Manilam Industries India is entering the public markets through SME IPO with an issue size of ₹39.95 crore. The issue consists of a fresh issue of ₹32.42 crore and an offer for sale of ₹7.53 crore. The shares are proposed to be listed on NSE & SME.
The IPO subscription window opens on February 20, 2026 and will remain open until February 24, 2026. The company plans to list its shares on February 27, 2026. Being an SME IPO, the issue may appeal to investors familiar with lower liquidity listings.
Manilam Industries India Limited IPO Timeline
IPO Quick Facts
This section covers the main IPO details of Manilam Industries India that investors generally review before applying.
IPO Details at a Glance
| Company Name | Manilam Industries India |
|---|---|
| IPO Segment | SME |
| Sale Type | Fresh Issue + Offer For Sale |
| Issue Type | Bookbuilding IPO |
| Price | ₹65 – ₹69 Per Share |
| Lot Size | 2,000 Shares |
| Face Value | ₹10 Per Share |
| Exchange | NSE & SME |
IPO Documents
| RHP | DRHP |
|---|---|
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Investor Category & Share Allocation
| Investor Category | Shares Offered | % of Issue |
|---|---|---|
| Market Maker | 292,000 | 5.04% |
| Qualified Institutional Buyers (QIB) | 2,742,000 | 47.36% |
| — Anchor Investor | 1,638,000 | 28.29% |
| — QIB (Ex Anchor) | 1,104,000 | 19.07% |
| NII (HNI) | 828,000 | 14.30% |
| — bNII > ₹10L | 552,000 | 9.53% |
| — sNII < ₹10L | 276,000 | 4.77% |
| Retail | 1,928,000 | 33.30% |
| Total Shares Offered | 5,790,000 | 100.00% |
Manilam Industries India IPO Important Dates
The following table highlights the key dates for the Manilam Industries India IPO, covering the subscription period and the expected listing timeline.
| IPO Opening Date | 20 Feb 2026 |
|---|---|
| IPO Closing Date | 24 Feb 2026 |
| Allotment Finalization | 25 Feb 2026 |
| Initiation of Refunds | 26 Feb 2026 |
| Credit of Shares | 26 Feb 2026 |
| IPO Listing Date | 27 Feb 2026 |
Manilam Industries India IPO Size & Structure
| Total IPO Size | ₹39.95 Crore |
|---|---|
| Offer For Sale | ₹7.53 Crore |
| Fresh Issue | ₹32.42 Crore |
Manilam Industries India IPO Lot Size & Minimum Investment
The table below shows the lot size and investment amount for the Manilam Industries India IPO, calculated using the cut-off price. The price band for this IPO ranges from ₹65 to ₹69 per share.
Investors can apply for the IPO with a minimum of 2000 shares. Applications must be made in multiples of 2000 shares.
- Retail investors can apply from 2 lot to 2 lots.
- Small HNI (SHNI) investors must apply for at least 3 lots.
- Big HNI (BHNI) investors need to apply for a minimum of 8 lots.
This information helps investors understand the minimum investment required before applying for the IPO.
Note: Retail investors generally apply at the cut-off price, which is ₹69 per share.
| Category | Lots | Shares | Price | Amount |
|---|---|---|---|---|
| Retail (Min) | 2 | 4,000 | ₹69 | ₹276,000 |
| Retail (Max) | 2 | 4,000 | ₹69 | ₹276,000 |
| S-HNI (Min) | 3 | 6,000 | ₹69 | ₹414,000 |
| S-HNI (Max) | 7 | 14,000 | ₹69 | ₹966,000 |
| B-HNI | 8 | 16,000 | ₹69 | ₹1,104,000 |
Manilam Industries India IPO GMP (Grey Market Premium)
The latest Manilam Industries India IPO GMP (Grey Market Premium), along with Kostak rates and Subject to Sauda rates, helps in understanding market sentiment. The current Manilam Industries India IPO GMP is ₹0 (0.00%), compared to the IPO issue price of ₹69. Based on the current GMP, the expected listing price is around ₹69. The Lowest GMP was ₹0 on 27 Feb 2026, while the highest GMP reached ₹0 on 27 Feb 2026.
