Manilam Industries IPO 2026 – Full Review, Allotment & Listing Details
Latest Grey Market Premium & IPO Details
Manilam Industries IPO 2026 – Key Info & Highlights
The Manilam Industries SME IPO 2026 is set to open from 20th to 24th February 2026, with a total issue size of ₹37.94 crore. The IPO consists of a ₹30.40 crore fresh issue and an offer for sale of ₹7.53 crore by existing shareholders. Shares have a face value of ₹10 and a price band of ₹65–₹69. Retail investors can apply for a minimum of 2 lots, each containing 2,000 shares, totaling an investment of ₹2,76,000 per application. The IPO is expected to be listed on NSE SME on 27th February 2026.
📌 IPO Details
| Company Name | Manilam Industries IPO |
|---|---|
| Sector / Industry | Laminates & Plywood |
| IPO Open Date | 20-02-2026 |
| IPO Close Date | 24-02-2026 |
| Allotment Date | 25-02-2026 |
| Refund Date | 26-02-2026 |
| Share Credit Date | 26-02-2026 |
| Listing Date | 27-02-2026 |
| Price Band | ₹65 - ₹69 |
| Lot Size | 2000 Shares |
| Min Investment | ₹2,76,000 ( 2 lots Price ) |
| Total Issue Size | ₹39.95 Cr |
| Reserved for Market Maker | ₹2.01 Cr |
| Net Issue Size | ₹37.94 Cr |
| Fresh Issue | ₹30.40 Cr |
| OFS | ₹7.53 Cr |
| IPO Listing At | NSE SME |
| DRHP | View DRHP |
| RHP | View RHP |
| Issue Type | Book Build Issue |
| Face Value | ₹10 Per Equity Share |
| Promoter Holding Pre IPO | 78.79 % |
| Promoter Holding Post IPO | 61.85% |
| Min Small HNI Lots | ₹4,14,000 ( 3 lots Price ) |
| Min Big HNI Lots | ₹11,04,000 ( 8 lots Price ) |
* All Dates are provisional
Quota Allocation
| Category | Allocation (%) |
|---|---|
| Retail Investors | 33.30% |
| QIB (Qualified Institutional Buyers) | 19.07% |
| Anchor Investors | 28.29% |
| HNI (High Net Worth Individuals) | 14.30% |
| Reserved for Market Maker | 5.04% |
📈 Grey Market Premium (GMP) Day-wise Trend
| GMP Date | GMP Price | Trend | Estimated Listing Price | Estimated Profit* | Last Updated |
|---|---|---|---|---|---|
| 27-02-2026 | ₹0.00 | - | ₹0.00 | ₹0.00 | 27-02-2026 09:46 |
| 26-02-2026 | ₹0.00 | - | ₹0.00 | ₹0.00 | 26-02-2026 23:20 |
| 25-02-2026 | ₹0.00 | - | ₹0.00 | ₹0.00 | 25-02-2026 23:20 |
📝 About Manilam Industries
Incorporated in 2015, Manilam Industries India Limited is engaged in the manufacturing and sale of decorative laminates and plywood, catering to both residential and commercial applications. The company has developed multiple laminate collections, including the Artistica Collection, Vogue Collection, Dwar Collection, Magnificent Collection, and newer lines such as Chromatic Tales, Flute, ECP, Wood & Veneer, and Wall Cladding, offering a wide variety of designs and finishes to meet diverse customer preferences.
In addition to laminates, the company trades in plywood of various grades and sizes, primarily serving industrial and commercial sectors. Its manufacturing plant is located at Village Manda, Bhojipura Nainital Road, Bareilly, Uttar Pradesh, covering 20,650 square meters, and operates on a B2B model where distributors place orders directly with the plant.
To enhance customer experience, Manilam Industries has established Experience Centres in major cities including Bangalore, Delhi, and Chennai. In Bangalore and Chennai, the company operates integrated Service Depots with Experience Centres, offering product display, stock availability, dispatch services, and personalized guidance on colour and design combinations. This setup allows customers to view products, receive expert advice, and place orders efficiently.
The company is backed by an experienced management team and maintains a growing distribution network across India. With a focus on quality, innovation, and operational efficiency, Manilam Industries has demonstrated improving financial performance, consistent profitability, and a robust asset base.
