Manilam Industries IPO: Check GMP, Price Band, Subscription, and Other Details
Manilam Industries is set to launch its ₹40 crore SME IPO starting Friday, with the subscription period closing on February 24. Investors can expect the company’s shares to list on the NSE SME platform on February 27. As of now, the grey market premium (GMP) is at 0%, indicating tempered expectations for quick listing gains.
Key IPO Details
– IPO Size: ₹40 crore
– Subscription Dates: Opens on February 24 and closes on February 24
– Listing Date: Scheduled for February 27
– Grey Market Premium (GMP): 0%
Share and Price Band
– Total Shares Offered:
– Fresh issue: 0.47 crore shares worth ₹32.42 crore
– Offer for Sale: 0.11 crore shares aggregating to ₹7.53 crore
– Price Band: ₹65 to ₹69 per share
– Lot Size: 2,000 shares
Anchor Investors and Allocation
Ahead of the IPO, Manilam Industries secured ₹11.30 crore from anchor investors by allocating 16.38 lakh shares on February 19. The allocation of the total issue is structured as follows:
– Qualified Institutional Buyers: 47.36%
– Non-Institutional Investors: 14.30%
– Retail Investors: 33.30%
About Manilam Industries
Founded in 2015, Manilam Industries specializes in manufacturing and selling decorative laminates and trading plywood. The company operates a manufacturing facility of 20,650 square meters in Bareilly, Uttar Pradesh, and follows a business-to-business model by supplying products to distributors in residential and commercial markets.
Product Offerings
Manilam has introduced various laminate collections, including:
– Artistica
– Vogue
– Dwar
– Magnificent
– Newer offerings such as Chromatic Tales and Wall Cladding
The company has also established experience centers in key cities like Bangalore, Delhi, and Chennai to enhance brand presence and engage with distributors.
Financial Performance
On the financial front, Manilam Industries reported:
– Total Income:
– FY25: ₹142.16 crore
– FY24: ₹138.04 crore
– FY23: ₹148.82 crore
– Profit After Tax (PAT):
– FY25: ₹7.38 crore
– FY24: ₹3.10 crore
– FY23: ₹1.53 crore
Usage of IPO Proceeds
The fresh issue proceeds will be allocated as follows:
– Working Capital: ₹16.65 crore
– Loan Repayment: ₹3.50 crore
– Capital Expenditure: ₹3.45 crore
Conclusion
The Manilam Industries IPO showcases an exciting opportunity for investors looking to tap into the decorative laminates market. With a clear pricing structure and strategic use of proceeds, the IPO could be a lucrative venture, albeit with subdued short-term expectations reflected in its current grey market performance. Stay informed for updates on the subscription status, share allotment dates, and potential listing developments.