Manika Plastech closes USD 17m mainboard IPO in India

Indian rigid-plastic packaging maker Manika Plastech has closed its mainboard initial public offering, raising USD 17m through a subscription window that ran from 11 to 16 September 2026. Shares were priced between USD 0.54 and USD 0.58, combining a USD 12.6m fresh issue with a USD 4.48m offer for sale by existing shareholders, ahead of a market debut scheduled for 21 September 2026.

Why this mattersThe listing gives a mid-sized Indian rigid-plastics converter fresh capital to expand capacity and cut debt as automotive and food-grade packaging demand grows.

• IPO raised USD 17m in total
• Subscription window ran 11-16 September 2026, shares priced USD 0.54-0.58
• USD 12.6m fresh issue plus USD 4.48m offer for sale by existing shareholders
• Share allocation: 50% qualified institutional buyers, 35% retail, 15% non-institutional
• USD 7.46m of proceeds earmarked for new plant and machinery, USD 2.04m for debt prepayment
• Market debut scheduled for 21 September 2026

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