Manika Plastech shares list at par with IPO issue price on NSE, BSE

The listing is at par with the IPO issue price of ₹43 per share.

Manika Plastech share price: Here's how much investors made per lot

A lot consisted of 348 shares and cost ₹14,964. Investors who received Manika Plastech IPO allotment made no gains or losses, as per the listing price on the NSE.

The ₹125.50 crore IPO was a fresh issue worth ₹92.5 crore and an offer for sale (OFS) component of up to 7,674,418 equity shares totalling ₹33 crore by promoter VRIDAA Holding Trust.

The money generated will be utilised for capital expenditure needs towards the purchase of plant and machinery, debt clearance and corporate general purposes.

"The offer is being undertaken to achieve the benefit of listing of the equity shares on the stock exchanges, enhancement of our company’s visibility amongst our existing and potential customers and creation of a public market for the equity shares in India," the firm said in its red herring prospectus.

The initial share sale was booked 28.14 times, with bids for 60,189,384,000 shares against 21,386,919 shares on offer, as per the data available with the NSE website.

The category for non-institutional investors was booked 63.09 times, and the quota for retail investors received 22.72 times subscription. The portion for qualified institutional buyers was booked 10.94 times.

Before the IPO, the company raised ₹37.65 crore from anchor investors, including The Wealth Company Alternates Trust-Bharat Value Fund-Series III, TRUSTMF Multi Cap Fund, and Finavenue Capital Trust - Finavenue Growth Fund, among others.

Manika Plastech is a design-led, precision-engineered, rigid polymer packaging manufacturing company, catering to diversified critical industries such as energy storage, paints, chemicals, dairy and edible food products.