Manilam Industries India Limited is engaged in the manufacturing and sale of Decorative Laminates and Plywood, catering primarily to residential, commercial, and industrial interior infrastructure requirements across India.
The company operates in the organized segment of the laminates industry and follows a business-to-business (B2B) model, wherein distributors place orders directly with its manufacturing facility.
Manilam Industries India Limited offers a diversified range of decorative laminate collections catering to residential and commercial applications.
Its key collections include Artistica, Vogue, Dwar, and Magnificent, along with additional ranges such as Chromatic Tales, Flute, ECP, Wood & Veneer, and Wall Cladding—providing varied textures, finishes, and design options. Apart from laminates, the company also trades plywood in multiple grades and sizes, primarily serving industrial and commercial customers.
The company’s manufacturing plant is located at Village Manda, Bhojipura Nainital Road, Bareilly, Uttar Pradesh, spanning approximately 20,650 square meters. The facility supports large-scale laminate production, with distributor orders executed directly under its B2B model.
Manilam Industries has established Experience Centres in Bangalore, Delhi, and Chennai to enhance brand visibility and customer engagement.
As of February 10, 2026, the company employed a total of 152 individuals, including workers engaged through third-party contracts.
Manilam Industries India IPO – Details
| IPO Opening Date | 20 February 2026 |
| IPO Closing Date | 24 February 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue: 57,90,000 Shares Worth ₹39.95 Crore Fresh Issue: 46,98,000 Shares Worth ₹32.42 Crore Offer For Sale: 10,92,000 Shares Worth ₹7.53 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹65 – ₹69 per share |
| Market Lot | 2000 Shares |
| Min Order | 2000 Shares [ 1 Lot ] |
| Listing At | NSE SME |
| Registrar | MAS Services Ltd. |
| QIB Shares Offered | 50% |
| NII Shares Offered | 15% |
| Retail Shares Offered | 35% |
Manilam Industries India IPO – Date Schedule
| IPO Open Date | 20 February 2026 |
| IPO Close Date | 24 February 2026 |
| Basis of Allotment | 25 February 2026 |
| Initiation of Refund | 26 February 2026 |
| Credit of Shares to Demat | 26 February 2026 |
| IPO Listing Date | 27 February 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 24, 2026 |
Manilam Industries India IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 4000 | ₹2,76,000 |
| Retail (Max) | 2 | 4000 | ₹2,76,000 |
| S-HNI (Min) | 3 | 6000 | ₹4,14,000 |
| S-HNI (Max) | 7 | 14000 | ₹9,66,000 |
| B-HNI (Min) | 8 | 16000 | ₹11,04,000 |
Competitive Strength
- Technology Driven Business Model.
- Cordial relations with our customers.
- Quality Deliverables.
Company Promoters
- Manilam Retail India Private Limited
- Mr. Umesh Kumar Nemani
- Mr. Manoj Kumar Agrawal
- Mr. Aman Kumar Nemani
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowings |
|---|---|---|---|---|
| 31 March 2023 | ₹148.82 Cr | ₹146.64 Cr | ₹1.53 Cr | ₹60.75 Cr |
| 31 March 2024 | ₹138.04 Cr | ₹133.61 Cr | ₹3.10 Cr | ₹73.49 Cr |
| 31 March 2025 | ₹142.16 Cr | ₹131.71 Cr | ₹7.38 Cr | ₹62.44 Cr |
| 30 September 2025 | ₹60.54 Cr | ₹56.13 Cr | ₹3.16 Cr | ₹58.05 Cr |
Key Performance Indicator
| KPI | Values (Sep 30, 2025) |
|---|---|
| ROE | 8.35% |
| ROCE | 13.50% |
| RoNW | 8.35% |
| PAT Margin | 5.33% |
| EBITDA Margin | 14.39% |
| Price to Book Value | 2.75 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 4.30 | 2.89 |
| P/E (x) | 16.04 | 23.85 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Capital Expenditure – Purchase of equipment/machinery of the Company. B. Capital Expenditure – Purchase and installation of Solar Panels at the manufacturing plant. | ₹1.25 |
| Repayment in full or in part of certain loans availed by the Company. | ₹2.20 |
| Working Capital Requirements of the Company. | ₹3.50 |
| General corporate purposes. | ₹16.65 |
✅Strengths
- Integrated end-to-end apparel supply chain model.
- Strong relationships with leading e-commerce platforms.
- Diversified revenue models (Outright, PPMP, Own Brand).
- Scalable manufacturing capacity.
- Pan-India warehousing network.
- Data-driven operations & fast order fulfillment.
⚠️Risks
- High dependency on key e-commerce customers.
- Intense competition in apparel segment.
- Working capital intensive business.
- Exposure to raw material price fluctuations.
- Dependence on growth of online fashion market.
- Operational & logistics execution risks.
Manilam Industries India IPO Promoter Holding
| Pre-Issue Share Holding | 78.79% |
| Post Issue Share Holding | 61.85% |
Manilam Industries India IPO Prospectus
Company Contact Information
| Manilam Industries India Ltd. 46, B. B. Ganguly Street, 5th Floor, Room No. 9, Kolkata, West Bengal, 700012. Phone: 03335076903 Email: info@manilam.com Website: https://www.manilam.com/ |
Manilam Industries India IPO Registrar
| MAS Services Ltd. Phone: (011) 2610 4142 Email: ipo@masserv.com Website: https://www.masserv.com/opt.asp |
Manilam Industries India IPO Lead Manager(s)
| 1. NEXGEN Financial Solutions Pvt. Ltd. |
Manilam Industries India IPO FAQ
| What is the Manilam Industries India IPO? Manilam Industries India IPO is an SME IPO. The issue is priced at ₹65 – ₹69 per equity share. The IPO is to be listed on NSE SME. |
| When will Manilam Industries India IPO open? The IPO is to open on 20 February 2026 for QIB, NII, and Retail Investors. |
| What is Manilam Industries India IPO Investors’ Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Manilam Industries India IPO Size? Manilam Industries India IPO size is ₹39.95 Crore. |
| What are the Manilam Industries India IPO Minimum and Maximum Lot Sizes for Retail Investors? The minimum bid is 4000 Shares for ₹2,76,000, while the maximum bid is 4000 Shares for ₹2,76,000. |
| What is the Manilam Industries India IPO Allotment Date? Manilam Industries India IPO allotment date is 25 February 2026. |
| What is the Manilam Industries India IPO Listing Date? Manilam Industries India IPO listing date is 27 February 2026. The IPO is to be listed on the NSE SME. |
