Manika Plastech Ltd is set to launch its initial public offering on September 11, with a share price band fixed at ₹40–43. At the top end, the pricing values the company at around ₹501 crore. The IPO is aimed at raising ₹125.5 crore from investors.
The offering comprises a fresh issue of ₹92.5 crore and an Offer for Sale (OFS) of 76.74 lakh shares aggregating about ₹33 crore at the higher end, according to the reports. The company plans to use net proceeds for capital expenditure, including purchase of plant and machinery, repayment or pre-payment of certain borrowings, and general corporate purposes. Sources also note the subscription period closing on September 16, with anchor investor bidding ending on September 10.
The shares are proposed to be listed on both BSE and NSE on September 21. One outlet specifies Pantmoth Capital Advisors as the book-running lead manager and MUFG Intime India as the registrar; no other sources provided different management details in the available excerpts.
