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 metres. 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.

Manilam Industries IPO is a book build issue of ₹39.95 crore, comprising a fresh issue of 0.47 crore shares aggregating to ₹32.42 crore and an offer for sale of 0.11 crore shares aggregating to ₹7.53 crore. The IPO opened on February 20, 2026, and closed on February 24, 2026. The allotment is expected on Wednesday, February 25, 2026. The share price band was set at ₹65 to ₹69 per share.

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Steps to Check Manilam Industries IPO Allotment Status on Registrar Site

• Visit the MAS Services Ltd.
• Select "Manilam Industries" from the dropdown menu on the allotment status page
• Enter your PAN ID, Demat Account Number, or Application Number in the designated field
• Complete the captcha verification process and click on the "Submit" button to view your allotment status

Steps to Check Manilam Industries IPO Allotment Status on BSE

• Navigate to the NSE SME IPO Allotment Status Page
• Select the issue type: equity/debt
• Choose "Manilam Industries" from the list of active IPOs in the dropdown menu
• Input your Application Number and PAN ID in the required fields
• Verify the captcha and click "Search" to check your allotment status

Manilam Industries IPO subscribed 6.25 times overall. Here is the category-wise breakdown as of 5:20:00 PM on February 24, 2026:

Manilam Industries IPO Subscription Status

QIB Category (Ex Anchor): 2.24 times
Non-Institutional Investors (NII): 12.49 times
Individual Investors: 5.88 times

Manilam Industries IPO Share Price and Investment Details

The minimum investment required was ₹2,76,000 for 2 lots (4,000 shares) for individual investors. The issue raised ₹11.30 crore from anchor investors. The issue includes a reservation of up to 2,92,000 shares for the market maker, Nikunj Stock Brokers Ltd. The anchor investor lock-in period ends on March 27, 2026 for 50% of shares (30 days) and May 26, 2026 for the remaining shares (90 days). Given the overall subscription of 6.25 times with QIB interest at 2.24 times, strong NII participation at 12.49 times, and healthy individual investor subscription at 5.88 times, the share price listing expectations remain positive.

Utilisation of IPO Proceeds

The proceeds will be utilised for capital expenditure towards purchase of equipment/machineries (₹1.25 crore), purchase and installation of solar panels at the manufacturing plant (₹2.20 crore), repayment in full or in part of certain loans availed by the Company (₹3.50 crore), working capital requirements of the Company (₹16.65 crore), and general corporate purposes.

Business Overview

Manilam Industries India Limited is engaged in manufacturing and marketing of decorative laminates and trading in plywood. The company posted inconsistency in its top and bottom lines for the reported periods. Boosted margins from FY24 onwards raise eyebrows and concern over sustainability, as it operates in a highly competitive and fragmented segment.

The company demonstrated financial performance with total income of ₹142.16 crore for FY2025 and a net worth of ₹43.08 crore as of September 30, 2025. The company benefits from a diversified product portfolio spanning multiple laminate collections, an established B2B distribution model, Experience Centres in key metros, and a strategically located manufacturing facility in Uttar Pradesh. However, investors should note the post-issue P/E ratio of 23.85 and Price to Book Value of 2.75.