Manilam Industries IPO Subscribed 6.25 Times on Day 3

Manilam Industries India Limited's initial public offering (IPO) closed its three-day subscription window on a strong note, reaching 6.25 times overall subscription by 5:20 PM on Day 3 (February 24, 2026). The ₹39.95 crore book-build issue, priced at ₹65–₹69 per share, received bids for 2,41,44,000 shares against 38,60,000 shares on offer, with total applications reaching 3,739.

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Subscription Status of Manilam Industries IPO

Here are the subscription details for Manilam Industries IPO as of Day 3 (February 23, 2026, 5:00:02 PM):

Key Highlights - Day 3:

• Overall subscription reached a strong 6.25 times on Day 3 (February 24, 2026), showing substantial improvement from Day 2's 1.77 times.
• Non-institutional investors led subscription with exceptional interest at 12.49 times, surging from Day 2's 3.37 times, with bNII recording stronger demand at 14.16 times and sNII at 9.14 times.
• Individual investors showed strong confidence at 5.88 times, building substantially from Day 2's 2.02 times, indicating robust retail demand for this SME IPO.
• Qualified institutional buyers (ex-anchor) recorded 2.24 times, a significant jump from Day 2's 0.12 times, indicating improved institutional appetite on the final day.
• Market makers fully subscribed their allocation of ₹2.02 crores.

Key Highlights - Day 2:

• Overall subscription reached 1.77 times on Day 2 (February 23, 2026), showing substantial improvement from Day 1's 0.23 times.
• Non-institutional investors led Day 2 with 3.37 times, surging from Day 1's 0.35 times, with bNII at 3.70 times and sNII at 2.70 times.
• Individual investors showed improving confidence at 2.02 times, building from Day 1's 0.30 times.
• Qualified institutional buyers (ex-anchor) recorded negligible participation at 0.12 times on Day 2.

Key Highlights - Day 1:

• Overall subscription reached 0.23 times on Day 1 (February 20, 2026), reflecting cautious initial investor interest in this SME IPO.
• Non-institutional investors recorded 0.35 times on Day 1, with bNII at 0.49 times and sNII at 0.07 times.
• Individual investors showed subdued participation at 0.30 times on Day 1.
• Qualified institutional buyers (ex-anchor) showed negligible participation at 0.00 times on Day 1.

About Manilam Industries India Limited

Incorporated in 2015, Manilam Industries India Limited is engaged in the manufacturing and sale of decorative laminates and plywood, operating on a B2B model. The company offers multiple laminate collections including Artistica, Vogue, Dwar, Magnificent, Chromatic Tales, Flute, ECP, Wood and Veneer, and Wall Cladding, catering to both residential and commercial applications. In addition to laminates, it trades plywood across various grades and sizes for industrial and commercial sectors. The company has established Experience Centres in Bangalore, Delhi, and Chennai to enhance customer engagement, with integrated Service Depots in Bangalore and Chennai enabling display, stock, dispatch, and customer interaction from single locations.