Minimum Investment
About Company
Company Name: Manilam Industries India Limited
Industry / Sector: Manufacturing / Decorative Laminates & Plywood
Founded Year: 2015
Promoters: Manilam Retail India Private Limited, Mr. Umesh Kumar Nemani, Mr. Manoj Kumar Agrawal, Mr. Aman Kumar Nemani
Manilam Industries India Limited is engaged in the manufacturing and sale of Decorative Laminates and Plywood. The company has developed and launched several laminate collections including Artistica Collection, Vogue Collection, Dwar Collection, Magnificent Collection, Chromatic Tales, Flute, ECP, Wood & Veneer, and Wall Cladding. These collections cater to residential and commercial applications with a wide range of designs and finishes. In addition to laminates, the company trades plywood in different grades and sizes, primarily for industrial and commercial sectors. The manufacturing plant is located at Village Manda, Bhojipura Nainital Road, Bareilly, Uttar Pradesh, covering 20,650 square meters. It operates on a B2B model with distributors placing orders directly. Experience Centres are established in major cities including Bangalore, Delhi, and Chennai (integrated with Service Depots in Bangalore and Chennai for display, stock, dispatch, and customer interaction). As of February 10, 2026, the company employed 152 individuals (including third-party contract workers).
IPO Basic Details
| Company Name | Manilam Industries India Limited |
| IPO Type | SME IPO |
| Price Band | ₹65 – ₹69 |
| Lot Size | 2000 |
| Total Issue Size | ₹39.95 Cr (57,90,000 shares) |
IPO Strengths & Risks
Strengths
- Diverse laminate collections catering to residential & commercial needs
- Integrated Experience Centres + Service Depots for efficient customer service
- Strong distributor network
- Manufacturing plant in Bareilly with significant area
Risks
- Raw material price volatility
- Competition in laminates/plywood sector
- Regional focus & dependence on distributors
- Working capital intensive
- Economic sensitivity in construction/furniture sectors
IPO Important Dates
| IPO Open Date | 20 Feb 2026 |
| IPO Close Date | 24 Feb 2026 |
| Basis of Allotment | 25 Feb 2026 |
| Refund Initiation | 26 Feb 2026 |
| Demat Credit Date | 26 Feb 2026 |
| Listing Date | 27 Feb 2026 |
| Anchor Investor Date | - |
| UPI Mandate Deadline | - |
IPO Objectives
- Capital expenditure for machinery and equipment – -
- Funding working capital requirements – -
- Debt repayment – -
- General corporate purposes – ₹4.82 Cr
Investor Reservation
| QIB Quota | 47.36% (27,42,000 shares; Anchor 28.29% / 16,38,000 shares; QIB ex-anchor 19.07% / 11,04,000 shares) |
| Retail Quota | 33.30% (19,28,000 shares) |
| HNI Quota | 14.30% (8,28,000 shares; bNII 9.53% / 5,52,000 shares; sNII 4.77% / 2,76,000 shares) |
| Employee Quota | - |
| Shareholder Quota | - |
| Anchor Investor Allocation | - |
Market Lot Details
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 lots | 4000 | ₹2,76,000 |
| Retail Maximum | 2 lots | 4000 | ₹2,76,000 |
| S-HNI Minimum | 3 lots | 6000 | ₹4,14,000 |
| S-HNI Maximum | 7 lots | 14000 | ₹9,66,000 |
| B-HNI Minimum | 8 lots | 16000 | ₹11,04,000 |
Key Performance Indicators (KPI)
| ROE | 8.35% (Sep 30, 2025) / 24.80% (Mar 31, 2025) |
| ROCE | 13.50% (Sep 30, 2025) / 36.68% (Mar 31, 2025) |
| RoNW | - |
| PAT Margin | 5.33% (Sep 30, 2025) / 5.33% (Mar 31, 2025) |
| EBITDA Margin | 14.39% (Sep 30, 2025) / 12.67% (Mar 31, 2025) |
| EPS | ₹4.30 (pre-IPO) / ₹2.89 (post-IPO) |
| NAV per share | - |
| Debt to Equity | - |
| P/E Ratio | 16.04x (pre-IPO) / 23.85x (post-IPO) |
| Industry P/E | - |
Company Financial Data
| Period | Assets | Total Income | PAT | EBITDA | Net Worth | Borrowings |
|---|---|---|---|---|---|---|
| 31 Mar 2023 | ₹133.55 Cr | ₹148.82 Cr | ₹1.53 Cr | ₹9.12 Cr | ₹23.24 Cr | ₹60.75 Cr |
| 31 Mar 2024 | ₹149.56 Cr | ₹138.04 Cr | ₹3.10 Cr | ₹14.18 Cr | ₹26.38 Cr | ₹73.49 Cr |
| 31 Mar 2025 | ₹158.98 Cr | ₹142.16 Cr | ₹7.38 Cr | ₹17.75 Cr | ₹33.87 Cr | ₹62.44 Cr |
| 30 Sep 2025 | ₹159.99 Cr | ₹60.53 Cr | ₹3.16 Cr | ₹8.67 Cr | ₹43.08 Cr | ₹58.05 Cr |
Grey Market Premium
| GMP Price | Not mentioned / muted (pre-listing data limited) |
| Kostak Rate | N/A |
| Subject to Sauda | N/A |
| Last Updated | Feb 2026 |
| Estimated Listing Price | N/A (actual listing performance: listed at ₹55.20, -23.99% discount from ₹69 issue price) |
IPO Subscription Data
| Total Subscription | 6.25x (final on close, Feb 24, 2026 18:55 IST) |
| QIB (Ex Anchor) | 2.24x (final) |
| HNI Subscription | 12.49x |
| Retail Subscription | 5.88x |
| Anchor | - |
IPO Intermediaries
Registrar: Not explicitly mentioned (typical BSE SME: Bigshare/Skyline/Maashitla)
Registrar Website: N/A
IPO Lead Manager(s)
Company Information
Address: 46 B. B. Ganguly Street 5th Floor, Room No-9 Kolkata, West Bengal, 700012
Website: https://www.manilam.com/
Email: info@manilam.com
Phone: 03335076903
IPO Documents
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