Manilam Industries share price made a weak debut on NSE SME today. Manilam Industries share price today opened at ₹55.20, which is 20% lower than the issue price of ₹69.
The initial public offering () of Manilam Industries had a subscription period that ran from Friday, February 20, until Tuesday, February 24. With a face value of ₹10, shares in the Manilam Industries IPO are priced between ₹65 and ₹69. At least 2000 of those shares are up for bid, and there are multiples of those shares available. Manilam Industries IPO subscription status was 6.25 times on the last day of bidding, according to chittorgarh.com
Founded in 2015, Manilam Industries India Limited specializes in manufacturing and selling Decorative Laminates and Plywood.
The company has created and launched numerous laminate collections, including the Artistica Collection, the Vogue Collection, the Dwar Collection, and the Magnificent Collection. To meet market needs and feedback from distributors, they have also rolled out additional collections such as Chromatic Tales, Flute, ECP, Wood & Veneer, and Wall Cladding. These collections are designed for both residential and commercial use, offering a broad array of designs and finishes.
Besides laminates, the company also trades plywood in various grades and sizes, primarily targeting the industrial and commercial sectors.
The manufacturing facility of the company is situated at Village Manda, along Bhojipura Nainital Road in Bareilly, Uttar Pradesh, encompassing a total area of 20,650 square meters. It functions on a business-to-business (B2B) framework, where distributors of all sizes can place orders directly with the manufacturing facility.
Manilam Industries IPO details
The company aims to raise ₹40 crore through a public offering of 57.9 lakh shares, which includes a fresh issue of 46.98 lakh shares and an of 10.92 lakh shares.
The company intends to allocate ₹1.25 crore for the acquisition of equipment and machinery, ₹2.20 crore for the installation of solar panels at its manufacturing facility, ₹3.50 crore for repaying loans, ₹16.65 crore for working capital, and the remainder for general corporate needs.
NEXGEN Financial Solutions Pvt. Ltd. serves as the lead manager for the book running, while MAS Services Ltd. is the issue’s registrar. Nikunj Stock Brokers Ltd. acts as the Market Maker for the company.
Manilam Industries IPO GMP today
Manilam Industries IPO GMP today was ₹0, which meant shares were trading at their issue price of ₹69 with no premium or discount in the grey market, according to investorgain.com.
” indicates investors’ readiness to pay more than the issue price.
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