Manilam launched its IPO to raise Rs 39.95 crore

Manilam Industries seeks to raise Rs 39.95 crore through its SME IPO to fund capital expenditure and working capital. The IPO opened for subscription on February 20, and bidding will close on February 24.

The company aims to raise Rs 39.95 crores via a combination of 0.47 crore fresh shares, amounting to Rs 32.42 crores, and an offer for sale of 0.11 crore shares, aggregating to Rs 7.53 crores. The IPO price band was set between Rs 65 and Rs 69 per equity share. The allotment for the SME IPO is expected to be finalised on February 25, while listing is likely to be on the NSE SME platform on February 27, as per the tentative schedule.

A retail applicant needs to apply for a minimum of two lots that contain 2,000 shares, each, amounting to Rs 2.76 lakh. The minimum lot size investment for a High Networth Individual is 3 lots of 6,000 shares, totalling Rs 4.14 lakh.

Lauding the initial response, the Director of the company Umesh Kumar Nemani commented, “Manilam is going to unveil a new range of laminate in FY 26-27, we are also looking for the expansion in many new verticals in the near future. He also appreciated the overwhelming interest of the investors in the recently launched IPO.   

Manilam Industries India is engaged in the manufacturing of Decorative Laminates and Plywood. The company has launched several laminate collections, including the Artistica Collection, the Vogue Collection, the Dwar Collection, and the Magnificent Collection along with additional collections such as Chromatic Tales, Flute, ECP, Wood & Veneer, and Wall Cladding.