Manilam Industries India IPO was listed on the stock exchange on 27 Feb 2026. The IPO was subscribed 5.87 times. The first reported GMP was ₹0 (0%), while the latest recorded GMP stood at ₹0 (0%).Listing Details:
- Issue Price: ₹69 per share.
- Listing Price: ₹55.20 (approx. 20% discount)
- Listing Date: 27 Feb 2026
Manilam Industries India IPO GMP Today - Trend Analysis
| Date | Issue Price (₹) | GMP Price (₹) | Estimated Gain (%) | Estimated Price (₹) | Estimated Profit (₹) |
|---|---|---|---|---|---|
| 27 Feb 2026 | ₹69 | ₹0 | 0% | ₹69 | ₹0 |
| 26 Feb 2026 | ₹69 | ₹0 | 0% | ₹69 | ₹0 |
| 25 Feb 2026 | ₹69 | ₹0 | 0% | ₹69 | ₹0 |
| 24 Feb 2026 | ₹69 | ₹0 | 0% | ₹69 | ₹0 |
| 23 Feb 2026 | ₹69 | ₹0 | 0% | ₹69 | ₹0 |
| 21 Feb 2026 | ₹69 | ₹0 | 0% | ₹69 | ₹0 |
| 20 Feb 2026 | ₹69 | ₹0 | 0% | ₹69 | ₹0 |
| 19 Feb 2026 | ₹69 | ₹0 | 0% | ₹69 | ₹0 |
| 18 Feb 2026 | ₹69 | ₹0 | 0% | ₹69 | ₹0 |
| 17 Feb 2026 | ₹69 | ₹0 | 0% | ₹69 | ₹0 |
Manilam Industries India IPO GMP gives retail and institutional investors an idea about short-term market expectations. Although grey market premium does not guarantee listing performance, it is still commonly referred to while analysing IPOs. Investors are advised to look at Manilam Industries India fundamentals along with IPO GMP data before making any investment decision.
GMP Disclaimer: GMP (Grey Market Premium) prices are unofficial and only reflect market sentiment. We neither participate in grey-market trading nor encourage it. Investors are strongly advised to review the company’s fundamentals, risks, and official documents before considering an investment in the Manilam Industries India IPO.
Manilam Industries India IPO Subscription Status
Manilam Industries India IPO was subscribed 5.87 times overall on the final day of bidding (as of 24 Feb 2026).The subscription opened on 20 Feb 2026. The Retail portion was subscribed 5.84 times, while QIB and NII categories were subscribed 2.24 times and 9.49 times respectively.
Subscription by Category (QIB, NII, Retail, Employee)
Daily Subscription Trend (Day-wise):
| Date | QIB | NII | Retail | Employee | Total |
|---|---|---|---|---|---|
| 20 Feb 2026 | — | 0.26x | 0.3x | — | 0.21x |
| 23 Feb 2026 | 0.12x | 2.75x | 2.04x | — | 1.72x |
| 24 Feb 2026 | 2.24x | 9.49x | 5.84x | — | 5.87x |
On the first day, the Manilam Industries India IPO received good initial interest, with early participation from Retail and NII investors.
Demand for the Manilam Industries India IPO strengthened further on Day-2, driven mainly by higher bids from NII, followed by Retail investors.
By the end of the bidding period, the IPO was subscribed 5.87x overall, reflecting strong demand from key investor categories, led by NII, followed by Retail and QIB investors. Overall subscription for the Manilam Industries India IPO increased from 0.21x on Day-1 to 5.87x by the final day.
Manilam Industries India IPO Final Subscription
| Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | 2.24x |
| Non-Institutional Investors (NII) | 9.49x |
| Retail Investors | 5.87x |
| Total | 5.88x |
Manilam Industries India IPO Allotment Status
The Manilam Industries India IPO allotment status was released on 25 Feb 2026. Investors who applied for the IPO can now check their Manilam Industries India allotment status online through the official registrar website and NSE / BSE portal.
