The IPO comprises a fresh issue of 0.47 crore shares worth Rs 32.42 crore and an offer for sale of 0.11 crore shares aggregating to Rs 7.53 crore. The price band has been fixed at Rs 65 to Rs 69 per share, with a lot size of 2,000 shares.
Ahead of the issue opening, the company raised Rs 11.30 crore from anchor investors on February 19 by allocating 16.38 lakh shares. Of the total issue, 47.36% has been allocated to qualified institutional buyers, 14.30% to non-institutional investors and 33.30% to retail investors.
Incorporated in 2015, Manilam Industries is engaged in the manufacturing and sale of decorative laminates and in the trading of plywood. The company operates a manufacturing facility in Bareilly, Uttar Pradesh, spread across 20,650 square metres. It follows a business-to-business model, supplying products to distributors catering to residential and commercial segments.
The company has launched multiple laminate collections, including Artistica, Vogue, Dwar and Magnificent, along with newer offerings such as Chromatic Tales and Wall Cladding. It has also set up experience centres in cities such as Bangalore, Delhi and Chennai to strengthen brand presence and distributor engagement.
On the financial front, Manilam Industries reported total income of Rs 142.16 crore in FY25, compared with Rs 138.04 crore in FY24 and Rs 148.82 crore in FY23. Profit after tax stood at Rs 7.38 crore in FY25, up from Rs 3.10 crore in FY24 and Rs 1.53 crore in FY23.
The proceeds from the fresh issue will be used towards capital expenditure for purchase of machinery and installation of solar panels, repayment of certain loans, working capital requirements and general corporate purposes. Out of the net proceeds, Rs 16.65 crore has been earmarked for working capital, Rs 3.50 crore for loan repayment and Rs 3.45 crore towards capital expenditure.
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