Manika Plastech IPO Announces:
Manika Plastech Limited has announced its Draft Red Herring Prospectus (DRHP) for an upcoming Initial Public Offering (IPO). This IPO consists of a fresh issue of equity shares aggregating up to 11.5 crore. This article provides a comprehensive overview of Manika Plastech, its business model, and the details of the IPO offering.
Company Overview
Manika Plastech Limited is a design-led rigid polymer packaging manufacturer serving industries such as energy storage, dairy, paints, and chemicals. The company holds 36 registered unique intellectual property designs. Their product range includes battery casings, pails, and thinwall containers, catering to diverse applications in the automotive, telecommunications, and food sectors, among others. Manika Plastech offers end-to-end solutions, from design to delivery, providing customized packaging solutions aligned with industry standards.
The company has a diversified customer base across India and strategically locates its facilities near key clients for efficient sourcing and logistics. Battery casings constituted a significant portion of revenue for the nine months ended December 31, 2024, and Pails & Thinwall Containers accounted for another substantial portion.
Key Achievements
Manika Plastech has demonstrated consistent growth and strong financial performance. Some notable achievements include:
- Return on Equity (ROE) of 10.70% in FY24.
- Return on Capital Employed (ROCE) of 8.91% in FY24.
- Net Cash from Operating Activities to EBITDA Ratio stood at 1.14 in FY24, highest among peers.
Financial Overview ( in Crores)
Here’s a snapshot of Manika Plastech’s financial performance for the most recent fiscal year:
| Particulars | 31 Mar 2024 |
|---|---|
| Total Assets | 252.22 |
| Revenue | 360.77 |
| Profit After Tax | 11.55 |
| Net Worth | 107.85 |
| Total Borrowings | 93.06 |
Offer for Sale and IPO Structure
The IPO includes a fresh issue of equity shares aggregating up to 11.5 crore and an Offer for Sale of up to 15,000,000 equity shares by VRIDAA Holding Trust.
The allocation of shares for different investor categories is as follows:
- Retail Investors: 35%
- Qualified Institutional Buyers (QIB): 50%
- Non-Institutional Investors (NII): 15%
The shares are proposed to be listed on both the BSE and NSE.
Lead Managers and Registrar
The lead manager for the Manika Plastech Limited IPO is Pantomath Capital Advisors Private Limited. The registrar is MUFG Intime India Private Limited.
Conclusion
Manika Plastech Limited’s upcoming IPO presents an exciting opportunity for investors. With a strong business model, proven financial performance, and strategic growth plans, the company is well-positioned for future success. Stay tuned for updates on the IPO date and further details on how to participate in this offering.