Manilam Industries IPO opens Feb 20: Check price band, lot size, objectives and key dates

Manilam Industries IPO: The initial public offering of laminates manufacturer Manilam Industries India will open for subscription on Friday, February 20. The issue will end on February 24. The price band has been fixed at ₹65 to ₹69 per share.

The ₹39.95 crore initial share sale is a fresh issuance of ₹32.42 crore and an offer for sale (OFS) component of ₹7.53 crore by Sanjay Kumar Agarwal, Hitesh Kumar Agarwal, Rajesh Kumar Agarwal and Yogesh Kumar Agarwal.

The net proceeds from the issue will be utilised for capital expenditure needs, working capital requirements, repayment of certain loans availed by the company and corporate general purposes.

"Our company believes that listing will enhance our company's corporate image, brand name, and create a public market for its equity shares in India," the firm said in its red herring prospectus (RHP).

Manilam Industries IPO lot size

An application consists of 2,000 shares. Individual investors could apply for a minimum of two lots or 4,000 shares.

Manilam Industries IPO: Allotment and listing date

• Subscription period: February 20 to February 24
• Basis of allotment: February 25
• Refund initiation: February 26
• Credit of shares to Demat account: February 26
• Listing date: February 27

Nexgen Financial Solution is the issue's merchant banker, while Mas Services is the registrar. Nikunj Stock Brokers is the market maker. The company's shares will be listed on the SME platform of the National Stock Exchange (NSE), Emerge.

Manilam Industries India is into the manufacturing and sale of decorative laminates in various thicknesses ranging from 0.7 mm to 1 mm. It has manufactured and launched various laminate product collections, including the Vogue Collection, the Dwar Collection, the Artistica Collection and the Magnificent Collection. It also trades in plywood.

Marketing its products under the brand name 'Manilam', the company offers more than 1,000 design options and 100 textures across its product categories.