- 🗓 Allotment Date: 25 Feb 2026
- 📈 Listing Date: 27 Feb 2026
How to Check Manilam Industries India IPO Allotment Status Online?
Investors can check the Manilam Industries India IPO allotment status online through MAS Services Limited and NSE websites. All platforms provide easy access to the IPO allotment details.
Just follow the below mentioned steps to check your allotment status.You can also visit
MAS Services
to know more about the IPO registrar.
Check on MAS Services Limited (IPO Registrar)
- Visit → MAS Services Limited
- The list of IPO will be displayed.
- Under IPO – Manilam Industries India Allotment Status, choose one of the two search options:
- Search on Dp_id/Client id or Search on PAN No
- Enter the relevant details and Click Search to view allotment status.
Check on NSE (National Stock Exchange) Website
- Go to → NSE Website
- Select Equity & SME IPO Bid Details.
- Choose Manilam Industries India IPO.
- Enter your PAN & Application Number.
- Click on Submit button.
The National Stock Exchange (NSE) provides an online facility to check the Manilam Industries India IPO allotment status.
Note: Allotment status is published only on the official registrar websites. We do not collect investor data or provide allotment verification directly.
How to Apply for Manilam Industries India IPO?
Login to Your Trading App
Open your trading app such as Angel One, Zerodha, Upstox, Groww or any brokerage app.
Go to the IPO Section
Navigate to the IPO section in the app, search for the IPO, and enter your bid details.
Enter Your UPI ID
Provide your UPI ID that is linked to your bank account for payment authentication.
Approve the Mandate
Open your UPI app and approve the payment mandate to block the required amount.
Application Confirmation
Application submitted successfully, the funds will remain blocked until allotment is finalized.
Manilam Industries India IPO Listing Analysis
Below is a quick summary of the Manilam Industries India IPO issue price, listing price, and listing gain on NSE.
| IPO Status | Issue Price | Listing Price | Listing Gain |
|---|---|---|---|
| Listed (NSE) | ₹69 | ₹55 | ▼ -20.00% |
Manilam Industries India made a weak debut on the stock market on 27 Feb 2026, listing at ₹55.2, which was -₹14 lower (-20.00%) than its IPO issue price of ₹69. This indicated a negative listing sentiment, and IPO investors faced an immediate notional loss on debut.
Selling pressure continued throughout the session, and the stock slipped further by -4.98% from the listing price, closing at ₹52.45. From the IPO issue price, this translated into a total decline of -₹17 per share (-23.99%) by the end of the day.
For investors who were allotted one lot of 2000 shares, the investment of ₹138,000 reduced to ₹104,900. Investors booked an overall loss of -₹33,100 per lot on the listing day.
📌 IPO Issue Price and Lot Size
The IPO of Manilam Industries India was offered in the price band of ₹65 to ₹69 per share.
- The final issue price was fixed at ₹69.
- One lot consisted of 2000 shares.
- Minimum investment: ₹69 × 2000 = ₹138,000
- Investment after Day-1: ₹52.45 × 2000 = ₹104,900
- By the end of the listing session, investors faced a loss of -₹33,100 per lot.
📌 IPO Subscription Analysis
Despite moderate overall demand of 5.87× and QIB subscription of 2.24×, the IPO struggled on debut. The stock listed at -20.00% and closed at -23.99%, reflecting limited market confidence.
| Day | QIB | NNI | Retail | Total |
|---|---|---|---|---|
| Day 1 | 0x | 0.26x | 0.3x | 0.21x |
| Day 2 | 0.12x | 2.75x | 2.04x | 1.72x |
| Day 3 | 2.24x | 9.49x | 5.84x | 5.87x |
📌 Final Assessment
Overall Outcome: Below Expectations IPO
- Subscription Phase: Moderate investor participation
- Listing Phase: Weak listing performance
- Investor Experience: Negative short-term experience
About Manilam Industries India Limited
Manilam Industries India offers a wide range of products, including over 1,000 laminate designs and various plywood options, catering to residential, commercial, and industrial spaces.