As of the Draft Red Herring Prospectus, the company employed 149 individuals, including workers on third-party contracts, reflecting its structured operations and workforce management.
Manilam Industries India Limited combines sector expertise, diverse product offerings, and customer-centric services to strengthen its position in India’s decorative laminates and plywood industry, while leveraging its IPO proceeds for manufacturing expansion, debt repayment, working capital support, and general corporate purposes.
Manilam Industries Revised Financials
Profit / Loss & Total Assets (Last 4 Periods)
| Period Ended | Revenue (₹ Cr) | Profit / Loss (₹ Cr) | Total Assets (₹ Cr) |
|---|---|---|---|
| 31 Mar 2023 | 148.82 | +1.53 | 133.55 |
| 31 Mar 2024 | 138.04 | +3.10 | 149.56 |
| 31 Mar 2025 | 142.16 | +7.38 | 158.98 |
| 30 Sep 2025 | 60.53 | +3.16 | 159.99 |
Note: Positive figures indicate profit (PAT), Total Assets are reported in ₹ Cr. Period = Financial Year / Half-Year as mentioned. Data Source: IPO DRHP / Financial Review.
Manilam Industries India Limited – Objects of Issue
- Capital Expenditure – Equipment & Solar Panels (₹1.25 Cr) – The company will use part of the proceeds to upgrade its manufacturing operations by purchasing new machinery and equipment, and installing solar panels to improve energy efficiency.
- Repayment of Loans (₹2.20 Cr) – A portion of the funds will be used to repay existing borrowings, reducing interest costs and strengthening the balance sheet.
- Working Capital Requirements (₹3.50 Cr) – Funds will be allocated to support day-to-day business operations such as raw material purchases, inventory management, and managing receivables.
- General Corporate Purposes (₹16.65 Cr) – This includes expenses related to corporate activities, marketing, administrative costs, and other strategic growth initiatives.
Manilam Industries India Limited – Strengths
- Sector Expertise in Decorative Surfaces – The company specializes in decorative laminates and plywood, catering to furniture, interior design, and construction segments with tailored products.
- Wide Product Portfolio – Offers a diverse range of designs and finishes, meeting varied customer preferences and supporting sales across different market segments.
- Focus on Quality & Design Innovation – Consistent emphasis on quality controls, design variety, and product aesthetics enhances competitiveness in the market.
- Growing Distribution Reach – Expanding distributor and dealer network helps strengthen regional penetration and improve market visibility.
- Improving Financial Performance – Recent profitability growth and asset expansion reflect an improving financial profile supporting future business strategies.
Manilam Industries India Limited – Weaknesses / Risks
- Dependence on Raw Material Prices – Fluctuations in the cost of wood, laminates, and other raw materials could impact profitability.
- Limited Brand Recognition Outside India – The company primarily operates in India, and has limited international presence, which may constrain global growth opportunities.
- Competition from Unorganized Sector – Faces competition from smaller unorganized manufacturers who may offer lower-cost products, affecting market share.
- Regulatory & Environmental Compliance – The business depends on approvals, permits, and environmental regulations; any changes or delays could affect operations.
- Reliance on Key Customers – A significant portion of revenue comes from a few large clients; losing any major client may impact sales and profitability.
- Economic Cycles & Demand Fluctuations – The decorative laminates and plywood industry is sensitive to construction and interior design demand; slowdowns may affect revenue.
Manilam Industries India Limited
Manufacturer of Decorative Laminates & Plywood Products
| Founded in: | 27 November 2015 |
|---|---|
| MD / Managing Director: | Mr. Manoj Kumar Agrawal |
| Address: | 46, B.B. Ganguly Street, 5th Floor, Room No‑9 Kolkata, West Bengal 700012, India |
| Website: | www.manilam.com |
| Phone: | +91 (033) 3507 6903 |
| Email: | info@manilam.com |
| Products / Services: | Manufacturing & Distribution of Decorative Laminates, Plywood & Surface Solutions |
IPO Quick Info
20 Feb 2026
24 Feb 2026
Upcoming
Lead Manager(s)
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Frequently Asked Questions
Manilam Industries is a leading SME in the textile and manufacturing sector, specializing in industrial fabrics and yarn production for domestic and export markets.