Manas Polymers IPO

₹1,21,600/1600 shares

Minimum Investment

IPO Details

Open Date

26 Sep 25

Close Date

30 Sep 25

Minimum Investment

₹1,21,600

Lot Size

1600

Price Range

₹76 to ₹81

Listing Exchange

NSE

Issue Size

₹23.52 Cr

Listing Date

06 Oct 25

Open Free Demat Account

Manas Polymers IPO Timeline

Bidding Start

26 Sep 25

Bidding Ends

30 Sep 25

Allotment Finalisation

01 Oct 25

Refund Initiation

03 Oct 25

Demat Transfer

03 Oct 25

Listing

06 Oct 25

Manas Polymers IPO Ltd.

Incorporated in January 2024, Manas Polymers & Energies Limited manufactures high-quality, food-grade PET preforms, bottles, jars, and caps. The company is also active in renewable power generation and distribution as an independent power producer (IPP). Serving diverse sectors such as automotive, construction, packaging, agriculture, and energy, it continuously invests in research and development to deliver sustainable products that address modern industrial needs while reducing environmental impact. The company holds ISO certifications for Quality Management (ISO 9001:2015), Environmental Management (ISO 14001:2025), and Risk Management (ISO 31000:2018).

Manas Polymers IPO Overview

Manas Polymers & Energies Limited IPO is a book building issue of ₹23.52 crore, consisting entirely of a fresh issue of 0.29 crore shares. The IPO opens for subscription on 26 September 2025 and closes on 30 September 2025, with allotment expected to be finalized on 1 October 2025. The shares are planned to list on NSE SME, tentatively on 6 October 2025. The issue price band is set between ₹76 and ₹81 per share, with a lot size of 1,600 shares. Retail investors are required to invest a minimum of ₹2,59,200 for 3,200 shares at the upper price, while HNIs must apply for at least three lots (4,800 shares), amounting to ₹3,88,800. Expert Global Consultants Pvt. Ltd. is the book running lead manager, and Purva Sharegistry (India) Pvt. Ltd. is the registrar for the issue.

Manas Polymers IPO Details

Particulars	Details
IPO Date	26 September 2025 to 30 September 2025
Listing Date	6 October 2025
Face Value	₹10 per share
Issue Price Band	₹76 to ₹81 per share
Lot Size	1,600 Shares
Total Issue Size	29,04,000 shares (aggregating up to ₹23.52 Cr)
Fresh Issue	29,04,000 shares (aggregating up to ₹23.52 Cr)
Offer for Sale	NA
Issue Type	Bookbuilding IPO
Listing At	NSE SME
Share Holding Pre Issue	48,72,000 shares
Share Holding Post Issue	77,76,000 shares
Market Maker Portion	1,47,200 shares

Manas Polymers IPO Reservation

Investor Category	Shares Offered
QIB	Not more than 10.10% of the Net Issue
Retail	Not less than 65% of the Net Issue
NII (HNI)	Not more than 24.90% of the Net Issue

Manas Polymers IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	2	3,200	₹2,59,200
Retail (Max)	2	3,200	₹2,59,200
S-HNI (Min)	3	4,800	₹3,88,800
S-HNI (Max)	7	11,200	₹9,07,200
B-HNI (Min)	8	12,800	₹10,36,800

Manas Polymers IPO Promoter Holding

Shareholding Status	Percentage
Pre-Issue	100.00%
Post-Issue	TBD

Manas Polymers IPO Valuation Overview

KPI	Value
EPS	8.81
Price/Earnings (P/E) Ratio	9.19
Return on Net Worth (RoNW)	53.10%
Net Asset Value (NAV)	21.00
Return on Equity	53.10%
Return on Capital Employed (ROCE)	22.82%
EBITDA Margin	18.27%
PAT Margin	12.99%
Debt to Equity Ratio	1.05

Objectives of the Proceeds

Fund capital expenditure for setting up a solar power plant – ₹2.02 Cr

Purchase of fixed assets for business expansion – ₹0.25 Cr

General corporate purposes, including working capital

Key Financials (in ₹ Crores)

Particulars	31 Mar 2025	31 Mar 2024
Assets	22.14	21.08
Revenue	8.69	5.03
Profit After Tax	1.18	0.79
Reserves and Surplus	2.18	1.00
Total Borrowings	9.94	11.44

SWOT Analysis of Manas Polymers IPO

Strength and Opportunities

Experienced management team
Established supplier network
Large integrated production facility
ISO-certified quality and environmental standards
Strong domestic and export market presence

Risks and Threats

Reliance on client orders
Limited operational history
High debt-to-equity ratio
Emerging competition in PET industry
Regulatory risks in renewable sector

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About Manas Polymers & Energies Ltd.

Manas Polymers IPO Strengths

Promoters and management possess extensive experience and technical expertise.

Strong relationships with domestic and international clients, ensuring repeat business.

Large, integrated manufacturing facility for efficient operations.

ISO-certified quality, environmental, and risk management standards.

Established supplier network supporting smooth production processes.

Focus on research, development, and sustainable product innovation.

Manas Polymers IPO Peer Comparison (As on 31 March 2025)

Company Name	EPS (Diluted)	NAV (per share) (₹)	P/E (x)	RoNW (%)	P/BV Ratio
Manas Polymers & Energies Ltd.	8.81	21.00	33.37	53.10	3.86
Peer Group
Mitsu Chem Plast Ltd	5.93	71.43	19.48	8.22	1.48
Technopack Polymers Ltd	2.72	18.46	7.72	9.00	1.17

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