduced. These collections cater to both residential and commercial applications, providing a wide range of designs and finishes.
In addition to laminates, the company is involved in the trading of plywood in different grades and sizes, primarily serving industrial and commercial sectors.
The company’s manufacturing plant is located at Village Manda, Bhojipura Nainital Road, Bareilly, Uttar Pradesh, covering an area of 20,650 square meters. It operates on a business-to-business (B2B) model, with distributors—both large and small—placing orders directly with the manufacturing plant.
To enhance customer engagement, Manilam Industries India Limited has established Experience Centres in major cities including Bangalore, Delhi, and Chennai. In Bangalore and Chennai, the company follows an integrated setup combining Service Depots with Experience Centres, offering display, stock, dispatch, and customer interaction from a single location. This setup enables customers to view products, receive expert guidance on colour and design combinations, and fulfil orders efficiently.
As of February 10, 2026, the company employed a total of 152 individuals, including workers on third-party contracts.
| 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 ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Capital Expenditure - Purchase of equipment/machineries | 1.25 |
| 2 | Capital Expenditure - Purchase and installation of Solar Panel at the Manufacturing Plant | 2.20 |
| 3 | Repayment in full or in part, of certain loans availed by the Company | 3.50 |
| 4 | Working Capital Requirements of the Company | 16.65 |
| 5 | Expenses for General Corporate Purposes | 4.82 |
| Total | 28.42 |
| KPI | Sep 30, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 8.35% | 24.80% |
| ROCE | 13.50% | 36.68% |
| 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 (₹) | 4.30 | 2.89 |
| P/E (x) | 16.04 | 23.85 |
| Promoter Holding | 78.79% | 61.85% |
| Market Cap | ₹150.75 Cr. |
The Manilam Industries IPO is subscribed 6.25 times on February 24, 2026 6:55:00 PM (Day 3). The public issue subscribed 5.88 times in the individual investors category, 2.24 times in the QIB category, and 12.49 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (x) | Shares Offered | Shares bid for | Total Applications |
|---|---|---|---|---|
| QIB (Ex Anchor) | 2.24 | 11,04,000 | 24,68,000 | 7 |
| NII* | 12.49 | 8,28,000 | 1,03,40,000 | 898 |
| bNII (> ₹10L) | 14.16 | 5,52,000 | 78,16,000 | |
| sNII (< ₹10L) | 9.14 | 2,76,000 | 25,24,000 | |
| Individual Investor | 5.88 | 19,28,000 | 1,13,36,000 | 2,834 |
| Total | 6.25 | 38,60,000 | 2,41,44,000 | 3,739 |
Total Applications: 3,739
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead manager(s) fees | 1.00 |
| 2 | Undertaking commission | 1.60 |
| 3 | Brokerage, Selling Commission and upload fees | 0.01 |
| 4 | Registrars to the issue | 0.05 |
| 5 | Legal Advisors | 0.15 |
| 6 | Advertising and Marketing Expenses | 0.05 |
| 7 | Regulators including stock exchanges | 0.10 |
| 8 | Printing and distributions of issue stationary | 0.03 |
| 9 | Others, if any (to be specified) | 1.01 |
| Total | 4.00 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹69.00 |
| Open | ₹55.20 |
| Low | ₹52.45 |
| High | ₹55.20 |
| Last Trade | ₹52.45 |
Lead Manager Reports
Manilam Industries IPO is a SME IPO of 57,90,000 equity shares of the face value of ₹10 aggregating up to ₹40 Crores. The issue is priced at ₹69 per share. The minimum order quantity is 2000.
The IPO opens on Fri, Feb 20, 2026, and closes on Tue, Feb 24, 2026.
MAS Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Manilam Industries IPO using UPI as a payment gateway. Zerodha customers can apply in Manilam Industries IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Manilam Industries IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Manilam Industries IPO opens on Fri, Feb 20, 2026 and closes on Tue, Feb 24, 2026.
Manilam Industries IPO lot size is 2000, and the minimum amount required for application is ₹2,76,000, with 2 lots being the minimum application size.
You can apply in Manilam Industries IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Manilam Industries IPO will be done on Wednesday, February 25, 2026, and the allotted shares will be credited to your demat account by Thu, Feb 26, 2026. Check the Manilam Industries IPO allotment status.
The Manilam Industries IPO listing date is on Fri, Feb 27, 2026.
