Manilam Industries India came to market through an SME IPO that opened on 20 February 2026 and closed on 24 February 2026, and the shares listed on 27 February 2026 on NSE SME. The price band was ₹65 to ₹69 per share and one lot was 2000 shares, so the minimum application was ₹1,38,000. The issue size was ₹39.95 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
MAS Services Ltd was the registrar to the issue, and NEXGEN Financial Solutions Pvt. Ltd was the lead manager.
As of 24 February 2026.
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Manilam Industries India Limited is a company incorporated in 2015, and it is involved in the manufacturing and subsequent sale of Decorative Laminates and Plywood. The company has developed and marketed various laminate ranges, such as the Artistica Collection, the Vogue Collection, the Dwar Collection, and the Magnificent Collection. However, due to market demand and feedback from distributors, other ranges such as Chromatic Tales, Flute, ECP, Wood & Veneer, and Wall Cladding have also been introduced.
Apart from laminates, the company is also involved in the trading of plywood of various grades and sizes, mainly targeting the industrial and commercial markets. The company’s manufacturing facility is situated at Village Manda, Bhojipura Nainital Road, Bareilly, Uttar Pradesh, and it occupies a land area of 20,650 square meters. The company operates on a business-to-business (B2B) platform, where orders are placed by large and small distributors directly at the company’s manufacturing facility.
To increase customer engagement, Manilam Industries India Limited has developed Experience Centres in key cities such as Bangalore, Delhi, and Chennai. In Bangalore and Chennai, the company operates an integrated model consisting of Service Depots and Experience Centres, providing display, stock, dispatch, and customer engagement services from a single location. This model allows customers to display products, get expert advice on color and design combinations, and process orders efficiently.
As of February 10, 2026, the company had a total of 152 employees, including third-party contract employees.
As described in the offer document.
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Manilam Retail India Private Limited, Mr. Umesh Kumar Nemani, Mr. Manoj Kumar Agrawal, Mr. Aman Kumar Nemani. Promoter holding 78.79% before the issue and 61.85% after.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Manilam Industries India IPO was a ₹39.95 crore book-built issue, comprising a fresh issue of ₹32.42 crore and an offer for sale of ₹7.53 crore. It was priced at ₹65–₹69 per share with a lot size of 2,000 shares; the minimum retail application was 4,000 shares (₹2,76,000). The IPO was open from February 20 to February 24, 2026 and was subscribed 6.33x.
Shares listed on NSE SME on February 27, 2026 at ₹55.20, a 20.0% discount to the issue price of ₹69. MAS Services Ltd. is the registrar. NEXGEN Financial Solutions Pvt. Ltd. is the book running lead manager.
The price band of Manilam Industries India IPO is ₹65 to ₹69 per share.
The lot size of Manilam Industries India IPO is 2000 shares.
The minimum investment for Manilam Industries India IPO is approximately ₹2,76,000 based on the upper price band.
The allotment date of Manilam Industries India IPO is Feb 25, 2026.
You can check Manilam Industries India IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Manilam Industries India IPO allotment status on Rupix for quick and easy access.
₹65 to ₹69 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 2000 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,38,000. After listing, SME shares also trade in lots rather than one share at a time.
₹1,38,000, for one lot of 2000 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 20 February 2026 and closed on 24 February 2026.
The basis of allotment was published on 25 February 2026 by MAS Services Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 27 February 2026 on NSE SME.
The issue size was ₹39.95 crore. The fresh issue was 46,98,000 shares (aggregating up to ₹32.42 crore). The offer for sale was 10,92,000 shares (aggregating up to ₹7.53 crore).