Manilam Industries India IPO
IPO Listing Details
- Listing Date
27 Feb 2026
- Listing Price
₹ 55.20
- Listing Change
-20.00%
- Last Traded Price
₹ 58.45
Manilam Industries India IPO Details
-
Open Date
20 Feb 2026
-
Close Date
24 Feb 2026
-
Listing Date
27 Feb 2026
- IPO Price Range
₹ 65 to ₹69
- IPO Size
₹ 39.95 Cr
- Listing Exchange
NSE SME
Manilam Industries India IPO Timeline
Manilam Industries India IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 20-Feb-2026 | 0.00 | 0.35 | 0.30 | 0.23 |
| 23-Feb-2026 | 0.12 | 3.37 | 2.01 | 1.76 |
| 24-Feb-2026 | 2.24 | 12.49 | 5.88 | 6.25 |
Last Updated: 24 February 2026 6:04 PM by 5paisa
Manilam Industries India Limited manufactures and sells decorative laminates and plywood. The company offers diverse laminate collections for residential and commercial use and trades plywood in various grades and sizes. Its 20,650 sq. mtr. manufacturing plant in Bareilly operates on a B2B model, serving distributors directly. Experience Centres in Bangalore, Delhi, and Chennai provide product displays, expert guidance, and order fulfilment. The company has a workforce of 152, including contract staff.
Established in: 2015
Managing Director: Umesh Kumar Nemani and Manoj Kumar Agrawal
Peers:
Archidply Industries Ltd
Rushil Decor Limited
Manilam Industries India Objectives
1. Capital expenditure for purchase of equipment and machineries ₹1.25 Cr.
2. Capital expenditure for purchase and installation of solar panels at the manufacturing plant ₹2.20 Cr.
3. Repayment of certain loans in full or in part ₹3.50 Cr.
4. Funding working capital requirements ₹16.65 Cr.
5. General corporate expenses
Manilam Industries IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹39.95 Cr |
| Offer For Sale | ₹7.53 Cr |
| Fresh Issue | ₹32.42 Cr |
Manilam Industries IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 4000 | 2,60,000 |
| Retail (Max) | 2 | 4000 | 2,76,000 |
| S-HNI (Min) | 3 | 6000 | 3,90,000 |
| S-HNI (Max) | 7 | 14000 | 9,66,000 |
| HNI (Min) | 8 | 16000 | 10,40,000 |
Manilam Industries IPO Reservation
| Investors Category | Subscription (times) | Shares Offered* | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| QIB (Ex Anchor) | 2.24 | 11,04,000 | 24,68,000 | 17.029 |
| Non-Institutional Buyers | 12.49 | 8,28,000 | 1,03,40,000 | 71.346 |
| BNII | 14.16 | 5,52,000 | 78,16,000 | 53.930 |
| SNII | 9.14 | 2,76,000 | 25,24,000 | 17.416 |
| Individual Investors (IND category bidding for 2 Lots) | 5.88 | 19,28,000 | 1,13,36,000 | 78.218 |
| Total** | 6.25 | 38,60,000 | 2,41,44,000 | 166.594 |
*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Revenue | 148.10 | 137.90 | 140.02 |
| EBITDA | 9.01 | 14.06 | 17.63 |
| PAT | 1.53 | 3.10 | 7.38 |
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Total Assets | 133.55 | 149.56 | 158.98 |
| Share Capital | 2.30 | 2.30 | 2.30 |
| Total Liabilities | 60.75 | 73.49 | 62.44 |
| Cash Flows (₹ Crores) | FY23 | FY24 | FY25 |
| Net Cash Generated From / (used in) Operating Activities | -2.87 | - 4.19 | 16.50 |
| Net Cash Generated From / (used in) Investing Activities | -5.10 | - 1.22 | 0.81 |
| Net Cash Generated From / (used in) Financing Activities | 7.84 | 5.60 | - 17.34 |
| Net Increase (Decrease) in Cash and Cash Equivalents | 0.0091 | 0.19 | 0.16 |
Strengths
1. Wide distribution network with 50+ distributors, 7,000+ dealers, and partnerships with 3,000+ carpenters and 500+ architects.
2. Diverse product portfolio of 1,000+ laminate designs and plywood options for residential and commercial segments.
3. Strong operational performance with EBITDA rising from ₹9.73 Cr to ₹19.77 Cr and PAT margin improving from 1.03% to 5.19%.
4. Improved return ratios (ROCE 9.27% → 17.10%, ROE 6.66% → 24.46%) and reduced financial risk (Debt-Equity 2.78 → 1.84).
Weaknesses
1. Inconsistent revenue growth with total income fluctuating between ₹138–149 Cr over three years.
2. Past negative operating cash flows indicate liquidity stress before turning positive in FY2025.
3. Limited debt servicing cushion with interest coverage at 2.57x.
4. High reliance on short-term borrowings (₹49–53 Cr) for working capital needs.
Opportunities
1. Positive cash flows (₹16.50 Cr) enable reinvestment in capacity expansion and technology upgrades.
2. Rising demand in construction, interiors, and furniture boosts premium laminate and plywood segments.
3. Expansion into eco-friendly laminates and digital sales channels can strengthen market reach.
4. Declining long-term borrowings offer scope to deleverage and optimize capital structure.
Threats
1. Revenue sensitive to demand cycles and competitive pressures.
2. Rising finance costs increase vulnerability to interest rate fluctuations.
3. Raw material price volatility and working capital dependence may pressure margins.
4. Substitution from PVC panels and engineered wood and stricter environmental regulations could impact market share.
1. Strong manufacturing capabilities with BIS-compliant products and OCTA technology ensuring durability and precision.
2. Extensive portfolio of 1,000+ laminate designs and multiple plywood options catering to residential and commercial demand.
3. Robust pan-India distribution network with 50+ distributors and 7,000+ dealers enabling wide market access.
4. Deep industry integration through partnerships with 3,000+ carpenters and 500+ architects, strengthening brand trust and execution.
1. Government policies and budgetary measures are boosting infrastructure spending, stimulating demand and investment.
2. National Infrastructure Pipeline and PM Gati Shakti plans are transforming logistics and industrial production, driving growth across sectors.
3. Production Linked Incentive (PLI) scheme encourages domestic manufacturing and private investment, supporting industrial expansion.
4. Rising domestic consumption and strong middle-class demand are fueling steady growth in construction-related products.
5. Rapid urbanization is increasing demand for housing, utilities, and smart city infrastructure, benefiting building materials.
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FAQs
Manilam Industries IPO opens from February 20, 2026 to February 24, 2026.
The size of Manilam Industries IPO is approximately ₹39.95 crore.
The price band of Manilam IndustriesI PO is fixed at ₹65 to ₹69 per share.
To apply for Manilam Industries IPO, follow the steps given below:
● Login to your 5paisa demat account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Manilam Industries IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size is 4000 shares, requiring an investment of approximately ₹2,60,000.
The share allotment date of Manilam Industries IPO is February 25, 2026.
The Manilam Industries IPO will likely be listed on February 27, 2026.
NEXGEN Financial Solutions Pvt. Ltd. is the book-running lead manager.
1. Investment in equipment and machinery ₹1.25 Cr.
2. Installation of solar panels at the manufacturing facility ₹2.20 Cr.
3. Repayment of selected borrowings ₹3.50 Cr.
4. Provision for working capital needs ₹16.65 Cr.
5. Allocation towards general corporate purposes