Manilam Industries India Ltd (NSE SME)

NSE - SMELive

Min. Investment

₹1,38,000

/ 2000 Shares

Issue Price

₹65 - ₹69

Subscription

2.03x

Issue Size

39.95

Lot Size

2000

Open

Feb 20, 2026

Feb 24, 2026

Allotment

Feb 25, 2026

Listing

Feb 27, 2026

1. Manilam Industries India Ltd (NSE SME) IPO Details

Manilam Industries India Ltd IPO is a book-built issue of ₹40.00 crores. The issue consists of a fresh issue of 46,98,000 shares and an offer for sale (OFS) of 10,92,000 shares.

The bidding for the IPO starts on Feb 20, 2026 and ends on Feb 24, 2026. The allotment for the IPO is expected to be finalized on Feb 25, 2026. Manilam Industries India Ltd will list on NSE SME, with a tentative listing date fixed as Feb 27, 2026.

The price band is set at ₹65-69 per share. The lot size for an application is 2,000 shares. The minimum amount of investment required by a retail investor is ₹1,38,000 (2,000 shares / 1 lot). The minimum lot size for investment in HNI (S-NII) is 2 lots (4,000 shares), amounting to ₹2,76,000.

Grey Market Premium

Estimated listing gains (Live)

₹0

NO PREMIUM

Updated real-time from market sources

Subscription Status

Live bidding data for Manilam Industries India Ltd (NSE SME)

Category	Times Subscribed
HNIs (10L+)	92x
HNIs (3-10L)	46x
Individual	482x

Manilam Industries India Ltd (NSE SME) IPO Details

Total Issue Size	57,90,000shares (aggregating up to ₹39.95 Cr)
Fresh Issue	46,98,000 shares (aggregating up to ₹32.42 Cr)
Offer For Sale	10,92,000 shares (aggregating up to ₹7.53 Cr)
Face Value	₹10/- Per Share
Issue Type	Bookbuilding IPO
Listing At	NSE SME
Share Holding Pre Issue	1,71,50,000 shares
Share Holding Post Issue	2,18,48,000 shares
Reserved for Market Maker	2,92,000 shares (aggregating up to ₹2.0148 Cr)
Market Maker	Nikunj Stock Brokers Limited

IPO Lot Size

Category	Lot(s)	Qty	Amount	Reserved
INDIVIDUAL	2	4000	276000	482
sHNI	3	6000	414000	46
bHNI	8	16000	1104000	92

IPO Subscription Status

Category	Reserved	Applied	Times
HNIs (10L+)	92	138	1.5
HNIs (3-10L)	46	124	2.7
Individual	482	977	2.03

IPO Reservation

Category	Offered	Applied	Times
QIB	1104000	134000	0.12
HNIs	828000	3082000	3.72
bHNI	552000	2336000	4.23
sHNI	276000	746000	2.7
Individual	1928000	3908000	2.03
Total	3860000	7124000	1.85

IPO GMP Details

Price	₹65 - ₹69
GMP Rumors *	₹0
Lot size	2000
Issue size	₹39.95 cr
Allotment	Feb 25, 2026
Listing	Feb 27, 2026

Financial Summary

Period Ended	Sep-25	Mar-25	Mar-24	Mar-23
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	3.1	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

Peer Comparison & Valuation

KPI	Sep-25	Mar-25	Mar-24	Mar-23
ROE	8.22%	24.46%	12.46%	6.76%
ROCE	13.42%	34.58%	24.10%	15.37%
EPS (BASIC)	1.85	4.58	1.93	0.95
P/E PRE IPO		16.04
P/E POST IPO	23.85

2. About Manilam Industries India Ltd (NSE SME)

Incorporated in 2015 and headquartered in Kolkata, Manilam Industries is a leading manufacturer of decorative laminates and wood products. The company operates a state-of-the-art manufacturing facility in Bareilly, Uttar Pradesh, and markets its products under the established brand name"Manilam".

Business Verticals

Decorative Laminates: Manufacturing a vast range of laminates with thicknesses from 0.7mm to 1.0mm, featuring over 1,000 designs and 100 textures.
Plywood Products: Trading and manufacturing various grades of plywood for residential and commercial use.
Specialized Collections: Premium ranges including the Artistica, Vogue, Dwar, and Magnificent collections.
Exterior Solutions: Offering high-durability exterior grade wall claddings.

Business Model

The company follows a robust B2B model, distributing products through a pan-India network of distributors and dealers. They have established dedicated Experience Centres in major hubs like Bengaluru, Delhi, and Chennai to showcase their range to architects and interior designers.

Track Record

Production Scale: Increased capacity to over 5 million sheets per year.
Revenue Growth: Total income rose to ₹142.16 Cr in FY25.
Profitability: Reported a PAT of ₹7.38 Cr in FY25, a significant jump from ₹3.10 Cr in FY24.
Financial Health: Strong Return on Equity (ROE) of 24.80% and ROCE of 36.68%.

Manilam Industries India Ltd IPO GMP

To check the latest Manilam Industries India Ltd IPO GMP today and live grey market premium updates, visit our dedicated GMP tracking page: Check Latest IPO GMP Here

Note: GMP is an unofficial indicator. With the laminate sector seeing steady demand due to the real estate boom, the grey market sentiment for Manilam is currently being monitored closely by SME investors.

Manilam Industries India Ltd IPO Allotment Status

The allotment process is scheduled for completion on Feb 25, 2026.

Check Manilam Industries Allotment Status To check your status online, visit: Check IPO Allotment Status Here

You can check your status through:

Registrar's website (MAS Services Limited)
NSE official portal
Using your PAN number or Application number

Strengths

Diverse Product Portfolio: Offers a massive range of designs (1,000+) and textures (100+) catering to varied aesthetic needs.
Technological Edge: Uses advanced OCTA technology and precision machinery for consistent quality and warp-resistance.
Brand Visibility: "Manilam" is a recognized name in the wood-panel industry with dedicated experience centers.
Improving Margins: Demonstrated a sharp 138% increase in PAT in the last fiscal year.

Weakness

Raw Material Pricing: Susceptible to fluctuations in the prices of timber, chemicals, and resins used in production.
Geographical Concentration: While expanding, a large portion of the manufacturing and supply chain is concentrated in Northern India.
Competitive Landscape: Faces intense competition from both large listed players (like Greenlam, Century Ply) and unorganized local manufacturers.
Capital Intensive: Requires significant working capital to maintain the wide variety of designs in stock.

How the Company Will Use IPO Money

Manilam Industries intends to utilize the fresh issue proceeds for:

Capital Expenditure: Purchase of plant, machinery, and installation of Solar Panels at the Bareilly plant.
Debt Repayment: Repayment (full or partial) of certain outstanding loans to improve the debt-equity ratio.
Working Capital: Supporting the incremental needs of expanding production and market reach.
General Corporate Purposes: Strategic initiatives and brand-building exercises.

Manilam Industries India Ltd Lead Manager

NEXGEN Financial Solutions Private Limited

Manilam Industries India Ltd Address

Manilam Industries India Limited Address: 46, B.B. Ganguly Street, 5th Floor, Room No-9, Kolkata, West Bengal - 700012.

Phone: +91 033 3507 6903

E-mail: info@manilam.com

Website: https://www.manilam.com/

Manilam Industries Registrar

MAS Services Limited

Address: T-34, 2nd Floor, Okhla Industrial Area, Phase - II, New Delhi - 110020.

Phone: 011-26387281/82/83

Email: ipo@masserv.com

Website: https://www.masserv.com/

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