They have established a distribution network which ensures that their products are available in multiple regions, improving supply chain efficiency and product accessibility for architects, interior designers, and homeowners.
IPO Financial Summary
- Total Assets changed by 6.3% in FY 2024-2025.
- Total Revenue changed by 2.98% in FY 2024-2025.
- Profit After Tax changed by 138.06% in FY 2024-2025.
- Reserves & Surplus changed by 31.1% in FY 2024-2025.
- Total Borrowings changed by -15.04% in FY 2024-2025.
| Metric | 2025-09-30 | 2025-03-31 | 2024-03-31 | 2023-03-31 |
|---|---|---|---|---|
| Total Assets (₹ Cr) | 159.99 | 158.98 | 149.56 | 133.55 |
| Total Revenue (₹ Cr) | 60.53 | 142.16 | 138.04 | 148.82 |
| Profit After Tax (₹ Cr) | 3.16 | 7.38 | 3.10 | 1.53 |
| Reserves & Surplus (₹ Cr) | 25.93 | 31.57 | 24.08 | 20.94 |
| Total Borrowings (₹ Cr) | 58.05 | 62.44 | 73.49 | 60.75 |
Utilisation of Proceeds
The Company proposes to utilise the net IPO proceeds of approximately ₹23.60 crore towards the following objectives:
| # | Purpose | Amount (₹ Cr) | % of Total |
|---|---|---|---|
| 1 | A. Capital Expenditure - Purchase of equipment/machinery of the Company. B. Capital Expenditure - Purchase and installation of Solar Panel Panels at the manufacturing plant. | 1.25 | 5.30% |
| 2 | Repayment in full or in part, of certain loans availed by the Company | 2.20 | 9.32% |
| 3 | Working Capital Requirements of the Company | 3.50 | 14.83% |
| 4 | General Corporate Purposes | 16.65 | 70.55% |
| Total | 23.60 | 100% | |
Manilam Industries India IPO Promoter Holding
| Promoter(s) | Manilam Retail India Private Limited, Mr. Umesh Kumar Nemani, Mr. Manoj Kumar Agrawal and Mr. Aman Kumar Nemani |
|---|---|
| Pre-Issue Holding | 78.79% |
| Post-Issue Holding | 61.85% |
Manilam Industries India IPO FAQs
The Manilam Industries India IPO is a SME Bookbuilding IPO with a total issue size of ₹39.95 crore. The issue consists of a fresh issue of ₹32.42 crore and an offer for sale of ₹7.53 crore.
The IPO will open for subscription on Fri, 20 Feb 2026 and will close on Tue, 24 Feb 2026.
The shares are being offered at a price band of ₹65 to ₹69 per equity share.
Investors can apply for the IPO with a minimum lot size of 2,000 shares.
At the upper price band, the minimum investment required for one lot is approximately ₹276,000.
The shares of Manilam Industries India are expected to be listed on NSE & SME on Fri, 27 Feb 2026.
The Grey Market Premium (GMP) of Manilam Industries India IPO is ₹0.
The Manilam Industries India IPO was subscribed 5.88 times on the final day of subscription.
The retail portion is subscribed 5.84 times as of 24 Feb 2026.
The QIB portion is subscribed 2.24 times and the NII portion is subscribed 9.49 times .
The IPO registrar of Manilam Industries India is MAS Services Limited. MAS is responsible for processing IPO applications, finalizing allotment, crediting shares, and initiating refunds.
The allotment date is expected on Wed, 25 Feb 2026.
Allotment status is generally updated in the evening (6 PM – 10 PM) on Wed, 25 Feb 2026 on the registrar or exchange website.
Shares are expected to be credited by Thu, 26 Feb 2026.
Refunds for unsuccessful applicants will be initiated on Thu, 26 Feb 2026.
Investors can check refund status via:
- UPI mandate / bank account (NACH, NEFT, RTGS)
- ASBA bank portal
Manilam Industries India IPO is listed on NSE.
The latest share price of Manilam Industries India Limited is currently not available.
Recent price movement data for Manilam Industries India Limited is currently not available.
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